Dubai's overheated rental
market is headed for a cooling off period. But the question everyone is asking is: When?
Analysts have long noted there is much more demand than supply for property in Dubai. But, they point out, this will not always be the case. As more homes come to the
market over the next two years, supply and demand will even out
What happens then? Rents will become more
reasonable and there will be a shift in the way people choose
homes and offices. A current trend spotted by many is that many
buyers are purchase offices and homes on a buy-to-let basis, not to use
themselves.
'Freehold' in Dubai and the new opportunities and challenges that
this presents means buying is now a very reasonable option. In additio to this, there has been an influx of educated, white-collar workers, which means
that more residents are able to buy their own
property in Dubai.
As
worker salaries increase, they will expect more from property
developers. And as the number of properties in Dubai continues to grow, analysts predict
it will become more of a buyer's market.
"Eventually people will look at the Gulf in the same way that they
look at the US or Europe," said Mike Stee, Managing Director of St George Property Investment Consultants. "The Gulf is a region in its own right.
Dubai is so full of opportunities and possibilities and we have to
make that happen."
Contact us today to find out more.
