Why this summer
worth buying property in Dubai
Dubai realtors report a seasonal slowdown in price increases. But there are at least 10 good reasons to believe that property prices in Dubai will bounce already this fall.
1. High rental prices
Ask anyone how much rents increased in 2005. Someone was lucky, and he managed to find housing worth only 10-15% higher, if not, then 50-65%.
This motivates investors to purchase real estate for the purpose of its further leasing, which will bring up to 10% of the profit annually. On the other hand, those who are tired of the constant increase in rents are seriously thinking about buying a property in the property.
2. Low housing prices
Compare Dubai with any prosperous large city in the world, and you will see that real estate prices in Dubai are still below global: no taxes benefit the Dubai market.
3. Mortgage interest rates fall
Local and international banks, as well as financial institutions in the UAE, are providing more and more options for financing real estate, and the result of existing competition among financial institutions is a drop in interest rates.
4. The new Federal Property Law is expected in September
A new federal property law is expected this fall. Its adoption will eliminate the existing uncertainty and inspire more confidence in those who wish to invest in Dubai real estate.
5. High demand for housing
The rapid development of Dubai as a shopping center in the Middle East leads to an increase in the number of expatriates and, as a result, an increase in demand for real estate.
6. High housing demand
Dubai's annual population growth continues to exceed the volume of housing under construction. This fall, another massive influx of expatriates is expected, associated with a dynamically growing economy and seasonality.
7. The delivery of many objects is delayed
Despite all the talk about a potential overabundance of finished housing, there is a serious shortage today. This is due to the widespread delay in the start of construction, which leads to a delay in the completion of housing for at least 6 months.
8. UAE economy continues to grow rapidly
Economic growth, lack of taxation and other favorable factors affect the welfare of the people of Dubai and, as a result, increase the solvency of the population.
9. Dubai is becoming famous and popular.
No city in the world today advertises itself as large as Dubai. In addition, wise foreign and domestic policies make it possible to ensure the necessary level of security and order in the country and, as a result, a constant influx of tourists.
10 there are too many skeptics
One must take into account the existence of market psychology; in any investment market, the price peak can really be called such when almost all investors are convinced that their investments are profitable and the risk is minimal. Fortunately, Dubai's real estate market is relatively young and has not yet reached its heights. And there are still quite a lot of skeptics on it.
For example, last summer in the UK, almost everyone was sure of the feasibility and minimum risk of investing in real estate. ... From the moment it became obvious, a drop in prices began.
But Dubai is still far from the critical point of the development cycle!
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