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Major Factors that Affect Prices for Property for Sale in Dubai

Buyers

Real estate prices are shaped by various factors. It is, however, worth noting that there is a huge difference between property price and property value. The value of the property for sale in Dubai Sports City refers to the market worth of the property upon appraisers’ assessment. On the other hand, the price is what the buyer and seller agrees on during the real transaction. This means that properties can be transacted either below or above its value. When selling your property, you should therefore understand the worth of the property before agreeing setting a price for it.

That said, there are times when the property value actually ends up as the transaction price. Note that different valuers will give varied opinions about the true value of the Dubai Sports City property. Serious investors don’t just rely on valuation reports from one person; they compare at least three or more. While some will do an average, others choose one that closely reflect their expected transaction prices.

Factors that Affect Prices for Property for Sale in Dubai

One of the main reason why properties take long to sell is because of perception difference between the seller and buyer on the real worth of the property. It is only natural that most buyers will want to purchase the Sports City property at the lowest possible price while on the other hand, sellers target the highest bidder. To resolve this and ensure a successful sale, a valuation will inform both parties a workable range.

Generally, property prices are influenced by various factors such as location, amenities, views, market rates, among others.

  • Location

The physical location of your property for sale in Dubai Sports City will immensely influence the price. Locations vary in prices mainly because of the developments around and the demand for the same. Properties located in rural settings or further away from the cities are of less value than those within the metropolitan setting. Some investors are very specific on the type of views they will enjoy from the property. Those with amazing unobstructed views are considered to be more valuable than those whose views are blocked.

Nothing beats a relaxing evening enjoying the views of the city from the safety of your balcony as you enjoy your premium drink. If someone can see the kitchen of the neighbor from their own home because the apartments are squeezed, then such properties will definitely not appeal to most buyers. If you are buying a condo, for example, with a clear view of the ocean or lake, then you wouldn’t mind to pay more as opposed to one without. Many sellers of Dubai Sports City property highlight the magnificent views as a major selling point and use it to justify the higher prices they ask.

  • Floor level

Many people are yet to realize that the price the of property, especially apartments increases with the floor; the higher the floor, the higher the price. This has something to do with the unobstructed views as well as the noise levels. Higher floors are also considered to have lesser insects, are more airy due to more wind they receive.

  • Available amenities

Everyone wants to live near crucial amenities that are easy to access. One of the main important one is the proximity to a transport network system for easy commuting to work and other parts of the city. Other considerations include the proximity of the property for sale in Dubai Sports City to supermarkets and shopping malls. Your neighborhood is an equally important factor. Assuming the buyer has children, and the property is near a good school, then they might not mind paying a higher price for that.

Some even consider a place of worship as an important factor. The current state of the neighborhood is not the only factor because future plans by the estate or the government around the area will also be a greater factor. What other facilities do people consider as being important? How far is the nearest swimming pool or gym? Is there a police post around the area?

  • Prevailing rates

How much are Dubai Sports City property worth? Recent transactions of similar properties will inform the current price. However, don’t peg your price entirely on the recent transactions they might have sold at a lower or higher price. Just use that for comparison purposes because it also depends on the nature of ownership. The other one might be sitting on a freehold land while yours is 99 years leasehold.

  • Property layout

The beauty about property ownership, when compared to the leasing of your property for sale in Dubai Sports City, is the ability to customize the home the way you like it. Most buyers want a house they can improve with ease without having incur huge construction bills. Do you know there are buyers who will buy a house simply because of the early morning and later afternoon sun? If that is a factor, then you will realize that you have to spend more money to realize this special requirement. What is the state of the roof, sewage, floor and the walls? No one will touch a house that is likely to incur huge costs in repairs. Even if you get a buyer, they will negotiate for the lowest price knowing that they will still incur the hefty repair bills. To avoid that, fix minor repairs on your own before listing the house for sale.

  • Future plans

No one wants to invest in an area whose future plans are not clear. What are the future plans of the neighborhood? Are there plans to build a subway system around the area? Is there an upcoming private school or shopping mall? Find out from the local authorities for their masterplans and choose accordingly.

Pricing is very important in any transaction and must be handled with utmost seriousness. It might never be static, but you are free to set your own for the property for sale in Dubai Sports City so long it is properly done. How long or fast your property sells will depend on that very important factor.

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