Dubai Investment Real Estate is a bold choice that has gained popularity in recent years since proving to be one of the best and safest ways to invest in a world that is changing so rapidly! However, for many reasons, many still feel hesitant to take this step, and maybe the presumption that taking this step involves a lot of cash in advance is a little inaccurate. We can see in this article why Dubai is a perfect destination for low-cash investors.
Buying a property begins with complete payment of the value of the property, or with down payment & payments in cash reserves for 3 months or 6 months and some closing covers. For many investors especially first-timers and those who are not very well-off, these numbers combined may be a turn off. This stumble, however, varies from one region to another and depends on the developer, agent, and experts in real estate you are dealing with.
It is important to select a position where payments can be manageable and where you can expect returns on your investment as an investor with little firm financial power, because investors with little cash cannot take risks like large investors.
Indeed, thanks to new laws and initiatives, Dubai has become an ideal destination for this form of investment, with its off-plan sector increasingly rising. For several factors, first time buyers or those with little capital would look at off-plan properties as a choice:
- Relative to ready properties, they are cheaper.
- Off-plan properties do not demand complete payments much of the time, in addition to the numerous deals and plans that many developers and brokers have, making it easier for buyers to pay.
- Since tenants can pay more to live in a new building, developers will get full returns on off-plan properties.
You need to know more about the property thoroughly if you are investing in off-plan assets, and while this can sound a little tricky, it is advised to ask for guidance from experts who can provide you with anything you need to know about the investment.
Dubai's properties are much cheaper relative to other big cities around the world. On average, a square metre would cost USD 34,531 in London, while New York stands at USD 18,499 per square metre. Dubai comes with 5,037 USD per square metre behind many major cities like London, Hong Know, and New York, more than six times less than London. Dubai tends to deliver smart real estate investment, with its global ranking among these major cities and a slightly lower price per metre, which does not sacrifice the business potential for its fair price.
There is one more important reason to pick the city today for your smart investment, in addition to the fair prices and the booming off-plan market: the future potential! As experts say, 2021 will be a turning point for Dubai's real estate industry, with high growth expectations due to the 'Dubai Vision 2021' government plan and other factors, such as Dubai Expo 2020. Due to the stable performance of the town, buying Off Plan Properties in Dubai in today's market and investing in it later is one of the safest investments.