The Gulf region’s a trade and tourism hub and host of World Expo, Dubai has experienced a boom in property deals. The sale values of real estate transactions until November last year were the highest yearly sales figures since 2014, Dubai Land Department data shows.
Dubai housing Price Rises UP
Found average home prices were expect to climb 7.5% this year and 5.5% next, compare to 5.0% each in the November survey.
Behind the pandemic and corona situation, the whole world affect economically and inflation go high with every passing day,
Though it’s the end of the pandemic, the world is moving fast and rapidly.
Low Purchasing Power
With every passing day, the price of property goes up and the purchasing power of buyers is poor. People don’t afford to buy property. The property rates went higher and people couldn’t afford to own a property. This will impact the market and realtors also go to be affected because real estate agency is the connection between seller and buyer.
Real Also: Why Should You Hire a Real Estate Agent?
Next level real estate observe the low purchasing power of buyers due to rise in prices in the property. In the past investors took advantage of low price rates and bought the property and after some time sold it with a profitable deal.
- Now the buyers can’t fix the deal because of the hike in price in property and unexpected scenarios. Like that of the world economic situation.
- The Dubai government has took some major steps to deal with ongoing scenarios and derive some positive momentum. All these initiatives in the real estate market are to lift up the market.
- The rise of real estate growth towards positivity is the major program of the government.
UNEXPECTED ECONOMY DOWNFALL
- Since the world is moving so rapidly and changes occur every day.
- Common survey found
- With ease in an ongoing covid pandemic, it may be expected low property prices but this is based only on assumption.
- DLD Dubai land department shows the survey report that inflation will go up to continue in 2022.
- The Nov. 18-Dec. 6 Reuters poll of 11 property market analysts showed a median rise of 5.0% in Dubai house prices in 2022, twice the 2.5% forecast three months ago.
- House prices were also expected to rise 5.0% in 2023.
LUXURY VILLAS IN DUBAI
- Luxury villas are the best option to live or to invest in and rent out later on.
- Villas are in very much demand in the Dubai real estate market.
- But due to the hike in price overall property real estate market, hike in the price of villas have been also increased by 30 percent.
- Which causes low purchasing ability.
- Inadequate and insufficient purchasing power.
- Whether you are buying or selling the property, know the current situation of the real estate market and consider the decision.
- Hence different aspects cause property to meet both high and low ends.
- Most characteristics determined include the location of the property, condition of the property, and top of that economy of the country and world.
- Property prices may not remain the same, it often fluctuates and on a yearly based survey. We can conclude that property rates go high this year or low.
- Besides if the economy drops down and unemployment rises. Then, the real estate market demise and inflation arise, in result property rates go higher.
- It is equally symmetrical to the economy and unemployment vice versa.
Dubai PROPERTY
Property market in Dubai is growing fast with local investors as well as foreign investors. Investors of different countries are interested in investing huge amounts in Dubai property and get the profitable payback.
If you want to buy a property without being a resident of Dubai. The Dubai government makes it easy for you to invest in a freehold area. Free hold area is especially designed for outside investors.
Freehold area is the area where investors not residing in Dubai can own a property with full ownership and rights with secure and safe paperwork.
So if you are a local investor or sell your property in Dubai you can totally do it with the freedom to live. you are good to go and make a wise decision in the supervision of good real estate in Dubai.
Next level real estate is working in Dubai with the highest amount of dedication and experience real estate agents to serve their best service for your property related issues.
BASIC ASPECTS RISE IN PROPERTY MARKET IN DUBAI
Factors include rise in Dubai property market which cause low purchasing ability can discuss the market condition. The Dubai real estate market is gigantic and hence is a globally discussed issue of why prices go up day by day.
If you are considering the real estate market of a country with a healthy economy, you will find that property prices in all sectors will be high. This is due to the reason that in a strong economy people are making more money and they are stable financially. They can afford to buy properties. This directly affects property demand and raises property prices.
Unemployment
Unemployment leads to a low economic situation. One who deals with unemployment couldn’t think of investing or buying a home for the future.
They express no interest in buying a property. Contrary if people are employed the more they invest in the market the more people are interested to buy and demand for property is high. This consequence of increasing demand for property will lead to property rates high.
SUPPLY AND DEMAND
Like other business industries, supply and demand play an important role in price determination. If more buyers show their interest in property purchase, the prices will rise. Factors that are responsible for producing assets are population, availability of land and availability of construction labor.
OFF-PLAN PROPERTY
- With rising in price property in real estate in Dubai and investors back off to incest with high amount.
- People are more interested in investing in off-plan property.
- These Off-plan projects are those which are not construct or under in construction.
- Off-plan property might be an apartment, penthouse, villa or a house. Off-plan plan projects may give you the benefit of an installment payment plan.
- Installations vary from project to project.
- Different payment plan with facility of a down payment plan.
- Dubai has been doing tremendous work during this rise in price in real estate.
- With lent ease to their clients to buy a property under their budget and plan.
- Next level real estate works in Dubai for off-plan projects investors, and lend the best payment plan to their customer to serve them the best deal in real estate in Dubai and the next level offered a good off-plan project with a handsome payment plan to secure your future and satisfy their customer.
LOCATION
Location makes much difference in the property sell and buy scenario.
Price May Go Higher if the location of your chosen property is far more luxury and comfortable with security and a healthy environment.
If the property you own is in an area where easy access to life is essential and necessary then your property is worth it.
If asset location allows easy access to amenities like shopping centers, healthcare facilities, and entertainment places then the price is shifts towards the high end. Areas with high crime rates and unexciting neighborhoods don’t attract buyers and investors to do estate business. A bad location adversely affects property prices to fall down.