Real estate is perhaps the best investment you can make. Excellent property investment is the key to positive cash flow and healthy financial freedom besides feeling the pride of ownership.
It is essential to invest in the right property, in the right market, at the right time and the right price.
Maximizing your property investment ROI is the main objective of every investor.
An excellent rental income not only makes the mortgage payments much more comfortable to afford, and but ensure that less money is coming out of your pocket every week.
Since 2006, Brand Dubai – a gateway to the middle eastern economy has carved a niche for itself in the world real estate market, and the global investors have made a beeline in the Dubai property market.
Since then, the city has been at the forefront of the global real estate market as a leading destination.
The global real estate market is struggling a bit at present and corrections are visible.
Still, the Dubai property market is expected to stabilize fast in 2020 with meaningful recovery expected from 2021 according to rating agency Standard & Poor’s, reported by Gulf News – The emirates premium news daily.
Right time again to invest in Dubai Real Estate and here are few golden tips to boost your ROI on investment in the Dubai property market.
Pick up the best of location and project
The right geographic location and the project ( backed by good developers) play is always a game-changer in the property market as this confirms the ROI expected from the property in a few years.
Dubai has the best of the luxury property located in places like Jumairah beach, Dubai Land, Dubai Hills Business Bay, Dubai Marina, to name a few.
Know what value add-ons, a tenant looks for
Besides the location and price, there are several values adding features which a smart investor would implement to yield the best return. Installing modern appliances, like reverse-cycle air conditioning, and a security system all go a long way in keeping tenants happy and secure.
If they have these extra facilities they need in the location, they’re less likely to move and make your monthly income stable.
Offer long-term leases and have a long term relationship with the tenant
It is a market-dependent factor, but tenants are happy to pay extra for a longer-term contract as it saves the inconvenience of moving every year.
It’s a win-win situation that can keep both the tenants and you as the landlord happy with a steady rental income year after year.
Renovate smartly with top of the line maintenance
Cosmetic changes and periodical renovations are good for prolonging the life of your property and keeping it aligned with the current market style.
Minor modifications can make a significant impact, like an annual fresh coat of paint or updating the kitchen and bathroom are big-ticket items and make the tenants happy for the long term.
One must reduce maintenance costs by investing in good contractors and reliable vendors. Properties that look good will naturally command a higher rent.
Still You have doubts or questions in your mind, How and where to start investing ? You can let us know in the comment section or contact our team!!!