I want to invest in real estate, I’m not quite sure whether it’s the right time to do so or not. Should I realize a purchase now or wait?
We all know of someone or the other who made the property purchase at “the right time” and ended up making good amount money out of it. Look back at the time they’ve purchased and you’ll realize market sentiments at the time were probably as mixed as they are today. Uncertainty and negative sentiments usually make for a market that is ideal to pick up undervalued properties. This is the general trend.
The Dubai Real Estate Regulatory Authority (RERA) has applied the highest standards of transparency to function the market by exercising the best control on transactions and regulating interactions between investors and real estate agents. The sheer professionalism and transparency in Dubai real estate market encourages and instils confidence to invest in the emirate. The increasing number of people investing in the Dubai property market is a testimony to this fact.
I’m interested in investing with a buy-to-let mindset; is now the right time?
Property prices have unarguably dropped during the past period; good news is rental prices haven’t followed suit. While some would argue that rentals in some areas have indeed dropped by three per cent to seven per cent in some areas; that decrease is minimal to compare to the property price drop.
The result is higher rental yields for the buyers, who can expect returns for their investments since the sale prices have dropped more than rental prices, positively impacting the yield.
It is an established fact that the rental returns in the Dubai property market has been amongst the best worldwide.
When it comes to the advantages of buying a property in Dubai over investing in other markets, it is quite evident that the current options and price levels available here is very attractive in comparison with that in other cities. Savvy investors have recognized this growth potential of investing now in Dubai and are reaping the rewards soon after, both in capital growth and rental return.
I’m not sure how to select the best property to fit my investment requirements. How do I start?
Engage a reputed real estate investment consultant. Our job is to assist you in finding the right property; but it isn’t as simple as it sounds. The process involves understanding the client’s short and long term demands. We also need to consider the financial capacity of the client and making sure they understand the investment to a 100 per cent.
Your investment will have higher chances of achieving satisfying results once, with the help of a qualified consultant, you’ve been offered the chance to compare and contrast different options in terms of the projected capital appreciation along with the typical rental yields associated with similar properties.
For property investments, Dubai offers a wide range to choose from. A good property consultant should be able to guide you through varied range, detail the pros and cons of each development and help making the final choice.
I want to invest in real estate, my only problem is time. I don’t have the time to look after my property(ies).
Again, engage a reputed real estate broker. Time consuming responsibilities of owning a property can be easily delegated to a property broker for a fraction of your rental returns. A broker can find you a tenant, handle tenancy contracts, receive payments and assist with your property maintenance giving you a headache free solution to owning a property in Dubai.
The key advantages offered by the Dubai property markets vis-à-vis investment in other markets lies in the fact that they do not have to deal with complicated documentation and provisions related to income tax as there are no personal or income taxes in Dubai.
I recently moved to Dubai and I am too sure if I am eligible for a mortgage just yet. How can I secure a property? Are there any rent-to-own properties available?
There are very few rent-to-own options available in Dubai. However, they offer an excellent opportunity for those who are looking at staying in Dubai on a long-term basis. It enables a tenant to pay rent and purchase a property a few years later and have a large part of the money paid for rent refunded back. For more details, give SPF Realty a call and an R.T.O specialist will call you back.
As an expat, you are eligible to avail mortgage loans. There are many banks in Dubai providing attractive options. It might be worth the effort to go and meet a financial consultant or a bank to understand if you would qualify their guidelines to name a mortgage loan. Different lenders have their set of guidelines or criteria to assess the client’s ability to pay back the loan amount. It would be a good idea to search properties in Dubai after one has understood the loan amount that he/she is eligible for. This will help zeroing in on the right property at the right price range