Prices have bottomed out, according to Fidu Properties
The best time to invest in the Dubai property sector is now, according to Fidu Properties, a Chinese real estate broker in the UAE property market.
The brokerage said in a statement that Dubai is a buyer’s market considering the current price levels and the lucrative options on offer to investors and end-users alike.
It observed that prices have bottomed out and are at par or have become more affordable than even in 2005, when the freehold market started in Dubai.
Developers are offering heavy incentives to attract property buyers with convenient long-term payment plans of 5 to 10 and even 15 years for a ready property; on the other hand, they can expect a yield between 7 to 9 percent in the mid-market segment and despite correction, rentals are still high, according to FIDU.
But landlords are also being more flexible when it comes to the price points, rental-free periods or defining the payment terms, the company said.
Fidu also expects improvement in the sector with the Real Estate Regulatory Agency (RERA) coming up with supporting regulations.
