There is a wrong perception that real estate is dying in the Dubai and investing money in it a total loss. So what my take on it? There is no doubt that Dubai real estate market is going through a rough patch but is it dead? No sir No way. Real Estate market of Dubai is still one of the strongest real estate market in the world. Dubai economy is still going strong so there is no need to panic especially, I am very hopeful because of the recent developments. The government has announced they will give permanent residency to expats in order to encourage them to invest more in the city. I think this announcement will show a positive impact on the real estate market as it will encourage the expats to buy property in Dubai.
Real estate companies in Dubai are also very optimistic about the future of real estate because they think prices will go high after expo 2020. So good days are coming, it is better for you to hang on.
Expo 2020 Instant Effects on Real Estate
According to a rough estimate, there will be around 2 million people attend expo 2020. This will alone will boost the short term rental industry which is already enjoying good business. In this expo, Dubai will show the world what are their future plans. I hope it will encourage investors to invest in the most profitable sector in Dubai.
This is why I think it is a perfect time to invest in Dubai real estate market because in near future prices will touch sky high.
Why Short Term Rentals?
Short term rentals are the most profitable real estate type in the world right now. The amount of money it is adding to the countries/city economy is staggering. It is also empowering people to earn extra money by renting their properties for a short time. Platforms like Airbnb and dubbizle are industry leaders when it comes to Dubai short term rental industry. Real estate companies in Dubai are also very optimistic about the future of real estate because they think prices will go high after expo 2020. So good days are coming, it is better for you to hang on.
As the prices of properties are significantly very low right now, so it is advisable to buy a property and earn good profits through renting. The number of tourists who visits the city is increasing every year so this industry is not going to slow down.
Long Term Rental Future
I am very optimistic about the long term rental future because of the recent announcement in which the government will award permanent residency to expats. This is like a hope for all those expats who can’t afford their own property but they will know that once they afford it it will be there permanently. Nobody can throw you out of the country. As a first people will go for long term rental properties and save money. Once they have enough money they will buy their own homes and live there permanently.
I think the future of Dubai real estate is bright and government efforts to resurrect the property industry is commendable. If you are thinking to invest in this city then it is the right time to do it. All real estate companies in Dubai are hopeful for a strong real estate market around the first quarter of 2021.