The 16th edition of Cityscape is on the anvil and it is a great time to buy property in Dubai for various reasons. Cityscape will take place between the 11th and 13th of September at the World Trade Centre in Dubai and developers will be able to sign sales deals throughout this show. Here are some of the top reasons to buy property in Dubai now-
- New REITs- Several real estate investment trusts (REITs) have come into the Dubai realty market in 2017 and several new projects are already being planned/launched in Dubai in 2017. REITs enable participation from smaller retail investors without having to directly purchase assets. Experts forecast the launch of even more REITs over the next few years and Dubai is one of the best markets for these investors at the moment.
- Comparatively affordable properties- There are several affordably priced housing options available in the market at present. Several real estate developers are coming up with projects that match the basic definition of affordable, i.e. two bedroom housing units that are priced in the range of Dh780,000 or so.
- Off-Plan Opportunities- In the last two quarters, off-plan deals have outstripped sales in the secondary market by a whopping 30% and this clearly indicates the confidence that investors have in the Dubai real estate market. Even payment plans have been extended to the period after completion so that buyers can dish out up to 30% post the handover of possession and this enables rental income opportunities for taking care of the costs.
- Lucrative Returns- The property market in Dubai offers enticing returns in comparison to several other global destinations. Even in a market which is steadily softening, investors can expect returns between 6-10% in Dubai. Also financing for these investments comes at rates of interest hovering around 4%, which is really reasonable.
- Community Picks- Buyers have diverse options to choose from and many new projects have been launched in well-established and fast-emerging communities while the government has also scaled up infrastructure spending. There are several communities which have good roads and infrastructure and easy access to social amenities like schools and hospitals.
- 2020 Expo & Vision 2021- The Vision 2021 and 2020 Expo are expected to jointly contribute towards putting Dubai firmly in the global spotlight and the sheer infrastructural, economic and commercial development on the anvil will propel Dubai into another league of its own. This will also scale up demand for residential properties, thereby ensuring neat appreciation in investments made now.
- Attractive property deals- Several developers are offering enticing deals to customers on projects. There are 20-80/25-75 payment plans along with plans stretched over a period of 4-5 years after possession. Communities like Azizi Rivers, Damac Hills, Ellington and Nshama are witnessing higher demand from buyers. Developers like Damac, Danube and Azizi are coming up with affordable projects where villas and studios are available from Dh1 million and Dh400,000 onwards.