2021 Dubai’s property market has rather matured and prices got stabilized since a few years back, apart from 2020 upon crisis making this a GREAT TIME for investing in a property that you can enjoy LESS COST with HIGHER VARIABILITY.
First of all, its economy is being expected immensely positive throughout the year 2021. Like other nations, UAE’s economy was hit hard by the coronavirus outbreak, that led real estate, tourism, and trade sectors down by 10.8% in the first half of 2020 and got COVERED UP by a contraction of 6.2% in the last half of the year and further expected GROWTH of 4% in 2021’s figures.
Secondly, a long-awaited EXPO 2021 is finally taking place from 1st of October 2021- 31st March 2022. Through this international exhibition designed to display UAE achievements, businesses will be back to normal and many more investments will flow into to the country. Fortunate enough to say UAE will be the first to witness a significant improvement since the crisis.
The Central Bank of the United Arab Emirates’ has offered 5% increase in the loan ratio for first-time buyers and a 50 pts less than average interest rate. Average discount we are getting this year to own our dream property falls about 10% less. On the other hand, major developers are also running lots of promotional offers and payment plans for properties sold off-plans.
Dubai’s ease of transport to other world’s cities makes it ideal for businesses and even for a second home . This is one of the pioneer evaluations comes into considerations in terms of investing into global property market. Moreover, Dubai has the high quality lifestyle with a little less spending on accommodation compared to other major cities of the world such as Singapore and New York where small studios starts from 1 million USD.
Right time to invest
To wrap, Dubai’s Real estate market is the right place to invest because of the down slope of the price curve at the time being. The Dubai real estate future is foreseen extremely bright as many more projects are on the way to drop once the world situation gets little moderated.