Buy Property in Dubai, once again making headlines in International Media
A gateway to the middle east economy and known as a city of high standards of living and luxurious life, Brand Dubai always is a dear name in the international media. Lately, it has once again surfaced in the international press as the third most affordable city in the world for purchasing a prime residential property. The emirates are just behind Cape Town and Kuala Lumpur, according to the Savills World Cities Prime Residential Index. In-house Savills research into excellent residential rental yields, highlight Dubai as the fourth-best global hub for returns on investment (4.6 percent).
Luxury villas and apartments are still the hot favorites amongst the investors. They are considered to be a good investment for local and foreign investors since property prices fell by 1.9% in the last year. However, the high demand for luxury apartments in Dubai and its reputation as one of the best global real estate markets for returns on residential investment is a tremendous motivating factor to every seasoned investor as Dubai is great a buyer’s market today.
Factors contributing to real estate growth factor soon
The first half of 2019, saw the arrival of approx 8.5 million international tourists in the city. During the year 2020, it is expected to touch a whopping figure of 20 million as the city is housing the Expo 2020, Dubai, where 192 countries across the world would participate to showcase their offer.
Expo 2020 will facilitate the opportunity for tremendous demand for long term lease/ renting of the apartments for the tourists and business delegates alike. Much new business and employment opportunities also likely to surface as a fall out of the expo 2020
Population Growth in the emirates
By 2020, Dubai is expected to experience remarkable growth and the population expected to be 2.8 million-plus, while 2030 could see as many as 3.4 million people. The fast and consistent population growth will not only result in a steady rise in rental, but there will be healthy growth in the first apartment buying pattern.
Smart investors to capitalize on the opportunity and capitalize on the Dubai boom again.
The slight dip in property prices in the last few years has benefited the investors. With the current real estate boom projected soon, smart Investors sitting on the fence are expecting to avail the opportunity. They can make a long-term investment in their future by purchasing a property that is set to make a substantial profit when prices start to increase again.
Affordability is bound to increase the real estate growth pattern.
Today the returns on investment in Dubai real estate market averaging 4.6% and with property prices dipping slightly, now is the perfect time to purchase property in Dubai again. There are enough options in each geographic territory across the emirates and the bouquet consisting of a studio apartment, luxury apartment with one, two, three and four-bedroom configurations, townhouses and villas in varied price categories. With prices at an all-time low, the smart investors can be assured to find an affordable property in Dubai without much difficulty to encash on the current boom.
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