Investing in real estate is a bold choice that saw increased popularity in the last few years after it proved to be one of the safest and secure ways of investing in a world that is changing so fast! However, many still feel reluctant to take this step for many reasons, and perhaps the assumption that taking this step requires a lot of money beforehand, which is a bit inaccurate. In this article, we will see why Dubai is an ideal destination for investors with little cash.
Why This Happens
Buying a property starts with full payment of the property value, or with down payment & 3 months or 6 months’ worth of payments in cash reserves and some closing covers. These numbers combined could be a turn off for many investors, especially first-timers and those who aren’t very well-off. However, this stumble differs from one region to another and depends on the real estate developer, agent, and experts you are dealing with
As an investor with no firm financial power, choosing a location where payments can be affordable and where you can expect returns on your investment is vital, as investors with little cash can’t take risks like big investors.
In fact, Dubai has been an ideal destination for this sort of investments with its off-plan sector increasingly growing, thanks to new laws and initiatives. First-time investors or those with little money will look at off-plan properties as a choice for many reasons:
– They are cheaper compared to ready properties
– Off-plan properties don’t require full payments most of the time, making it easier for investors to pay, in addition to different offers and plans that many developers and agents provide.
– Investors can get maximum returns on off-plan properties, as tenants will pay more to live in a new house.
If you are investing in off-plan properties, you need to know everything extensively about the property, and while this might seem tricky a little bit, it is recommended to ask for help from professionals who will provide you with everything you need to know about the investment.
Property in Dubai costs less actually
Compared to other major cities around the world, Dubai’s properties are much cheaper. A square meter in London will cost 34,531 USD on average, while New York stands at 18,499 USD per square meter. Dubai comes behind many big cities like London, Hong Know, and New York with 5,037 USD Per square meter, more than six times less than London. With its global ranking among these major cities and a significantly lower price per meter, Dubai seems to offer smart investments in terms of real estate that don’t compromise the market potential for its reasonable price.
In addition to the reasonable prices and the blossoming off-plan market, there is one more crucial reason to pick the city today for your smart investment: the future potential! As experts say, 2021 is going to be a turning point for the real estate market for Dubai, with strong expectations of growth due to governmental strategy named ‘Dubai Vision 2021’ and other factors such as Dubai Expo 2020. Buying off-plan in today’s market and investing in it later is one of the most secure investments due to the city’s stable performance.
So, are you willing to take this step? If the answer is yes, we at Lavista can help you pick the right investment. We conduct thorough research to find the golden chance that fits you, your budget, and your expectations, with more than 20 years of experience in Dubai’s real estate market and incredible deals!