Looking to buy Dubai freehold property this year?

Here is our guide to top things to remember before purchasing freehold property in order to understand its future resale value.

Demographics, i.e., the data that describes the composition of a population, is a significant factor that affects the pricing of Dubai freehold property, the types of properties that are in demand, and real estate trends in general.

Moreover, several new projects are expected to complete before the end of this year. This factor is expected to motivate buyers to negotiate over prices and will in turn affect Dubai freehold property values. The Dubai real estate market is thriving, with the market registering billions of dirhams worth of deals this year. So, as an investor, what should you keep in mind before investing?

Here’s a cheat sheet to help you decode the market value of your Dubai freehold property.

  1. Do not be carried away with the Olympic-sized pool or the gold chandelier in the grand lobby as  they do not decide the market value of your building or neighborhood.
  2. Do your research and browse brokerage websites to get an accurate average price of the Dubai freehold property you are looking for.
  3. Remember that the main factors that go into determining the market value and establish supply and demand of a Dubai freehold property include location, cost of construction (prices of cement, steel, etc.), accessibility to the metro and other public transport and customer perception of a community/area. According to latest industry trends, property prices in Dubai Marina have increased by 28 per cent since 2010, due to its connectivity to the Dubai Metro and Dubai Tram. Also, the Roads and Transport Authority (RTA) has claimed that the value of freehold property situated within 1.5 kilometers of metro stations has risen to 41 percent from 13 percent.
  4. Also, research has shown that areas with 1-2 bedroom properties are more popular than areas with 3-4 bedrooms.

So, before you buy Dubai freehold property, ask:

Why are you buying? Are you looking to live in it or are you buying freehold property in Dubai as an investment for resale or lease? This will have an impact upon the type and location of the property you should buy. And most importantly, what are your financing options?

As one of the UAE’s most established brokerages, we make the process of buying Dubai freehold property, smooth and hassle-free. Contact us today to connect with the best Dubai real estate professionals to help you with one of the biggest financial decisions of your life.

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