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By: Admin August 19 , 2021
There are no second thoughts in saying that the global real estate industry was badly smashed during and the Covid-19 pandemic aftermath. Dubai real estate was amid this aftermath repercussions as well. The mavens of the industry predicted a healthy comeback after the alleviation of the condition. Gradually, things are subsidizing and Dubai real estate is gaining pace.
Considering the pandemic backdrop, investors are suggested to consult real estate experts because there are different factors that affect one’s investment in Dubai real estate. Availability of funds, the bank’s appetite to lend, and revival of the job market are prime factors that cannot be ignored. Hence, UAE expats willing to invest in the real estate space of Dubai must get in touch with a professional mortgage consultant.
The Shifting Conditions- Signs of Upheaval
With the onset of vaccinations getting approval from WHO, vaccines like Russia’s Sputnik, India’s CoviShield, and America’s Moderna have brought a ray of hope. It will not only immune humans but also build a shield around the global economy, including the UAE for the revival of Dubai real estate. Indeed, it is delighting news for all, especially expats in the UAE who are longing for owning a property in a city like Dubai.
Currently, the costs of real estate-related funds are at the turf. It clearly states that if an investor has a sufficient mortgage, he/she must invest in buying a property in Dubai after approaching a mortgage consultant in Dubai. This will lend a helping hand in making a wise decision benefitting in the long run.
The UAE Real Estate is Booming
As per the data shared by GRETI (Global Real Estate Transparency Index), a scalable improvement was recorded in the real estate industry of the UAE. Furthermore, the reports also listed Dubai and Abu Dhabi as the hubs of global investment. The reports and statistics submitted by GRETI are widely regarded in the region and investors can rely on these reports generated on the ground reality.
Talking in concern with the affordability of the properties in Dubai & Abu Dhabi, the evaluation has been stamped as ‘excellent’ by the officials. The comparison was done with the value of properties in renowned cities like New York, London, and Paris. Hence, investing in the Dubai or Abu Dhabi real estate domain would be a golden deal for the UAE expats.
Indian Expats Lead The Pack
As per the official data released by DLD records, the Indian expats topped the chart for investing in the Dubai real estate industry in 2020. More than 5100 Indians invested in the city’s real estate followed by over 4700 UAE domiciles. Other nationals in the list include people from countries like China, UK, Pakistan, Egypt are also among the top investors in Dubai real estate.
Compiled all together, the Indian expats, along with other nationals, invested a whopping sum of more than 30 billion Dirhams in 2020! They’re followed by Emiratis, British, Chinese, Pakistani, and French.
When Stars Are in Your Favor, Miracles Happen!
Exactly! When stars are in your favor, tables turn in your favor. If you are an expat longing for buying a property in Dubai, this is the apt period for investing in the industry. The mortgage rates are low, loan-to-value is high, and service charges have been alleviated that clearly carve out a win-win situation for expat investors.
Understanding the existing situation, the lending appetite of banking and will begin to flourish in the near future. Soon after things get normalize, everyone will witness the upsurge.
All in all, the overall condition for expats favors them in buying properties around Dubai. The summer of 2021 is expected to bring fresh hopes with the upsurge in capitalizing low property prices.