More than 200 nationalities are investing in Dubai's real estate market, which has been hailed as one of the world's hottest spots for real estate for years now.
If you are thinking of investing on a property in the Emirates, here are several reasons to help you make that decision:
Resilient and Stable Market
The stability and resilience of Dubai's property market is reason enough to consider putting in your money here. In a report by The National, Managing Director at Select Property Dubai, Adam Price, stated, "The Dubai property market continues to mature and stabilize as a result of strategically implemented government regulations, including the increased property registration fees and mortgage caps, so 2016 will be the perfect time to invest." Price also adds, "Gross returns for both small and large apartments in Dubai are delivering between 5.87 percent and 7.21 percent yield which is higher than Hong Kong, Singapore and London."
Furthermore, Better Homes stated in its report, "Property sale values dropped between 5-10 percent in the first half of 2015 compared to the same period in 2014. However in 2016, apartment and villa prices in Dubai are expected to rise and stabilize later in the year."
Diversifying Economy
Dubai's economy continues to diversify and is not dependent on oil revenue. The 2015 public budget revealed that decline in oil price incurred marginal effect on Dubai's economy. There are many other economic areas that contribute to the growth and expansion of Dubai's market, according to a report by Company Formation Dubai.
World Expo 2020
Dubai will be the host city of the World Exposition in 2020. This will open an even wider gate to the world, welcoming millions of international visitors over its six month period.
In addition to that, Better Homes noted, "The government's plan to upgrade Dubai in time for the mega Expo 2020 through spending on infrastructure and encouraging foreign investments in different sectors is anticipated to provide solid support for the real estate market over the next five years."