We know it for the tallest building in the world: Burj Khalifa, for the largest and most extravagant mall: Dubai Mall, for some of the most modern and grandiose constructions in the world: The Palm, Burj Al Arab, and the list is completed by opulence, luxury and building an empire in sand dunes. Dubai is the dream destination for those who want vacations like in the magazines, and safaris, but also a perfect tan on the sunny beaches: JBR or Kite Beach.
Well, it’s not just a city for relaxation, and investors have started to choose Dubai for its ever-growing real estate market.
The financial center of the Middle East managed to transform itself into a land of promise, after property prices fell sharply, below the level of 2008, when the financial crisis led to the collapse of the market and many projects were canceled or put on hold.
As the economy recovered, in the following years, the projects were resumed, and real estate once again returned to an upward trend.
Then came the pandemic and with it, a strong economic downturn led again to a downward trend in prices, which investors took full advantage of.
Leaving aside this aspect,an investment in Dubai real estate is undoubtedly profitable, sometimes coming with net returns of 5-6% for long-term rental of a home, respectively 7-8% for short-term rental. What you need to know is that rentals cannot be done without the contribution of a real estate agent, although there are certain cases where this is not respected (there are still certain people who can rent illegally, as in any country).
Althoughyou can easily be stolen by the mirage of money, Dubai also has its risks: we are talking about low-quality offers, projects with delays, but also hidden costs, considering the introduction of taxes in 2018, situations that can be easily avoided if you learn about the laws there.
Another thing to consider is the weather: if you want to make an investment for yourself, then make sure you can handle the heat, or you can get used to living your life in air-conditioned spaces out of the sunlight constant. Although a city raised from the sand has earned the name “new Switzerland”, andinvestors store their fortunes there… this is one reason why there is massive investment in real estate.
There are many investors from Romania as well, some even famous real estate agents who are successful on the market there, so Dubai, in addition to what it can offer us as a visual experience, the city can bring us a lot of opportunities… this in the case in which we are attracted to investments in the real estate market.
In conclusion, I invite you to answer me, in the comments… how many ads have you been “bombarded” lately on Facebook or Instagram regarding #InvestmentInDubai?
Choose your investments wisely!
