Dubai is popular among the holidaymakers and the business associates. It has tax free salaries and lots of shopping facilities which makes it unique and attractive to travelers.
The Dubai real estate or Dubai rental market is going in a rapid growth as there is a huge construction going on due to which there is high demand in buying a property. But with this it is also observed that buyers sometimes feel hesitant to buy a property in Dubai. Sometimes there is a huge downfall in demand as investors get confused whether to buy a property in Dubai or not. This is because the buyer thinks that the price graph has reached to lowest line and now there are chances of rise in price. But with this there are reports showing a huge demand of Dubai property.
The answer to the above question can be given by asking yourself that how long you are going to stay on Dubai or the type of property you want. After 2002 the foreigners were allow to invest and own Dubai properties. Those who purchased property in the beginning years are very happy which created huge demand in Dubai property. This demand increased so rapidly that it could not sustain longer.
If one is planning to stay in Dubai for around 3 years or less than 3 years then buying any property there will not be a good idea. The best option is to stay for rent as your stay is on the temporary basis that is for short period of time. In this when you buy a property then in future when you want to resell it, it could be possible that you do not earn more money.
There are few projects related to construction that is not yet complete. Few of these Dubai property are owned by investors who want that their property should start to pay back quickly. When these new property come in real estate market the mortgage rate become higher. So if you are planning to stay in Dubai for short period than you should not buy any property. Most experts agree that if you buy a property now than after three years you will have huge benefit if you sell it. But the fact is that mostly the investors who buy property now and sell few years later go in to loss until this lowering of market reverses again.
If you are going to stay in Dubai for long period of time you should buy Dubai property to have benefits out of it. In this way you are able to choose longer mortgage term so can keep the payments on control. You can also rent it out and make your property an asset for yourself. You will then have a long term gain.
The buyers of Dubai property should contact any reputable, time effective agencies. These reliable agencies can help you by giving advice related to the process and other factors of purchases of property. Real estate agencies will tell you how, when, and where to buy property in Dubai.
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