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    May 2nd 2019Dubai Property Market, future of dubai, real estate market in Dubai

    Future of Dubai property market

    Over the past few years, the Dubai real estate market has seen a decline in prices. The real estate market has witnessed softer periods in recent times. Factors like weak oil prices, stronger dollar are some of the factors that have played a key role in this. If you’re a investor in Dubai’s property market, then you maybe worried about your investment. You don’t need to worry, for the future of Dubai property market, seems to be on the right track.

    Dubai ranked sixth highest for inbound property investment, continue to be a center of attraction for investors across the world. Chinese investment has been particularly since the policy that allows Chinese nationals a visa on entry into the country has been implemented.

    With many strategic infrastructure projects expected to complete in 2020 in preparation of Expo 2020, experts have predicted an upsurge for the Dubai real estate market. Even though the last few years have been tough, for a place like Dubai, it is only a matter of time before the market again starts on the upward trend.

    The third quarter of 2018 saw a 56% year on year increase, acc. to the market update by Egyptian investment bank EFG Hermes. Though the prices are expected to remain on the lower side for the first 2 quarters of 2019, making it a good reason for investing in Dubai property now because of the low prices, the drop in prices over the year is expected to be only a minor one.

    With the competition between developers becoming more intense with every passing year, it should result in more attractive prices and better post payment plans, resulting in a increase in no. of investors. Also the competition is have left the developers with no choice but to be more creative while creating their offering for the buyers.

    Foreign investors will continue to play a key role in the Dubai’s real estate market with China and India expected to top the charts for the coming years.  There are several factors for the investors’ interest in Dubai’s property market including the world class infrastructure, access to premium education and healthcare and quality of life, being some of them. Trendy neighbourhoods in Dubai creek harbour, Dubai hills estate, continue to gain traction among the investors.

    Expo 2020’s positive impact is also expected to start showing soon. With millions of visitors expected to show up for the expo, the decrease in rental price should also down with a surge in demand. Though developers are well prepared to offer the visitors lot of options, the price decrease is bound to slow down. The economic activity, increasing as Dubai inches closer towards Expo, is also expected to attract more residents to the city.

    Dubai Land Department is also working on increasing the level of transparency with the Real Estate Self Transaction (REST) announced last year. This will make the transaction process more investor friendly.

    Written and published by Propertyeportal Media Team.