More developers in Dubai should offload their unsold inventory at “sufficient” discounts to spark off sales in the primary market, says a real estate expert.
“We want to see more of these offers because it shows that the primary market is become more realistic and, assuming discounts are sufficient, will spark transactions.
Currently, the primary market is stagnating, especially for units still under construction. Of course, this will impact the secondary market, but secondary price declines, especially in outlying areas, were always inevitable,” Jesse Downs, Director of Management Consulting, Jones Lang LaSalle Mena, told Emirates 24|7.
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