As Dubai continues to cope up with the pandemic, the government launched many incentives to mitigate its damaging effects. This includes giving out discount prices, waiver of fees and penalties on overdue payments and late-posted cheques, and other financial packages to entice applicants into buying Dubai real estate.
It seems these countermeasures are effective. Not only the real estate purchasing power increased, but it also boosts the real estate industry. Let us explore how Dubai Real Estate remains strong and resilient amid pandemic.
Experts Reveal the Dubai Real Estate Remains Strong Amid Pandemic
According to Dubai real estate experts, the industry is well on its recovery track. They also expect Dubai to retain its position as the best destination for real estate investments, especially after the pandemic. They added that the pandemic crisis is nothing new to Dubai. The emirate is already immune to all types of crisis, especially since the recession last 2009.
Most Dubai real estate developers are adept at making adjustments to cater to their customers’ desires. Aside from that, developers compete by offering attractive prices, flexible payment terms, and rewards to gain customers. Despite the pandemic, the experts believe Dubai’s property industry is on the road to recovery. As more and more developers rush to meet their deadlines before Expo 2020, the bright future is already within their reach.
The Progressive Development
The pandemic may have delayed some construction projects, but the experts reveal 95% of Dubai real estate projects are still intact. In fact, most local and international developers focus their investment in Dubai.
They have 100% confidence in Dubai’s real estate sector to boom in the next five years. These commitments also help in boosting Dubai's reputation as a promising location for real estate. Furthermore, the recent price cuts and unprecedented facilities encourage Emirati locals and ex-pats to buy properties now.
They want to take advantage of the attractive low prices and various property options to choose from. The experts also state the pandemic contributed to the demand for properties. This is because the people are now looking for a secure house or property to isolate themselves and keep their families safe from the pandemic.
Expanding the Areas
Aside from the promising upward sales trend, the Dubai real estate developers also see an opportunity to expand their project portfolio. The developers now have more time exploring new areas around Dubai for real estate development. This is the perfect time for them to expand their projects by scouting new areas and purchasing lands on the outskirts of Dubai.
Want to take this opportunity to buy a Dubai real estate property now? Check out our Dubai real estate listings now! Don’t hesitate to contact us if you have more questions or inquiries. Don’t miss this golden opportunity to buy your dream home. Apply for real estate now to get the best attractive price for your preferred property. You’ll also reap the developer’s flexible payment terms and awards in the process.