Right Time to Buy Property in Dubai, Advises Dubizzle
This is the right time to buy property in Dubai, advises dubizzle property division head Richard Jolley. “It is my belief that the property market is heading towards the bottom of the downward curve and therefore the time to buy, for those who are able, is now,” Jolley said in a note on Thursday.
“The increase in new developments being launched, the Expo in 2020, recent changes in the law and fees associated purchasing property indicating a maturing market, along with the level to which certain property prices have fallen in recent months all make me rather bullish on the Dubai property market,” he explained. It has been well documented that the Dubai property market peaked in 2008 just before the onset of the global financial crisis. Subsequently, property prices declined and sales slowed considerably until the market eventually started to recover in 2011. The Real Estate Market Information Service REIDIN indicates that it is still on the downward swing of the market cycle. Whilst there are many people – investors and end users alike – keen to buy in Dubai, many are waiting for the right time. The right time, however, is not necessarily the same for everyone. Details