Is it the right time to buy property in Dubai guide, UAE home buying advice, Arabian real estate 2022
Is it The Right Time to Buy Property in Dubai?
20 January 2022
On the 30th of October, 2021, Khaleej Times, a news agency focused on Dubai real estate published an article titled ‘No investment is too small to invest in Dubai, US, UK, and Europe’ detailing how one could rake profit from an investment as low as AED 500 in the Dubai real estate. People seem to agree that about a decade ago, investing in real property in Dubai was like mining gold, but now, they are unsure about the current state of real estate and whether it is yet a profitable venture.
In this article, we will discuss some reasons why it is the right time to buy property in Dubai, United Arab Emirates.
Is it The Right Time to Buy Property in Dubai, UAE
Ever heard of the term – Buy the dip?
In the wake of cryptocurrency, more people have become more acquainted with the term – buying the dip. This is often used to indicate that when the value of a product/ property is at the lowest, it is the best time to buy, as the chances of it rising, in the long run, are higher. Between 2016 – 2020, Dubai’s real estate experienced a mild shake, as the value of real estate dropped up to about 10%, thereby creating doubts in the mind of intending investors. Rather than scare you, it should be a nudge to obtain more with lesser value and reap higher returns on investment when the market bounces back. Interestingly the last quarter of 2021, we can already sense a rise in the market.
Additionally, experts have projected that the Dubai real estate market is experiencing a bounce-back that is likely to last permanently or at least for a long time. PNC Menon tells us in Gulf Business that real estate is famous for its stability and eventual rebound even after a fall. It means that now is the best time to buy rather than waiting for the high-rise/ booming period when the market is saturated with higher demand and consequently, prices for properties.
Furthermore, the government of Dubai appears to be particular about encouraging investments in real estate. A phenomenon that will cause a tripling effect in the property business and drive revenue in the sector. Other than investing in a country that cares less about the condition of real estate, it is indeed wisdom to invest where you are encouraged. For one, it means that many others will continue to be encouraged in the future, and you have fewer worries with compulsory acquisitions on the likes.
Now is the best time to also invest in Dubai’s real estate because it makes you eligible for an investor’s visa and makes visitation to the UAE easier for you and your household. Although this policy is relatively new, we cannot presume it will last forever.
According to Ax Capital, property for sale in Dubai Hills has gone up and this is reflected in other major centers in the city. Now is the best time to invest in real estate in Dubai, because the city is one of the world’s utmost tourist attractions. So, this is another reason why now is a great time to purchase property in Dubai.
It is forecasted that real estate will grow in 2022 due to the new government policies, the effects of the expo 2020, and the rebound of the market. This may proceed into 2023 and beyond when the prices of properties are expected to peak. It is only logical that the best time to buy is when the value is lowest, it is not at the moment but this is the lowest it is likely to be in the next half a decade at least. So isn’t it better late than later?
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Location: Dubai, United Arab Emirates – the Middle East, western Asia
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Coca-Cola Arena, City Walk
photo courtesy of architects studio
Design: Zaha Hadid Architects
photograph : Laurian Ghinitoiu
The Opus Hotel in Dubai
UAE Architectural Designs
New UAE Architectural Designs – selection:
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Flamenca at The World Islands in Dubai
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Architects: H2R Design
Kraz Restaurant in Sharjah
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