Even though the off-plan property sales in Dubai have been under pressure lately, it may not be a good enough reason for the residential property developers to try pushing harder into the property market. The sales transactions of off-plan properties saw a significant decrease, as high as 30%, last year and the decline was attributed by the analysts to stricter regulations on off-plan sales as well as the variety of choices in the property market in Dubai.
Obviously, pricing the product right is really important. Taking the example of LIV Residence from the L-I-V Developers in Dubai Marina, their properties are properly priced and the majority of people showed that they were quite comfortable with prices of these properties.
The pricing starts somewhere around Dh 1550 per sq. ft. in this development and that’s quite an appropriately priced figure if you look at the average prices of similar properties in the area. After the initial launch of the LIV Residences, all the units put on sale were completely sold out inside 6 weeks only. With the company starting to sell new units, there are 2-bedroom rentals on offer that overlook the Marina and are priced at Dh 1.79m to start with.
Besides pricing, however, there are quite a few other factors that play a vital part in generating sales traction. This is especially so when the market forces are pushing things in the opposite direction.
Research Is Important
Again, the management at LIV Residences believes that what sets them apart is their extensive research and all the dedicated effort they put into it. They talk to so many clients trying to find out exactly what’s necessary for them.
The project that boasts of a beautiful contemporary design featuring floor-to-ceiling windows and open-plan kitchens actually caters to the needs of a broader market base offering studio units as well as 1-bedroom, 2-bedroom and 3-bedroom apartments and penthouses. Based on the research done by the company, most of the 2-bedroom units in the development were built to include a separate maid’s room as well.
Location Plays A Key Part
Accessibility plays a vital role in the success of any project no matter how big or small it is. In the case of LIV Residences, all the things have been done right in this regard as well.
Enjoying a perfect location, the residents of LIV Residences can simply come down from their apartment or penthouse and take a stroll across the street for having access to an expansive beach. Furthermore, the tram service is also quite easily accessible from the development and those who own a car can easily get to the Sheikh Zayed Road which means you’ll never be stuck when there.
This project is also being built very close to plenty of 5-star hotels as well as a horde of food & beverage outlets.
Some Additional Perks
Yes, offering something extra always has its gains for the developers. Talking about the LIV Residences, the project comes with retail offerings of its own in a 3-level podium. Besides, there are some usual amenities as well including a gym, barbecue & garden areas, play area for children, and a lobby and a pool.
The property also has beach access which certainly puts it ahead of quite a few other developments as you can take a small walk to the famed beachfront of the Marina. The incentive has been taken one step further by the company as they offer access to beach amenities from a nearby 5-star hotel as well.
They’ve also broken the mold in Dubai Marina by providing that luxury element through exclusive 5-star beach as well as tennis membership of Le Royal Meridien Beach Resort & Spa. All the buyers have access to all these additional perks.
Never Put Them On Wait
Waiting for something is certainly the most annoying. Again taking the example of LIV Residences, the eager homebuyers were pretty satisfied as the sales of the residences within the development were launched only half-way through the 3-year construction timeline of the project. What this means is that the buyers do not have to wait for too long until their properties were scheduled to be handed over.
So, with boutique residences making all the hype in Dubai, there are still a lot of factors that the developers have to take care of so that things go as planned.