When investing in Dubai real estate, the diversity of choices remains an important attraction. “Whether you want to stay in a golf villa or next to a clubhouse, live by the beach, seafront, island living or canal living, or looking for horse riding nearby or need to live close to theme parks, the beauty of this city is that it has everything and anything that a buyer might desire,” says Emad Haq, vice chairman of Haqsons Group.
Dubai’s off-plan market is a key area, according to Haq, particularly for overseas investors. “2019 is the best year for off-plan sales in Dubai,” Haq declares, noting how H&S Real Estate Dubai, a subsidiary of Haqsons Group, is gaining traction from international real estate buyers.
“In the earlier years, developers were not offering any post-handover payment plans on apartment and villa sales, hence, the buyers had to pay 100 per cent at the time of handover. Now payment plans are given by most developers, making property investment in Dubai attractive for overseas buyers. For an international buyer, a developer’s payment plan makes property buying more lucrative as otherwise foreign investors are unable to obtain a bank loan.”
Dubai also offers solid rental yields, which is an important factor for investor-buyers. “Per-square-foot prices of property in Dubai is much lower than most of all developed markets,” says Haq. “For example, Downtown is the centre of Dubai, where the average cost for a property in Burj Khalifa is Dh1,500-Dh1,800 per square foot, whereas in central London it is not less than Dh3,500. Then for a seafront property anywhere in the world, you will get not less than Dh3,000, but in Dubai it is Dh1,300-Dh1,600 per square foot, which is again less than half.”
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