Are you planning to invest in the Dubai property market? Then, it would be better to understand the current trends in Dubai real estate to find the best property with a high return of investment. In this article, you will know the latest Dubai real estate market trends that will help you make the best decision.
Both residential and commercial properties in Dubai are in high demand. You would be surprised to know that the demand for property in this city has outpaced the supply in the last two years.
That’s why here prices of apartments, villas, shops, etc., are increasing at an unprecedented rate. However, some real estate projects are still there where you can buy your space at a fair price. For example, there are luxurious beachfront apartments for sale in Azizi Mina, located in Palm Jumeirah.
These apartments are equipped with all basic utilities and offer uninterrupted views of the crystal blue waters of the Arabian Gulf.
Let us move on to our main topic, “The emerging trends in Dubai real estate.”
Conversion Of WareHouses Into Offices
It has been found that realtors are converting warehouses into office premises to entice the enterprises that need big space. The real estate companies are putting them on lease instead of selling.
It is the affordable solution for those enterprises who want to stay near business centers but do not want to pay a heavy amount for the prime location. Due to the COVID-19 crisis, the financial market is tight; hence, the split offices’ trend is booming.
Therefore, many companies lease small office space in prestigious locations for client meetings and run their operations in other locations where rents are quite affordable.
Amazing Opportunities Is Available In Local Market
To strengthen and lift up the property market, Dubai’s government has introduced some incredible policies that will surely drive growth. It is making the mortgage process easier on off-plan properties and completed projects.
Apart from this, the realtors are also offering friendly prices to increase demand from buyers. Right now, there are some amazing investment options available around the Health city, Palm Jumeirah, etc. So if you are planning to invest in luxurious apartments, it would be better to go with these locations.
Delayed Dubai EXPO Will Increase Demand For Rental Properties
Due to the pandemic, you probably know that Dubai’s Expo has been scheduled for October 2021 instead of 2020. However, did you know that this delayed global event will increase demand for rental properties? Yes, you heard right. Expo is the event of industrial goods that lasts for six months and gathers thousands of visitors worldwide.
So naturally, most of these people will look for rental accommodation in Dubai. Due to this reason, many foreign citizens are investing in apartments and villas in Dubai. By doing this, they will get rental yields almost immediately.
Not only this, there is a high chance that Expo 2021 will spark the interest of many exhibitors in Dubai. And this, in turn, will incline demand for rental apartments, which will transform into buyer’s demands over time.
New Golden Visa for Foreign Investors
To attract more foreign investors, Dubai’s government has brought the Golden Visa. This new system allows the investor to reside for 5 to 10 years in the fastest-growing city of UAE. Not only this, after getting the Golden Visa, you will enjoy all the rewards like the citizens of Dubai, without even staying there.
For example, you can access bank accounts as well as financial services and bring your dependent family to Dubai.
Apart from investors, this long-term residency visa is also available for skilled professionals, students, and artists, which further boosts the property market.
In Final Words
The UAE real estate market is ever flourishing, and it’s the right time to buy property in Dubai. If you’re worried about the documentation, get relaxed. Dubai has introduced a smart portal named REST, which has simplified all the transactions and paperwork.