Is now the best time to buy in Dubai?
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The drop may last until the end of 2020, according to some real estate experts. However, the UAE government has made an attempt to get the situation under control and is introducing some new initiatives for foreign property buyers to make home ownership in Dubai more attractive. For example, a 3-year visa initiative or those who invest AED 1 million ($272,000) or more in a residential property, 5-year visa for those who spend AED 5 millions and a 10-year visa for those who invest AED 10 millions. If you’re planning on purchasing purely from an investment point of you, then there more be some benefits to it, given how letting or renting a property is in demand in Dubai, due to the types of residents the city gets, however, don’t expect any returns overnight. As with all investments of this nature, there are great risks, along with the rewards. Finally, to answer the question of whether it’s worth buying in Dubai right now, it all comes down to the motive behind the purchase. Dubai has a lot of stunning properties at reasonable prices right now, but it’s hard to determine the strength of the market over the next year or so, so you’d need to do some significant market research in order to conclude of whether it’s the right choice or not.