Dubai is one of the fastest growing cities in the world, the most dynamic real estate market and one of the few places on the planet where it is possible both resell a property that has not yet been built with a profit. If you want to buy real estate in Dubai and then resell it, just read this article.
The main reasons why real estate at the construction stage is worth buying in Dubai are the constant price growth of up to 20% per year, the demand for housing due to the ever-increasing population and the influx of wealthy individuals, as well as a large selection of luxury houses and apartments in modern residential projects.
Moreover, foreign investors choose Dubai due to convenient migration legislation and favorable tax regime.
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Promising real estate market
According to Knight Frank, real estate prices in Dubai rose the most in the world after Hong Kong — by 19%. In the first quarter of 2013, the record was broken: housing prices rose by 27% year-on-year. Nowadays, Dubai is one of the most expensive cities in the world in terms of real estate value. Luxury villas cost about USD 5,600 – 6,200 per m2.
It is now the most profitable time to buy real estate for investment. From 2008 to 2011, the Dubai market experienced a crisis, prices fell, so many development projects were frozen. In the last two years, prices have been rising and there is almost no risk of losing funds during resale.
Construction market in Dubai is the busiest in the world. The largest city in the UAE is known as a place where the most incredible records are set: there is the highest building — Burj Khalifa and the world’s largest shopping mall —Dubai Mall. However, the Dubai authorities are not going to give up.
The authorities plan several grandiose projects that will contribute to the influx of tourists and buyers of real estate, which will increase both prices and the ambitions of investors. Among such projects is the construction of the Mohammad Bin Rashid City (MBR City) in an empty area on the territory of Dubai.
Best areas to buy a property
The most promising areas for investment are Dubai Marina, Palm Jumeirah and Downtown Dubai. The coastal areas, such as Dubai Marina and Palm Jumeirah, have always been popular. Downtown Dubai is a more stable market, which today attracts the close attention of foreign investors. When choosing a property for subsequent resale, it is worth paying attention to other factors, for instance, whether there are additional amenities in the building.
In order to assess capitalization, it is important to understand at what point investments were made in the project. The earlier the object was purchased, the higher the percentage of net gains. Of course, it is impossible to give a general indicator. It all depends on the location of the object, the type of real estate, infrastructure and a number of other factors.
We will help you buy property in Dubai
For the first time, the government has set the goal of increasing the level of happiness of the population and is actively working to implement it. As Dubai is rapidly transforming with state-of-the-art technology and innovation, the city now has the highest rate in the world. Dubai caters to all the basic needs of both residents and visitors alike. Now it is the right time to become a part of this megapolis and increase your happiness index. AX Capital will help you in it.