Dubai Homes for Sale and Rent Prices Continue to Decline, Will You Wait a Little Longer Before You Invest?


2017 brought about a huge drop in property and Dubai homes for sale and rent prices with a fall of up to 5 10%. Experts believe this drop will continue to decline until the World Expo 2020 arrives, where a gradual increase in prices is predicted. Real estate experts don’t know how much these prices will rise but they remain hopeful since the industry is not seeing its best in recent years.

The Steady Decline in Real Estate Properties

The decrease in prices of property in the global city of Dubai is making the real estate industry feel its worst. Experts believe this drop boils down to two major reasons:

· Oversupply

· VAT Impact

In 2017, developers went on a project spree with several thousands of units expected to be released to the market by 2020. This supply shows an average annual increase of 8% where it greatly swamps the average annual growth of Dubai’s population which is only 3%. This figures show a lesser market absorption rate that will ultimately lead to the vacancy of a number of residential houses for sale.

Another major reason why the real estate industry is currently subdued can be due to the implementation of the value added tax which started this year. There is a great uncertainty revolving around the impact of VAT on the real estate industry. And stakeholders are trying to predict what its immediate and long term impact is.

Although, VAT does not directly affect the sales and rents of new residential property, other sectors could be negatively affected because of the increased cost and cash flow challenges.
Why you should Invest in Dubai Property Now
The World Expo 2020 is only 2 years from now. And experts believe the slump that the real estate industry is experiencing now is set to turn its course for the better when this international event arrives. The recovery will be gradual during this time but market players are hopeful that the Expo will be a great drive for an increase in property prices.

The low cost that real estate for sale Dubai has now makes it the best time to invest in property. In two years’ time, you will see the fruits of your investment when the World Expo begins.

So visit Zawaya Property now and have the best assistance that you will need for your real estate endeavors. Zawaya Property is your real estate company with extensive experience in real estate and will offer best advice on property management. Check them out now.


Tags: Dubai homes for sale, real estate for sale Dubai, houses for sale

Comments

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