According to our active research on the platform of Quora answers, we’ve noticed an immense amount of interest and curiosity about Dubai Real Estate. Questions such as “Why Dubai Real Estate?”, “Is it a good moment to buy a property in Dubai?”, “Is this the right time to invest in rental properties in the UAE?” and “What is the future of Dubai Real Estate?” are the ones that are usually associated with the “Dubai Real Estate” tag. Subsequently, the interest is understandable since Dubai properties have some incredible properties and locations at hand. Who wouldn’t be looking forward to investing in them?
Read More – Best areas to invest in Dubai.
In a report made by Laura Adams at Carlton Real Estate, she predicts significant market changes and stabilisations by the year 2021. The main reasons for this prediction are the progressive demand slowdowns and the rise of demand in the Real Estate sector in Dubai specifically. Even though the current market may be facing challenges, this is one of the best time for investors since there are some good deals that can be taken advantage of this point in time.
Governmental support and efforts
Recently, the government has been making significant efforts to make Real Estate a more accessible asset class within Dubai. Previously, it was the asset class only accessible to 1% of the wealthy in the country, meaning that they could easily buy Real Estate and even start earning from it. The regulatory efforts and price corrections within the city are allowing Dubai Real Estate to become an attractive investment for several people.
Incidentally, as an assurance of government efforts to making investments more accessible, Dubai launched a virtual licence for overseas investors and entrepreneurs. According to an article by ArabianBusiness Virtual Company Licence, owners can manage all their activities, including document signing and submission digitally, and the signatures are legally binding in the UAE.
Another example would be the announcement of joint property ownership in Dubai. The new law applies to all major real estate development projects and jointly owned properties in Dubai, including those located in free zones and special development zones.
They have also helped to regulate Real Estate Investment Platforms (REIPs), that offer Real Estate Crowdfunding, meaning that people can now invest in properties for an incredibly low capital, reducing the pain points of Real Estate Investments. The emphasis is to target a market that not only allows white-collar employees to invest but to a wider market of everyday individuals who have always wanted to invest but don’t know how to start or don’t have the “big bucks” to invest in whole properties.
The future of Dubai Real Estate
In addition, new laws are constantly being issued in order to amend the Real Estate sector and its conditions in the market. The Dubai Land Department (DLD) announced a 134% increase in real estate transactions in comparison to the past 3 years. Moreover, the creation of the emirate’s new Higher Committee of Real Estate earlier in September was a huge positive initiative towards the investment market of the emirate. This initiative may prove to put a floor on the market and provide investors with more confidence in the market.
Consequently, if you are looking to buy, this might be the most opportune time for you to be able to do so. As more promising innovations and laws become prevalent in the Dubai Investment Market, it is surely set to soar. All of these amendments and new outcomes have allowed the market to become more accessible to several kinds of individuals. As we always say here at SmartCrowd, investments are no longer for the 1%!