More Reasons to Invest in Dubai Real Estate Nowdubai real estate dubai real estate properties invest in dubai real estate investing in Dubai real estate real estate properties
July 11, 2016
Before it became the great wealthy city that it is now, Dubai began mostly as desert sand. Older evidences even suggest that it originated from a mangrove swamp. The difference between the Dubai of the old and the Dubai of today is quite immense. And it is this ever-changing landscape that validates the reason to invest in Dubai real estate.
Dubai, being unoccupied and unpopulated, made initially living in it unenticing and unappealing. The city did not produce any oil until its discovery in 1966, and it only has very limited supply which accounts to 5% of the city’s total revenue.
With this fact, many people may not consider Dubai as a livable place at all. However, what makes Dubai unique is its location and its proximity to the sea and to other countries in the world.
Dubai is known for being an important port for trading goods to nearby countries and cities. Its proximity to the sea boosted its significance as an oil-rich region. Dubai is where east meets west to join hands in creating economic harmony with the whole world.
It’s almost impossible to imagine a prosperous and wealthy Dubai when one only thinks about what it was before.
Growing Working and Touring Population
Fueling Dubai’s real estate scene is the continued increase of its population, its workforce and the increase in tourism. Dubai, as the port it has been since its conception, continues to expand its real estate industry by building more tourist attractions. This keeps the city relevant and interesting.
Dubai also began constructing astounding real estate projects such as the Palm Jumeirah, which is a cluster of artificial islands. There’s also the majestic record-setting Burj Khalifa, and many of the other architectural and engineering marvels.
As the city continues to build, the tourist percentage increases. This means more opportunities for Dubai, such as the increase property value that will ultimately create more opportunities in sales and rental for tourists and expats who would like easy access to the city’s luxuries.
The growing population of the foreign workers has also fueled the growth of the real estate industry in both purchased and rental properties. Dubai has attracted a lot of its workers because of its openness, advantages, and trademark lifestyle that it offers to the expats.
The huge workforce and tourist population led to a big demand for Dubai’s supply of real estate properties. If you are planning to invest in Dubai real estate, this is a positive sign for you.
Real Estate Developments for All
Growth in population requires the real estate industry to cover all their bases in terms of market demographics in order to meet their clients’ demands. Real estate developers aim to be innovative with the projects they develop. Real estate developments make sure to cater to the tourist who would want to experience the luxurious life in Dubai. And the developers must also answer to functionality and convenience for the foreign workers who would want to have their properties as well as utilities, services, and other conveniences near their workplaces.
No Real Estate Bubble Just Yet
Though there have been reports of prices falling, which is an indicator of a real estate bubble, Dubai is not yet in the aforementioned bubble. The falling prices are due to the market’s correction phase. Another reason why the 2008 bubble will not happen is the market’s stability and maturity. The government has also taken steps to avoid a repeat of the last financial crisis.
Developers have also made adjustments in terms of offering flexible and attractive payment schemes. Rental yield has also been good as of late. This has convinced real estate investors to put their money in Dubai real estate.
One thing to keep your hopes high when it comes to investing is the upcoming Expo 2020 which will have a great positive effect on the real estate market.
Dubai real estate properties are still competitively priced compared to other countries, making it a viable place to invest in and a more attractive market compared to other progressive cities.
These are just few of the things that should encourage you to consider investing in Dubai real estate.
If you want to know which real estate property to invest in, you can contact For Est Real Estate to help you decide. Should you go ahead and purchase, feel free to talk to For Est Real Estate’s licensed agents.