The two key reasons significant in Dubai’s success are tourism and the real estate market. The Dubai properties lure in entrepreneurs and investors like a moth to the flame. Apart from well-designed living spaces, the abundant facilities and tax benefits make people attracted to the City of Gold.
Investing in Real Estate Market 2021 is both a daunting and challenging experience. Dubai offers a lot of opportunities, so it’s natural for one to get double-minded as to where to put money into.
If this real estate market has grabbed your attention, read on below as we get you the facts about Dubai’s real estate market:
Dubai Real Estate is Thriving
All industries throughout the world took a hit when the pandemic arrived. Now, even though COVID has not gone away completely, the restrictions have been lifted considerably. The real estate market has also returned to normalcy.
Moreover, developers, as well as the sellers, are being flexible. The payment plans have been made easy. The prices have been reduced as well along with other incentives that both sellers and authorities attract buyers and investors.
The Emergence of New Communities
Thanks to the extension of the Metro Route, the new residential areas have become a lot more accessible. New communities have emerged too that are budget-friendly. Some of the popular ones are Al Furjan, Damac Hills, Dubai South, Dubai Investment Park, Discovery Gardens, Dubai Sports City, MBR City, and Jumeirah Golf Estate.
Apartments VS. Villas
A large portion of Dubai’s population is made of ex-pats. Due to this, studios and regular apartments have always been the preferred choice. However, since COVID-19, things have changed. To maintain social distances, people realized the importance of living in bigger spaces. This led to a jump in villa queries as reported by property portals since residences are spacious and come with plenty of room and facilities for everyone.
Apartments are still the popular and preferred choice for most. But villas are also getting a lot of attention. The only drawback is that villas are expensive, and not everyone can afford them.
Off-Plan Properties on the Rise
Apart from ready properties, off-plan projects have gained popularity too. As they are yet in the completion phase, they are budget-friendly. This makes them a good option for investors Real Estate Market 2021.
Off-plan properties have both perks and drawbacks. Apart from the low cost, you can sell it before its completion as well. Also, if the project has garnered attention and positive publicity, people would be willing to pay more for it.
At the same time, the main drawback is that delays can happen. This could be problematic for those looking to move it Real Estate Market 2021.
Dubai is known for its lavish lifestyle. The residents enjoy numerous facilities. Not only that, the new developments focus on providing all the comforts and facilities of a luxurious living. This has also made people interested in buying real estate in Dubai. The more the amenities, the more buyers are interested in buying. Apartment complexes that come with swimming pools, gardens, spas, fitness centers, and security systems gain more interest from people.
You Need to Have Professional Help
Whether you are a seasoned real estate investor or a newbie, you would need professional help if you want to make safe and informed decisions regarding investing in Dubai real estate. You would need to seek help from an agent of a real estate company in Dubai. They can help and guide you through the different stages of the property buying process. They will take care of the legal matters, paperwork, property inspection, and even conducting background checks. This will make the whole process hassle-free for you Real Estate Market 2021.
You should know that seeking help from professionals is not an added expense. Take it as an investment. You never know what they might be able to find. You need to trust the skills and insight of real estate professionals. They are known for all the tactics scammers are capable of. By hiring their services, you are actually decreasing the chances of getting scammed Real Estate Market 2021.
All in all, it all comes down to the requirement and budget. Dubai real estate has a lot to offer in terms of opportunity. However, see that you take it slow. Do not rush into things and take your time to evaluate things and settle on a decision about them Real Estate Market 2021.