The Blessing in Disguise: Real Estate in Dubai During Covid-19
Published on 2020
Reading Time : 5 Mins
As the fear of coronavirus is looming the world, it has trapped the countries in a quagmire of unpredictable situations and an uncertain future. While the economies of some countries are lurching from one economic crisis to the other, few nations are trying to stabilize the unstable circumstances. Luckily, UAE is among one of them. Driving opportunities from misfortunes is one of the arts in which the emirate shows its expertise most of the time. Therefore, there are numerous benefits of buying the properties in Dubai before expo 2020 while considering the pandemic of coronavirus in place.
How Will Expo 2020 Boost the Real Estate?
Theoretical evidence suggests that major events are likely to increase investment in countries. But the crisis of coronavirus has swung the pendulum towards the other direction. The prices for buying properties are falling by 11 percent, thus the cost of purchasing apartments for sale in Dubai is also declining, according to a recent report. Therefore, it may cost a fortune for the developers but not for the buyers; they are surely going to benefit from these circumstances. The UAE will soon likely to recover from the crisis, given its potential and strategies to curb the malice which has afflicted the globe. Once it’s over, prices will be recovered, multiplying benefits for the investors.
Opportunities for Buyers
If you are planning to invest in Dubai, you will clearly be focused on getting the maximum advantage. So, what kind of return you would be expecting? The answer may surprise you. Dubai offers a splendid rental yield. Invest in London or Paris and you will get a rental yield of 4% and 3% respectively on your annual investment but Dubai can give you 6-7% on average. As the emirate is overflooded with new projects, developers are offering incentives to the buyers. Examples include:
- Free legal fees
- Lower service charges
- Guaranteed rental income
- Deferred payment terms
New Communities with Low Prices
As the emirate is expanding in all directions, so are the options available for the investors. From beach-themed locations to buildings located near to the anticipated Expo 2020, Dubai landscapes are loaded with multifaceted choices. There are a number of new communities opening in Dubai which are not only pocket-friendly dwellings but also enrich with the latest techniques and innovative designs. Some of these areas are as under:
- Dubai Creek Harbour
- Nshama’s Town Square
- Dubai South
Places Around Expo 2020
Expo 2020 is bringing something for everyone. Abundant with new developments that are running around the place where Expo 2020 will be held, analysts are wondering what benefits the real estate will provide to the buyers. For example
- Dubai Greek Waterfront which promises to be a new spectacular sight to be worth waiting for is pointing with a tower higher than Burj Khalifa and containing breathtaking sea views.
- Expo Golf Villas which is ten minutes away from the Expo 2020, championship golf course and the upcoming global aviation hub is yet another excellent option for discerning investors.