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Realty experts say it’s now a very good time to purchase property. Kalpesh Sampat, Director at SPF Realty, says Dubai is still inexpensive on a per-square-foot basis compared to other major cities. He expects property prices in Dubai to appreciate over the mid term, while prices could appreciate exponentially over the long term, making this a good period to invest.
“This place has world-class infrastructure and facilities, along with record timelines for infrastructure development, and no other city in the world can come remotely close,” says Sampat. “Add to this other major benefits like being a cosmopolitan city that is multicultural and very diverse, safety and security, tax-free policy on personal income, profit, capital gains or real estate price appreciation, and all these elements make this city attractive for people to visit, work and live.”
Dubai’s freehold real estate market has been on a rollercoaster journey since it was opened to the world in 2002, but it has gradually matured, says Ashraf Khan, Sales Manager at Exclusive Links Real Estate.
“All indications dictate another stabilisation period. I believe there is no market in the world
where you can achieve the level of rental yield available here and the potential for capital appreciation as the city continues to grow and strengthen.”
He says one can expect rental yields from 6-8 per cent in popular locations such as Dubai Marina, Jumeirah Lakes Towers and Downtown Dubai, whereas more affordable areas such as Dubai Sports City and Jumeirah Village can deliver up to 10 per cent.
Source: Hina Navin, Special to PW