When the Covid-19 pandemic shocked the world with the financial setback, UAE was greatly affected economy wise. Dubai, as one of the top cities for real estate investors, was beaten down, due to the aftermath of the pandemic. As easy as it was to buy villa in Dubai, Covid-19 made it more complicated. However, experts now predict that a significant comeback is expected soon in the estate agency market. The question is, what does this forecast mean for buyers and investors?
Now that there is a pandemic backdrop, the professionals are recommending that people who are looking to enter the residential market as a beginner should take some smart actions right now. There are several macro factors that are playing a major role in healing the economic market of Dubai, such as funding, the revival of the job markets, and banks’ risk appetite.
Post pandemic property flux-ease
As the uncertainty around the global pandemic dissipates more extensively along with developments around the possible penetration of a vaccine in the market, it is natural to feel confused and agitated as an investor. However, an economic rebound is pretty much expected, that will aid in the revival of all the damaging facets of the Dubai economy. News like this can not get any better for real estate investors in the UAE, specifically the real estate market, as it contributes to 40% of the economic growth.
If you are an investor who has the liquidity and the resources to support a mortgage, now is the best time to purchase. Why? Because the valuations are getting more and more attractive and the cost of funding related to real estate has never been this low. However, before one plans to invest in property in Dubai, it is mandatory to gauge how investor-friendly the estate-market is at the moment. The reason is that you can lose your investment in a swift if you do not have any idea how the UAE property market is performing right now. Therefore, never make a move without proper research and hard-thinking. Your hard-earned money is valuable, and you should always make decisions that will double it, not reduce it.
The rise in the attractiveness of UAE property
In the last few months, the UAE’s real estate industry reported impressive improvements in global property consultant and investment manager JLL’s GRETI (Global Real Estate Transparency Index).
JLL’s GRETI 2020 offers a factual and straightforward measure of the real estate market transparency. Along with that, one can also analyse the city’s entire real estate investment health, which is a useful tool for investors and buyers. They can use it to make sound decisions when they are dealing with property matters. In the report, it was revealed that more and more investors are getting attracted to Dubai and Abu Dhabi, claiming that these two cities can become the global investment hub in the future.
Another factor that is playing a major role in increasing the value of property in Dubai is affordability. As compared to other global cities, the worth of property is exceptional and suitable for expats in a number of ways. Moreover, according to the UBS Global Real Estate Bubble Index, Dubai is more fair-valued than other global cities including London, Paris, and New York.
UAE expats are among the top investors in real estate
Last year, Indians were the top investors in Dubai’s real estate sector. Only in 2020, around 5,246 Indians invested in property in the Emirates. These stats were released by the Dubai Land Department (DLD). Along with that, 5,172 property investors were Emiratis. People from all around the world come to Dubai in hope of a better and richer lifestyle. That is why most expats end up as big investors. More from the DLD records, 2,198 Saudi investors bought assets in Dubai. 2,096 investors were of Chinese nationality followed by the British with 2,088. Furthermore, Pakistani investors came sixth with a number of 1,913.
These facts and figures are enough to make an understanding that the real estate market in the UAE will not slow down anytime soon after the predicted rise. Now, you can easily invest in places like Bulgari residences Dubaito secure profitable assets for your future.