Real estate market in UAE
As a result of the Covid-19 pandemic, the real estate market in UAE dropped significantly by further aggravated the ongoing down trend in 2020.
It has been evident to many that the real estate market was not performing like he used to do back in 2014-2015. Factors such as consumer sentiment, oversupply of properties and a slowdown in government spending caused by oil price drop has fueled an uncertain situation.
However the decrease in assets value could be a big chance for investors who wants to enter now the market, in particular for those who have a long-term prospect as there are many factors that can influence the market such as: tourism, funds from banks, and employment.
With the recent outlook , it is widely recommended to purchase a property in this moment if a potential investor has enough liquidity to take advantage of the low valuation of property and low cost of real estate funds.
Banks and Real Estate
Moreover, many banks are evaluating the property prices as fairly valued compare to other cosmopolitan cities such as London and Paris.
In particular, Dubai is going to become one of the most important city in the future as several investment are going towards technology, manufacturing and alternative energy, which will greatly enhance the overall economy and boost the appeal for the real estate sector as a consequence.
It seems that there is more willingness from many countries to invest more in the property market in UAE. In fact the Dubai Land Department has registered many Indian investors purchasing properties followed by Chinese, Canada and UK.