Dubai Property Market Performance 2021
05/28/2022

Dubai Property Market Performance 2021

With an increase of 86% since 2008, the least one can say is that the population growth in Dubai is impressive, while the Dubai real estate sector is witnessing fierce competition prompting developers to come up with innovative schemes to attract buyers. A staggering number of expats are moving to Dubai drawn by all that the country has to offer in terms of security, exceptional business opportunities and appealing real estate incentives. The Dubai property market seems to have earned its unrivaled position as a buyer’s market in 2021!

2020 was undeniably a tough year for the UAE economy due to the pandemic, which had slowed down many businesses, especially property sales. However, the curve is definitely steepening, and now, more than ever before, is the right time to make the best property investment in Dubai.

 

Demand in residential real estate sector

Buying-to-let is the new prevailing trend within the Dubai property industry and is surely becoming a common component of any property project. Some 70% of residential units of the market in 2021 were bought for rental purposes. According to Khaleej Times, with more than 80% of expatriates in the UAE still renting, the Dubai real estate market is definitely moving towards this short-term, highly on-demand model.

On the other hand, expats who’ve been living in Dubai for long years on renting basis and are planning to stay here for years to come, wish to own their home and go by the motto: Owning is better than renting. Consequently, the demand is on the rise as this seems to be a win-win situation for both investors and buyers, with the latter benefitting from attractive flexible payment plans and striking incentives, thus saving the rent money, whereas investors are seizing the soaring rental market to generate good returns on investment with exceptional asset appreciation. The Dubai real estate market has proven this year to be the epitome of successful performance rebound from the global pandemic.

 

More incentives and payment flexibility

Developers are now offering real value for money in order to attract buyers. Every shrewd investor knows the rule: Buy when the market is low and sell when it’s high. And this is the best property investment time in Dubai. Outstanding perks and payments facilities are very tempting since developers are offering extremely alluring deals to prospective buyers of residential units, potentially with as many as another 36,000 homes to be made available soon as Dubai witnesses a real estate boom.

In terms of payment plans, developers are clearly playing banks’ role to stimulate the demand for both off-plan and ready properties with creative flexible payment plans. For instance, the deferred payment enables buyers to pay a small percentage of the purchase price upon the sales contract signature, a further proportion on handover of possession of the unit and the balance over a certain extended period in equal instalments according to a schedule agreed upon by contractual parties. The title deed of the property is then transferred to the buyer’s name once all payments are completed.

Some developers are also partnering with banks regarding down payment loans designed for customers who can’t afford it.

As for incentives, they are also very enticing, from a never-before-seen discount on school fees for some residential projects to the 4% fees payable to Dubai Land Department and borne by the seller.

Other incentives created by the government include property tax in Dubai. Once the property is bought and the registration fee paid to DLD, there is no other government tax to be paid against the purchased property at all.

Getting the resident visa or even citizenship are other interesting extra benefits as foreign buyers can become eligible to such privileges once the property purchase in Dubai has been finalized and full payment made.

 

Dubai Proeprties’ sold-out properties

With over a decade and a half of experience in the Dubai real estate sector, Dubai Properties has built name recognition as a leading residential developer by creating residential destinations that reinforce Dubai’s position as a prime location for living and investment.

Dubai Properties prides itself on providing real estate projects that have garnered international acclaim for their striking design, accessibility, and profitability. Building on its well-deserved success, most of Dubai Properties residences located in family-friendly communities are sold out, including Arabella townhouses, Bella Casa at Serena Dubai, Casa Dora and La Quinta, The Villa and Al Waha villas.

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