Dubai is the place known for its skyscraper buildings & architectural masterpieces! It is also the business hub of the Middle East. Buying a property or investing in Dubai real estate market is an attractive opportunity to live & grow in the Emirate. 2020 has been a shocking year for all and Dubai’s real estate market has also seen a sharp fall in demands in the market.
Dubai’s property laws & residency visas have also encountered changes in the current laws to ensure easy buying of the property. Reach out for your dream property in Dubai as the real estate market has started to recover from the shock. Many real estate agents and developers have reduced the pricing during the COVID-19 period & the buyers are looking for opportunities to purchase a home that provides ‘value for money’. The real estate market is again going to see positive trends in the mere future & thus investing in Dubai’s real estate market is the right time for you!
Dubai’s real estate market is expected to recover 50% from its gradual loss in 2021, though most ex-pats say it depends on the condition the world is facing. As more foreign visitors come to the place, the demand for property will automatically rise.
Here are some of the future trends in Dubai’s real estate market –
More flexibility in the property buying process
The market will see or notice gradual flexibility in lease terms as the apartment owners in urban areas easily agree to the signing of agreements with short-term renters to combat the lease-up environment. The lease terms will become more flexible as the individuals travel & relocate given the work from home trends.
Increase in inventory
The sales inventory is currently how because of the political uncertainties in the region & also the health concerns. The rising prices in some areas can also benefit from holding off on selling their properties. Dubai is a desirable place to live & thus the demand of the place will stay. But, with more relaxations around the world, the supply & price appreciation will slow down.
Increase in foreign interest
Foreign interest and investment have been slow since the end of 2019. But as the pandemic is slowing down, the increase of foreign interest is bound to increase. The renewed foreign investment will provide the real estate market the much-needed support to comply with the demands & also shape the future.
These are just mentioned few basic trends expected of Dubai’s real estate market in 2021. As time moves on and the world realizes the need to embrace the situation, there is going to be more investment & interest in Dubai’s real estate projects. People will again start coming to Dubai to work & live a fruitful life. Buy a suitable property in Dubai and make sure you spent an encouraging time with your family.