Dubai is one of the safest locations in the Middle East that is experiencing faster economic growth & much better preparedness for natural calamities. It is also the place to enjoy all the worldly pleasures & do business in a safe environment. The real estate market of Dubai is one of the profitable aspects of the UAE’s economic clout in the region. The government has been able to attract foreign investment in numbers & the current data says that three-quarters of Dubai’s real estate is purchased by overseas investors.
Dubai is also considered the most popular destination for second home purchases, providing insight into the lifestyle & wealth of the local population. The figures of the Dubai Land Department reflect that overseas buyers spend around AED 12-15 billion every quarter on properties, with affluent investors spending highly on luxury apartments. It is the perfect time to invest in Dubai real estate & get the maximum out of property investment.
Here are factors that make Dubai an ultimate destination for investment –
The Economy of the Emirate is Growing Consistently
Dubai is one of the wealthiest Emirates, but it is not dependent only on its oil reserves. Dubai has changed its course of plan in the past and has flourished as the champion of diversification & economic growth. The economy is still growing at a fast pace, even after it cuts dependence on oil revenues.
The Rise of Off-Plan Property
The land is providing the opportunity to foreign investors to flip their properties and even some selling whilst construction is yet to complete. The off-plan developments remain the top investment plan for the real estate market in Dubai. The popularity has also risen due to the Covid-19 measure throughout the year.
More than 3,000 First-Time Buyers Enter the Property Market Every Year
The property prices are declining now due to the pandemic and the number of first-timers is expected to be over 4000-5000 in the years to come. The economic challenges have rippled the society, with rising unemployment rates resulting in declining prices. Investing in Dubai’s real estate market at the current instance is the best way forward for foreign investors.
The Covid-19 pandemic has made the economic growth slip down a little, but it is expected to gain momentum in quick time! With foreign investment & dedication, the real estate investment is only going to flourish in the next couple of years in Dubai. The government of the day takes a lot of pride in the modern structures of the place and has relaxed the rules for foreign investment in multiple ways.
The most important thing about investment in Dubai is that the red tape obstructions are too little in the Emirate. Contact the right kind of real estate professionals to get details about all the top-rated properties in the region! Check & compare the rates to pick your final choice of property for eventful buying!