Emiratis dominate visitors to property auction website

The rest of the top five nationalities who visited the site are Americans (2,996), Britons (932), Saudis (549) and Japanese (SIS). EMart had record sales of Dh75 million in its first auction, while the second and third auctions featured properties worth a total of Dh27.5 million and Dhl90 million respectively.

Organic demand
Sultan Al Akraf Senior Director of Real Estate Registration, DLD, said. "It is reassuring to see Emiratis making up the majority of our visitors, as this makes Dubai's property market more sustainable when it is rooted in organic home-grown demand, as opposed to temporary speculation from foreign investors. However, we are also delighted to have attracted American, British, Saudi and Japanese participants among numerous other nationalities.

"This suggests that international investors are keeping a close eye on Dubai as it reclaims its place as a global powerhouse in real estate."

EMart is part of the Government of Dubai's drive to roll out smart e-services. The website is the world's first high-tech auction hub of its kind, according to the DLD. It provides photographs, location maps and other helpful details about different properties. Clients have also lauded the website for promoting credibility, security and trust in the market.

No illusion
AI Akraf said, "Our strong base of local buyers and sellers, supported by international investors, suggests that the high transactions we are witnessing on eMart are not a mirage or illusion, but real growth. Therefore, this auction portal is an ideal way for investors to keep their finger on the pulse of the market, and benefit from this thriving sector.''



Source: Property WeeklyPW


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