The presence of beautiful malls and beaches, thousands of high-end restaurants, shops, the bustling industry, and activities like dune surfing or indoor-outdoor activities like skiing, make Dubai one of the most happening places in the world. Adding to it, everybody wants to be a part of the move in the city, visitors and residents alike!
Let’s accept it, you’ve definitely thought of buying property in Dubai whether you’re seeking to invest or planning a move. Or even if you’re looking for a job, to establish a business, or simply to enjoy life in the emirate.
Interestingly, with the passage of the Freehold Law in 2002, foreigners now have the ability to purchase, sell, and rent property in Dubai without the need for any additional approvals or rules. With expats accounting for more than 70% of the emirate’s population, it’s not unusual for foreigners to buy land and residences.
Therefore, if you’re someone who wants to buy an apartment in Dubai or simply own a real-estate piece, this blog is for you!
The Property Market In Dubai
In recent years, the property market in Dubai has had a succession of ups and downs, yet the industry as a whole has remained quite stable. Despite a modest increase in December 2016, house prices plummeted 17 percent between 2014 and 2016, and are expected to decline much more in 2017. Experts are split on whether this is the market’s bottom – and whether it will continue to rise from here – or if it will continue to plummet until the trend reverses.
Can Foreigners Buy Property In Dubai?
Yes, the legal changes in 2002 now allow residents to purchase property in Dubai! However, there are different factors that you might want to consider before buying an apartment for sale in Dubai Creek Harbour or elsewhere.
Research and Analyze Market Stats
It’s tough to pick a specific place when there are so many appealing possibilities. It is critical to begin your own property market research in order to achieve the most return on your investment.
You may also learn about current trends, projections, and patterns in financial investment if you’re a curious investor. Newer investment projects in Dubai may be more appealing to investors. The more you learn about the UAE real estate market, the more benefits you’ll be able to reap.
Tenure
Before you buy an apartment in Dubai, you should consider the length of time you want to stay in the UAE. This is crucial since it will assist you in calculating the entire value you may obtain from your prospective return on investment. However, renting a house is preferable if you are unsure of your potential commitment or long-term ambitions in the UAE.
Now You Know!
Now that you have an idea of all the factors, we hope that you now can find an ideal property to buy in Dubai. With this, we hope that you’ll be able to make the most of your investments.