Dubai's property market rife with opportunities

dubai - If you are eyeing lucrative gains, it is recommended that you buy a property in suburban localities

Dubai is the most modern city in the Middle East. Its awe-inspiring structures are deemed the acme of architectural beauty and its economic environment support hundreds of businesses every year. For this reason, the emirate attracts thousands of people each year who eventually end up strengthening Dubai's real estate market. If you have been wondering whether it's the right time to invest in the realty sector of the emirate, let us lay down some of the opportunities you might find worthy of your hard-earned investment.

What's in a location?
So, what's the first feature everyone considers before buying a property? Location, right? In case of Dubai, the entire emirate is one great location to invest in and every inch of land here is expected to gain value a few years from now. This is because the real estate prices have already bottomed out as the government authorities have successfully cleared the property market of flippers. This means your investment is safe, there are absolutely no frauds and there is an increasing demand for rental properties as well.

Returns
In terms of return on investment, the rental segment of Dubai's real estate sector is a huge revenue earning opportunity as rental spaces remain in high demand. According to Bayut.com, rental yields in Dubai go as high as 10 per cent in select apartment categories and demand is always high in areas where properties are affordable.

So, if you are looking to invest in the emirate's realty sector and are eyeing lucrative gains, it is recommended that you buy a property in suburban localities; especially those which have been complemented by the Metro Red Line extension.
Payment made easy
Real estate developers in Dubai are now offering flexible payment plans in a move to increase sales. As the competition among property developers heats up, the real beneficiaries of this competition will be genuine property buyers. Keep an eye out for new developments and benefit from the freebies that developers offer to boost their sales. Some of them even go to the extent to pay property transfer fee for you while others offer installments as low as one per cent of the property value.

Expo effect
But that's not all. Dubai Expo 2020 is just a few years away and development and preparations for the mega event are taking place at a massive scale. Thanks to Expo 2020, Dubai's south is headed to become as popular as the emirate's north and the prices are really economical in the former. One can easily invest in areas that fall on the southern end of the emirate if one wishes to extract long-term benefits from their investment.

Apart from all the benefits associated with Dubai, the emirate is also a land of countless opportunities that promote high-end living experiences. Moving here could be an experience of a lifetime for many. And if you can invest a decent amount in the emirate's real estate sector, the government will give you a residency visa that could be updated every year!

The writer is a real estate analyst at Bayut.com. Views expressed are his own and do not reflect the newspaper's policy.