SellAnyHome: 50% of buyers have a AED1 million budget
SellAnyHome.com’s buyer pool has shown interest to spend over AED 640 Million ($174.4 million) in Dubai Real estate and that number is growing every month, according to insights generated from thousands of registered users since the website went live last year.
“Our buyer pool has increased 600% since January and is a clear signal of how exciting the Dubai real estate market remains for buyers and investors alike,” said Omar Chihane, CEO, and co-founder of Sellanyhome.com
The insights coming from Sellanyhome.com’s registered buyers show 49% of buyers have a budget of AED 1 million and above, meanwhile Dubai Land, Dubai Marina, Jumeirah Village Circle, Meydan and Sports City have emerged as Sellanyhome.com’s most popular destination for buyers, with 52% of users seeking to purchase in those locations.
“Our data insights, mined from sellers and buyers using SellAnyHome.com, indicate a robust real estate market. Potential buyers are entering the market with healthy budgets. The data also shows that properties large and small, ranging between 1 and 3 bedrooms, for instance, are all attracting strong interest. Our data suggest that the real estate market continues to maintain dynamism even as consumer preferences and price points evolve,” said Chihane.
The majority of registered buyer seem flexible as to the number of bedrooms, as Sellanyhome.com notes that 20% are looking specifically at 1 bedroom while 26% are preferring 2 and 3 bedrooms. At 71%, the vast majority of SellAnyHome.com buyers are interested in apartments; with 12% preferring villas.
Cash continues to play a prominent role in real estate transactions, with a full 22% of SellAnyHome.com buyers wanting to pay cash in full. 57% want to take recourse to financing, while 13% are happy to choose either option.
“We will use this data to optimize our offerings so buyers can quickly find the property they want at the price they need while sellers can quickly identify a suitable buyer for their property”, Chihane added.
SellAnyHome.com allows buyers to book viewings for listed properties and also offers useful tools such as a mortgage calculator and the BorrowMeter that helps buyers determine their borrowing power. As for sellers, Sellanyhome.com continues to be a great destination for sellers to get a quick home evaluation online, a free 100 point check on the property in 30 minutes, and access to ready buyers interested in making offers thereby shortening the sales cycle.