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Are the Days Speculating in the dubai property market Really over?
It seems such along time ago that the first utterances regarding property in Dubai going downhill were heard. Yet here we are a number of years down the line, and the all the doom mongers prophecies are yet to come to fruition. So what's happened? And more importantly what is going to happen now? Well the real estate market prices here somehow continue to grow, all be it at a much slower rate, defying expert opinion. The Dubai market has made a lot of money for those who got in early and bought direct off-plan from developers, but where does that leave today's buyer? Is speculation here truly over now? Does off plan property still offer buyers a good deal, and what about those looking to make a quick profit here?
Back in the day, buying off-plan was the way forward with regards to making big returns on your investment. Property direct from developers for the most part is much better value than other options. So that’s it then, buy off plan and your problems are solved? Well sadly not, nothing is ever so simple. With the secondary market now offering a huge range of property, and a number of other projects under construction, new development launches are becoming less and less frequent. Whilst this doesn’t mean new launches are a thing of the past, it does mean you have to act that much quick when one is announced. But if you are able to buy into a good new development, you stand a good chance of securing a home for a good price.
The chances of any property now days, off-plan or secondary market, making you a large amount of money are pretty slim. This is not to say it won't be a good long term investment, but the buying and selling of property quickly, purely to make a quick buck is a much more challenge task in today's market. But then you have to ask your self does this really matter? With rents soaring ever higher, most people want to buy a home, rather than just to make a profit. Higher up peoples priorities are location and facilities rather than how much their home will be worth in a month or two. The market looks like it could be slowing in the coming months, which will no doubt lead to a great deal of uncertainty, with speculators perhaps best off waiting and watching for the time being.
