Dubai property market has gone through a series of ups and downs in the recent years although the collective market is seen to have stayed steady. Between 2014 and 2016, the prices of housing fell to 17%. However, those who had bought property in Dubai are at an advantage because from 2016 onwards the prices started to rise. Even if the prices go up, this middle eastern city provides so much more that people find it hard to resist when it comes to buying or selling property in Dubai. However, there still are few things, which need to be considered when you go to buy property in Dubai.
Consideration
The things that require consideration before buying or selling property in Dubai are as follows;
• Location: Dubai is a part of United Arab Emirates GCC state and comes under the rule of his highness. Due to his wise leadership, it has become the world’s most prominent business centers and comes among the best investment destinations.
• Demography: the most important contribution in making Dubai the top business centers is of the various nationalities from different areas around the world. It has a population of 2.7 million and about 88% expats. This takes its industry to a new level.
• Freehold areas: In 2000, Dubai authorities changed the law and allowed the foreigners to buy properties in Dubai but only in specified areas known as Freehold areas. Property for sale in Dubai is also found largely in these areas.
• Future of Dubai: The city is taking many large scale infrastructural and real estate projects along with world renowned event.
• Researching the area and developer: Investors should be very careful when it comes to deciding the location of the property that they plan on buying. Along with this, the developer’s track record must be checked and so does their credibility and professionalism
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