Investing in Dubai’s thriving real estate market is often on top of the list for investors and potential investors alike. With guaranteed profitable gains and value for investment, there is a plethora of options and investment plans to go by with endless blogs, investment guides, advisors and much more. But even with all these exhaustive resources, one can get stuck in the initial decision phase. Before one makes such a big leap, it is important to keep in mind the following these 5 steps which guides you for a Successful investment in Dubai Real Estate Market.
1. What is your financial standing? What is your investment goal?
It is important to have substantial financing that allows you to comfortably put a down payment on your chosen property and take care of necessary costs without cutting back in other areas of your finances. Your financial standing also determines and helps narrow down property options whether a studio apartment or luxury villa. Knowing the type of property, you can afford also offers future insight into the kind of income you can expect from your rental property.
2. Study the market. Pick your location.
The importance of location cannot be stressed enough. Price and estimated ROI rely on the property’s position being prime and attractive.
Scenic views, proximity to transport networks, services and schools, and future plans for the region are all factors that determine how a specific location is deemed to be of prime importance. One can choose a prime location over size and vice versa, depending on the budget. For example, Dubai is known as a growing international real estate investment destination, with new properties such as AKOYA Relax meeting the architectural and amenities requirements of international investors and first-time home buyers.
Search for one that comes with a plot title deed if you’re considering buying a villa in Dubai, allowing full ownership and flexibility on the plot as well as the structure built on it.
Also Read: Benefits to Invest in Beachfront Properties
3. Do you want to be an active or passive investor?
Defensive (i.e. passive) investor–centred on preventing mistakes and reducing risk, money, and repeated investment decisions.
Enterprising (i.e. active) investor–this is someone who can spend time and effort in return for safer and above average investments specialy in Off plan investment property. In both cases, the goal is to stay an investor and increase your investments. This prioritization distinguishes between these approaches and a career. But each approach to investment is very different.
Also Read: Top 5 Properties to Invest in Dubai
4. Target Market
Identify the target market, analyse and understand relevant group’s preferences, needs and the kind of property most suited for such group. Plan accordingly- if they belong to a certain income group, offer relevant property and additional benefits. Set out rental properties terms accordingly and take up help from a reputed property management company, services that are readily provided by Texture Properties.
5. Find a reputed real estate company to help you with your search.
Finding a reputed company or developer is crucial to your search and investment in real estate market in Dubai. With Texture, you are guaranteed to find the perfect property in Dubai according to your needs whether personal or investment related. An additional benefit of taking up our services is that you no longer have to search for a third property management company– we provide extensive services in both regards, including general maintenance, leasing services, Ejari Registration, legal representation, moving in/out assistance and much more. This is extremely beneficial especially for new buyers since they do not have a full understanding of property management and will find it intimidating to handle it all alone. Even seasoned investors take on the support of such investment management companies since it simply eases the entire process.
All in all, first time buyers will find Dubai very accommodating for their investor aims, needs and business. With a multitude of options available and excellent supporting companies, an investor, especially a fresh investor has almost everything they’ll need within reach provided they conduct good research, understand market dynamics, have substantial financing relevant to target property in Dubai and clear plans to help guide their investment in Dubai real estate market.