Should you buy property in Dubai in 2020?
COVID – 19 has had a tremendous impact on the global economy, so one would assume that investing in the Real Estate market would not be a great idea. However, on the contrary, industry experts advise that a wise and able investor would always consider investing in Real Estate at a time like this when the return on investment is significant and there is a guarantee of high yield and capital appreciation. And what better place to invest than in Dubai – a melting pot of cultures and a booming economy that has attracted the interest of investors from all around the world.
I’m sure you will agree that the way the Dubai Government has handled the COVID-19 situation and flattened the curve is indeed exemplary. While Dubai is slowly but surely resuming normalcy, the city is one of the most affordable and sustainable cities in the world to invest in. Given the current dynamic of reduced demand and increased supply of real estate in Dubai on account of COVID – 19, Developers are offering extremely attractive property deals to buyers. Additionally, mortgage companies are offering great payment options. The current interest rate is at zero and the mortgage gap has been reduced by 5 percent for first-time homebuyers and investors. This makes it easier to take the plunge!
Most real estate investors in Dubai are normal people like you and me. Real Estate is a resilient investment and just makes better financial sense! You would normally pay less per month on mortgage and service charges than on the cost of the rent. Investing in real estate in Dubai can also create passive income and can prove to have great long term investment returns. There are several real estate options available to the buyer in Dubai today. You can opt to buy a property that is ready to move in, which could give you immediate returns on rent value. You also have the option of investing in an off-plan project with a future completion date, which options to pay in installments. Each option has its advantages and completely depends on the buyer.
Industry experts predict that there will be an exponential increase in demand for buying real estate when the impact of COVID-19 has stabilized. So, in a few years, you can reap the substantial benefits of your investment. As your trusted and reliable real estate partner in Dubai, we at ‘The Vault’ definitely recommend investing in a property in Dubai during this time if you can. We have several stunning properties and great deals that we will be more than happy to take you through.
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Note: The opinions expressed in this article do not constitute legal advice and are provided for information only. Please direct any queries to [email protected]