Hello World! Welcome Friends! The real estate market in the UAE is developing rapidly. In 2020, there was a drop in demand, which led to a decrease in prices. At the beginning of 2021 the situation changed. The return of investors led to the fact that property to buy in Dubai began to increase in value again.
General Trends of the Realty Market
In the first half of 2021, a record number of the best property in Dubai were made in the country. The total amount of $19 billion has already exceeded the figures of the same period last year. Interest in housing types is changing. If earlier studio apartments were very popular, now an increasing number of foreign citizens prefer to buy villas or townhouses. In terms of the number of sales, the leading communities are Arabian Ranches, where the growth was over 10%, the Jumeirah Islands (9%), Lakes (8%).
Why it is Profitable to Invest Right Now
Buying a Property in Dubai has Several Reasons:
- A wide selection of houses. As demand increases, it will decrease, since the most attractive properties in terms of location and cost will find their owners first.
- The registration system. The state seeks to attract third-party investors and offers preferential conditions. So, a special program has been developed for pensioners, according to which they can move to a permanent place of residence and get a five-year visa instead of a three-year one. The new residency system is designed to stimulate the sector. This is also facilitated by the long-term residence program, launched in 2019. According to it, a residence permit can be obtained within 10 years.
- Relatively low costs. So far, prices in Dubai have not yet reached the level typical for large European cities. Although it is among the top ten leaders in terms of infrastructure development and quality of life.
- Profitability, preservation and multiplication of funds. Most likely, housing will not become cheaper. Even if you are going to sell your property in Dubai, you should be prepared to face a low risk of financial losses. It is likely that it will become even increasingly expensive.
Why Investing in Real Estate in Dubai is Profitable
In addition to a reliable investment of capital, they open up the possibility of receiving passive income. There is no profit taxation in the UAE, which allows you can legally rent elite residence and get a net profit. There is also the possibility of additional savings. Today, it is most profitable to purchase a property in Dubai at the development stage. Developers offer low costs, deferred payment and other conditions that stimulate the activity of buyers. As a result, properties automatically becomes increasingly expensive until it is put into operation.
Future Prospects
Analysts believe that the crisis in the realty market has already been overcome, so in the future, the demand for housing will only improve, and prices will grow accordingly. By the end of the year, the value is likely to go up by 1-1.5%, in 2022 the figure is expected to increase even more. There are probably a number of reasons for this:
- Stabilization of oil prices.
- The revival of tourist activity.
- Expo-2020, which attracts investors from all over the world.
- A decline in home construction.
In order not to miss the most interesting offers in the sector, as well as to save money, it is more expedient not to postpone your choice forever. The site https://emirates.estate/ has a catalog that provides you with information about the latest ads of agencies and developers in real time
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Toodles,
I just wanted to say thank you for this informational post. I agree to the points you laid out.