If you wish to get onto the Dubai property ladder, this could possibly an ideal time for you invest in the real estate market. Dubai house prices are expected to rise ahead of Expo 2020.
Are you baffled upon deciding what type of property you should invest in? Myvilla is here to help you with the handy pointers.
Few newbies in the market include Dubai Sports City, Al Furjan, DSO, Dubai Land, Motor City, and JVT. Buyers should keep a note that they mostly have a lot of stock under construction, with more in the planning pipeline which will have an evident impact on supply and therefore possibly restraining your capital growth prospects.
However, property is a waiting game. High entry costs plus additional exit costs mean you need to have at least a five-year time frame in mind. And with prices at three-four year lows, your chances of gaining a positive result by 2020 and beyond are highly possible.
If you are looking for off plan, consider to factor in a minimum of a one-year delay from what you've been quoted by the sales agent. Whether by design or miss-happen, new projects nearly always take longer to hand over than expected. We've all heard the horror stories of buyers who have forked-out large deposits many years ago and are still waiting.
Luckily nowadays, buying off plan with a less than 50 percent deposit is the norm and progress payments are (usually) connected to construction milestones, which offers off plan buyers good amount of additional protection than was available previously.
If you are planning to buy a villa, myvilla.com search and price figures have continuously shown that affordable villas are an unsupplied and over demanded segment of the market. Haus & Haus is the best-priced option.
These probable have the best capital growth anticipation and rental yields in this segment, are also strong. Contrary, at the very top-end of the Dubai market, Emirates Hills and Palm Jumeirah villas offer the lowest rental yields of just three percent.
As compared to the most parts of the world but for buyers in this segment with Dh20 million-plus budgets, rental yields are usually not at the priority. Value for money here remains excellent irrespective a record high dollar and decreasing property prices in the European market.