Now is the time to buy property in Dubai. Residents, investors and tenants have used the opportunity of falling prices to improve the quality of their lifestyle by upgrading the standard of property they own or live in. This has been dubbed the ‘flight to quality’ as demand for property in Dubai’s more exclusive areas has grown significantly while lower quality districts still suffer.
As a result Dubai is no longer a speculation driven market where you can buy property anywhere and expect the same double digit returns. Instead, Dubai is more comparable to mature real estate markets like those found in London or New York where specific districts perform better than others.
Dubai Marina, Downtown Dubai, The Palm and Jumeriah Lake Towers have all emerged as some of the Emirate’s most popular districts attracting the most demand, and therefore, the highest returns. These districts have already seen significant price increases this year both in total value and rental rates. Those buying property in Dubai Marina today can expect considerable capital appreciation and consistent rental returns of up to 12% paid up front.
