Affordable Housing in Dubai
Having lived in Dubai for nearly 10 years, there's one aspect that perplexes me: why do all developers solely focus on capturing 20 percent of the housing market? The cheapest ready 3-bedroom villas in Dubai are priced at AED 3 million, and even the new launches are priced around AED 2.5 million for a 3-bedroom villa. When we consider the off-plan market, it becomes evident that properties are not selling as expected. The primary reason behind this is that every developer is targeting the same market segment. I struggle to comprehend why all these developers are fixated on the same customer base. There are a few obvious issues with this approach. Firstly, there is a limited number of customers within this segment, and that is the current situation we face. The market is flooded with villas within this price range. Secondly, when numerous properties of the same type flood the market, we experience an oversupply, which is the current condition. There are numerous off-plan properties