Now May Be the Best Time to Buy Property in Dubai: Experts
Property investment is a fantastic method to accumulate wealth and earn income. All investments, however, include risk, and there are a number of aspects to consider before investing in Dubai’s real estate market to ensure you get the best potential returns.
Dubai, one of the world’s fastest developing cities, is full of gorgeous water views, skyscrapers, and lovely areas for peaceful thought. Dubai never ceases to intrigue and impress, from housing the world’s tallest tower to artificial islands shaped like palm trees.
According to recent statistics provided by the Dubai Land Department (DLD), the real estate market in Dubai has recovered from Covid-induced uncertainty and is displaying strong signals of sustainable development.
According to DLD, October 2021 was Dubai’s best in the last eight years, with the real estate sector attracting a total of Dh.13.12 billion in investments split across 5,352 transactions.
The fact that over 150 countries invested in Dubai property last year demonstrates the great attraction of the Dubai property market. Furthermore, Dubai’s rental returns average approximately 7%, which is quite advantageous when compared to locations like Hong Kong, where yields average around 2% to 3%.
While popular markets such as London and New York are popular, Dubai has captivated the world’s attention as a safe and feasible property investment option for international investors seeking long-term wealth preservation and good returns.
With rising workloads and inflation rates, surviving in this economy is getting increasingly difficult. A single source of income is no longer sufficient. As a result, people are investing more to earn a second source of income or simply to save taxes. The age-old conundrum, though, is “where to invest?”
While there are many alternatives in the stock market, there is also a lot of danger. As a result, it’s a good idea to invest in something that will grow in value over time. Given Dubai’s mature real estate market, purchasing property in Dubai is an asset whose value will expand multifold.
However, if property investing is not done correctly, it is just as simple to lose money as it is to make money.
Independent analysts and industry experts agree with the DLD authorities that a number of factors, including a slew of administrative and economic reforms, a successful vaccination drive, and the ongoing Expo 2020, have helped Dubai’s economy recover quickly from the pandemic, which is reflected in the real estate sector’s growth.
Dubai, surprisingly, expects 64,000 additional housing units to be built in the near future as a result of the current boom and constant rise in agreements. If that holds true, it will be the highest level of completions since the recession of 2009.
That explains why, despite plentiful supplies, housing in Dubai will stay affordable. This is the most opportune time to buy real estate in Dubai.