The first two months of 2019 have seen a surge of 55% off-plan transactions as reported from real estate portal Property Finder. The remaining 45% are seen from the “secondary market” where new investors/ buyers are taking advantage of flexible payment plans introduced by developers. Off-plan property transactions are still quite active due to low entry point demonstrating growing demand from public even in the current environment. The secondary market is also active indicating its a good time for new investors to get in while prices are more affordable. Read the full article here.
The increase in mortgage transactions is a very positive sign. It demonstrates more end users are buying, which will help stabilize the market as long-term buyers or investors are displaying confidence to invest in real estate.