How to Start Property Investment in Dubai
Dubai has now become known as a premier hub for business and trade around the world, and is now an emerging tourist destination. Investors, locals and foreign alike, are eyeing to make good investment in Dubai due to its wide and globally-competitive market. Real estate has always been one of the top industries in the emirate, with developers continuously building master communities and quality properties in significant locations. Aside from that, its constantly growing economy and increasing population makes it an ideal place for property investment. What more, there is no property tax in Dubai!
Although we see a lot of big companies pouring in investment in Dubai, it is not limited to industry giants. For young professionals, beginning with a personal property investment is a good start.
The beginning is always the most difficult, they say, but investment in Dubai for starters is possible. Listed below are some tips that you can consider before making property investment in Dubai.
Do research: Understand Dubai property market.
As in any other business, property investment in Dubai involves a risk. However, that risk can be minimized with the proper and accurate background knowledge on your desired investment before jumping in to it.
Devote time to study understand Dubai property market before to deciding to invest. Read business news to see current market trends and projected outlooks on the industry. Historical market trends can also be a good reference. Be informed of the different developers in Dubai that offer good opportunities for first-time investors by giving low rates and attractive payment plans.
Know your objective: Define your goals for investment in Dubai.
Are you investing for personal reasons or for additional income? Will you consider selling your personal property investment in the future? If you are a foreign national and you wish to invest solely for additional income, is there a need for you to relocate in Dubai? Think of endless possibilities. Define your goals for investment in Dubai.Weigh your options and create a definite plan. Set a deadline and keep track of your progress.
Consider your budget: Study Dubai property prices.
What will be your source of funds? Can your income sustain the dues throughout the whole payment period? You need to study Dubai property prices, choose your desired property, then compute your budget minus the maintenance costs, repairs and other charges. Also determine your desired property’s capitalization rate: the ratio of your net cash flow (annual income minus expenditures) as compared to your purchase price of the property. If it yields a good percentage, then you will have a significant return of investment (ROI).
Create contacts: Connect with the best Dubai property developers.
Whether you are a well-experienced real estate investor or a novice starting to explore the industry, it is important to have a wide range of professional contacts who can give you sound advice about investment in Dubai. Many would opt to contact middlemen or agents to connect them to developers. It is important to remember, however, that solely relying on intermediaries can be risky, as some are only concerned with their personal earnings rather than providing you with a really good quality offer.
If possible, connect directly with the best Dubai property developers. Not only does it the minimize risk of buying less quality properties, but it also keeps you from being charged with additional fees.
Find a good property portal: Get updated with Dubai property news.
The internet can be a good source of information, but it could also mean a long and tedious research from your search engine’s results before you find the best property that suits you.
But good news! You can do research about your planned property purchase, compare property prices that fits your budget, and talk directly to developers all in one property portal!
This is what the dxboffplan.com portal is all about. We want to help different investors to have free access to real estate information anytime and anywhere, at the comfort of their own homes or even on-the-go. We guarantee that you will get updated with Dubai property news and other comprehensive information on every real estate project to ensure quality investment in Dubai. We also bring you closer to renowned developers without any middlemen or agents in-between. With dxboffplan.com, you can contact them directly through the portal so they can give you full firsthand information about your desired property.
Let dxboffplan.com be your partner as you start exploring real estate investment in Dubai. We guarantee to provide you with every information you need to make sure that you get excellent value for your hard-earned money.
Start searching for your next property investment in Dubai by visiting our site now!