Abu Dhabi and Dubai are the most famous of the seven emirates. The first is mainly due to the fact that the capital of the UAE is located here. The second one is popular for several reasons: it is not only a tourist destination, but also the largest commercial and financial center in the Middle East.
Recently, the Dubai real estate market has been experiencing a real boom: on average, twice as many square meters are sold here than in all other emirates combined. Experts thebroks.com believe that potential investors and buyers of real estate from all over the world are attracted by the following points.
- Dubai treats foreigners very kindly: their share in the total population of the Emirates reaches 90%.
- UAE is in second place in the ranking of the safest countries.
- Dubai is among the top 5 cities on the planet in terms of a number of indicators: infrastructure development, population diversification, security, etc.
Real estate investments: How to choose?
Despite the unstable political and economic situation in the world, it is safe to say that the UAE property market is ready for any crisis: at the moment demand exceeds supply and there is no reverse trend in the near future.
Should supply and property values increase, investment opportunities remain promising and profitable. However, it is important to understand the end goal and invest wisely. Some types of property are more profitable to buy for resale, others for renting out and maximising profits.
In 2015-2020, Dubai underwent a correction procedure, so property prices were significantly lower than in other major metropolises. At the moment, the cost of property is lower than the price maximum of 2014, but is gradually moving towards the world marks. Experts believe that in the next 9-12 months, the number and volume of property transactions will increase, while the cost will remain relatively stable.
It should also be noted that in addition to Dubai, investors in the last few years are considering other Emirates, including Abu Dhabi. Previously, foreigners were prohibited from buying property here in 100% ownership, so they were content with renting, for a period of 99 years. Since 2019, citizens of other countries have been allowed to buy property in freehold zones. High rates of market development make the Emirate an attractive place with high returns for foreign investors.
