Why now is the best time to buy property in Dubai?
Perhaps many of our readers have noticed a certain contradiction: numerous messages in our newsfeed saying that the real estate market is going down and becoming less and less juicy for investors, and at the same time dozens of messages telling how new construction projects get sold out in a few days or weeks. If there’s really a crisis on the market, why do so many people dare to buy property in Dubai?
The best time to buy property in Dubai.
In fact, experienced and smart investors know something that the others don’t. Yes, they keep track of the news, but they analyze it from the long-term perspective. And it’s quite obvious for them that now is an utterly favorable time to buy property in Dubai. Why? Let’s see…
The lowest prices to buy property in Dubai
If you compare the number of transactions and the prices for estate throughout the last 5 years, you’ll notice that price growth follows the increase of the market’s activity with about 6 months delay.
This delay is quite clear at this chart:
From this chart we can also observe that the smallest number of transactions in the emirate was at the end of 2015. After this decrease, a gradual increase in the number of deals began.
We don’t take in account a little drop in July — the market always freezes during Ramadan.
And if half a year ago the number of transaction had started to increase, what will happen today? Exactly, the prices for real estate will go up as well. Therefore, the best option is to buy property in Dubai right now:
- In 6 to 12 months the estate will cost a few percent more than now, and even simply reselling it would bring profit. If you put it up for rent for the next 6 months with help of a good agency, it will also bring sizeable return on investment.
- Buying an apartment in 6 or 12 months will cost more than today. Today it is a great opportunity to get in the very nick of time, as there’s almost zero probability that the prices will remain the same.
What is more, Cityscape Global is taking place very soon. It’s a great opportunity to meet with representatives of the developers face to face and pick out the most suitable apartment or villa for you.
Almost the entire September is perfect time to buy property in Dubai at the lowest prices possible.
How reliable is that?
Of course, this undertaking is not totally deprived of risks: the tendencies and numbers in the chart can be amended by political or economical events in the country. But these risks have always been and they’ll always be there. If you decide not to invest today simply because of this theoretical probability, then probably the best time for investing for you will never come.
On the other hand, the Dubai market has shown outstanding stability throughout the last 2 years. The economy of the emirate shows apparent growth, export and import are well-balanced. The government is wise at controlling the developers, not letting an economic bubble to appear. The oil prices do not directly affect the city anymore. Thus, considering the majority of factors, it is safe to conclude that today is a very expedient and advantageous moment to buy property in Dubai.