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Hamptons MENA, the full-fledged property services company, has recorded a growth in the value of property transactions facilitated by the company by over 106% in the first half of 2012, compared with the same period last year.
Highlighting the strong growth trends reported in the property sector of Dubai, the number of transactions increased by 69% during the same period.
Niraj Masand, Head of Operations at Hamptons MENA, said: “The growth trends recorded by Hamptons MENA are a strong demonstration of the rising market confidence in Dubai’s property sector. The increase in number of buyers, compared with the number of sellers, throughout the year also highlights that the demand-side is stronger, which will have a further positive impact on prices, in turn benefiting the investors.”
He added: “Notably, we see highest demand in established communities such as Emirates Living, Dubai Marina and Downtown Dubai, with an average ratio of sellers to buyers at 1:2. There is a significant drop in the number of distress sellers, with the property owners preferring to set the price, leveraging the growing demand for homes. We are confident of a positive growth outlook for the property sector, which has gained significantly from the overall growth of Dubai’s economy led by its core sectors of retail, tourism, hospitality, trade, aviation and logistics.”