According to Mohanad Alwadiya, CEO of Harbor Real Estate. Advisor & Instructor at Dubai Land Department. Writer of the Wolf Of Real Estate column. Producer & Presenter of MEMAAR on Dubai TV, This is the best time to invest in Dubai Properties as the market has become attractive with opportunities available and advantages to be gained from buying property in Dubai now.
Mr. Alwadiya added, “Dubai real estate market has been cooling for around a year now but is expected to pick up again in 2016 as the next five years are expected to see strong economic growth in Dubai because of Dubai Expo 2020. Picking the exact timing is always crucial thing but it is always better to be early rather than standing in crowd and starting early will be a prime determinant of your success in upcoming years.”
Mr. Alwadiya, also known as the Godfather of real estate in Dubai, insist that investors should start search immediately as invest in Dubai properties right now will effect your life in either an extremely positive or negative way. So investors need to make timely decision not a hasty one.
How to Invest in Dubai Properties
In his article written for gulfnews Mr. Alwadiya also given some suggestion on how to invest in Dubai Properties. He said: “Be critical in determining what you can afford. If you have the cash, I suggest you pay for your new purchase outright. However, don’t be afraid to take out a MORTGAGE. Just be sure you fully understand what mortgage repayments are going to do to lifestyle and whether you are prepared to make some sacrifices to own your own property.”
He also said that make sure that you consider the many and varied easy payment plans that are currently on offer as many of these plans will save you considerable amounts of money.
Think carefully about location, surrounding infrastructure, construction quality and developer reputation and building amenities. Properties which are close to the beach, with a sea view, a golf course view or part of an iconic development such as Downtown usually provide good returns. If you have close access to the Metro, even better.
When buying an apartment, you also need to consider the efficacy of the owners’ association, costs associated with service charges and the quality of maintenance services as these will impact the long-term value of your investment.
Finally, be purposeful, persistent, patient and pragmatic in your approach and you are well on the way to making a sound decision.
Source: GulfNews XPRESS