The choice between renting or buying a house in Dubai is among the hardest financial decisions expatriates would have to make. It’s been noticed that people in the UAE choose to rent their homes instead of buying. However, experts like us encourage and educate people to buy a property as it’s always the best long term investment.
The key factor that influences one’s decision of buying a house is the investment aspect. Whether you’re buying to live in the property, or to lease it, or even to sell it, a financial gain is guaranteed in one way or another. Unlike renting, buying an apartment is an income generating opportunity.
The conception of the Freehold Decree in Dubai, in 2002 gave non-Emirati/s the right to buy, sell and lease property, at their own discretion. This opportunity was a catalyst for unprecedented economic expansion.
Rocky Real Estate has seen the astonishing amount of change and development in Dubai since 1976. We see Dubai on its way to become the smartest and livable city in the world. There is now an increasing demand of buying a house in Jumeirah Lakes Towers, Dubai Marina, Downtown Dubai and Dubai South as new infrastructures and features are seen in each community and add value to the properties built there.
For anyone interested in buying a house, it’s critical that they take a good look at your finance. Most importantly, they must seriously consider the reasons driving them to invest and what are the gains they should expect. This would not only help make a decision, but would also help finalize the property in the right location. Picking between Studio apartment, 1 bedroom apartment, or villa, townhouse with larger spaces with 2 to 4 bedrooms will also have an effect on the future of your investment.
Developers have used payment plans as a key tool to strengthen the real estate market, changing from mostly front-loaded to back-ended payment plans. In addition to generous payment plans, other incentives being offered are a 50 per cent to 100 per cent waiver on Dubai Land Department fees, free upgrades, etc. Back-ended payment plans are not only used by end-users, but by investors as well.
So when considering buying a house, it is best to talk to an established real estate firm and ask about market prices and trends. As the saying goes, an investment in knowledge pays the best interest.