Factors Worth Considering Before Buying Real Estate in UAE - Blythe & Company

September 13, 2019by Blythe & Company0

There have been an increasing number of developers and major influx of projects mostly residential properties in the market due to uncontrolled supply. Developers are constantly outdoing one another by launching various offers on the market. You may want to consider the below before exploring the Real Estate Market in the region.

The UAE is an innovative country that depend mostly on Tourism and Real Estate to boost its GDP.

Get an independent opinion from a Consulting firm

A lot of investor under estimate the value a good advice adds to the success of their Investment simply because they are trying to save couple of thousands that is insignificant to the Investment value. A brokerage advise is not the same as getting a stand-alone opinion as most brokers tend to sell investors properties where they are promised more commission. We have had people approach us after falling victim to rectify their initial mistake which has led to making poor decisions and eventually left them with assets with low yields in their portfolio that nobody is willing to buy or rent.

Location

Geographical location is key when it comes to real estate. There is no point scouting for “affordable” prices If you re going to struggle to find someone interested in the property or even make decent returns on them. Although the offers of developing locations might be tempting but if you must delve into it then it has to be for good investment reasons.

Credibility of a Developer

The number of developers in the UAE especially Dubai keep increasing and most of the cases we examine have to do with clients getting confused on which developer to invest with. It is possible for a developer to have an exciting product usually off plan, but trusting them to deliver what they claim or even keep to the timing is a challenge. Late delivery will have a negative impact on yield projection which deem the property a bad investment choice. Even leading developers can be guilty of delays sometimes but there is a cap placed on delays by the body governing buying and selling of Real Estate. It is important to weigh on this factor before parting with your hard-earned money.

Economic situation

The real estate market was a bit softer in the beginning of the year with rental cuts and slump in property prices but the market is beginning to take shape as we get closer to EXPO 2020. Seasoned investor are taking advantage of the current economic situation as an opportunity to invest while holding on to the existing assets in their portfolio. The investors that invested in 2008 made a fortune when the market peaked in 2014 – 2016 when they sold their properties. Weighing in on economic factors is crucial to any Real Estate Investment as well as taking advantage of the current market, It is a buyer’s market and Investors capitalize on this and expect major yield in the coming years.

The UAE is an innovative country that depend mostly on Tourism and Real Estate to boost its GDP. Overall initiatives are constantly been put in place to encourage investments and being a smart city guarantees safety for expats and tourist willing to live in the UAE.

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Copyright by Blythe and Company. All rights reserved.