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Covid-19 Effect | Best Time to Buy Property in Dubai

Posted by rachit on 17/09/2021

The global real estate market has taken a hit due to COVID-19 and real estate in Dubai is no different. March 2020 was the time when the real impact of COVID-19 began to be felt in the UAE. When Dubai went into lockdown to control the deadly virus, the Real Estate in Dubai came to a standstill.

This did not last long due to the quick and effective measures taken by the government and the Dubai Land Department. He introduced online approvals for buying and selling properties. There were guidelines that made the transaction safe and secure for both buyer and seller. Real estate portals and companies started using technology to address the issues. He showcased the properties with the help of 360 virtual tour and the sales meeting turned into a virtual meeting.
The slowdown in the real estate sector did not last long and transactions picked up from June 2020. According to information shared by the Dubai Land Department, the sales volume in 2020 was AED 2.46 billion. It recovered at a decent pace to reach AED 5+ billion in 2021, showing no signs of slowing down. Real estate in Dubai has always been and will be one of the fundamentals of the country’s economy.

Best time to buy and invest in Dubai property:

Buyers always have only one question in their mind! Is this the right time to buy and Investment Properties in Dubai market or should one wait??

At this stage the extent of the global economic fallout from the current crisis cannot be confirmed or predicted. But looking at the current situation, it can be said that today property prices in Dubai have almost reached a low level. In the current situation the promotions and additional payment facilities offered by the developers attract buyers as these will not last long and will return to normal terms and conditions as soon as the global economic situation starts showing signs of improvement.

The timing of 2021 will present a lot of opportunities for buyers with the option of long-term payment plans and investors looking for higher rental yields will benefit from the current pricing in the market. The property market is showing positive momentum from 2021 onwards as the Dubai Expo 2020 to be held in October 2021.

If you are interested in securing your future by investing and getting a steady income giving high returns year after year then today is the time to Invest Property in Dubai.

Feel free to contact us for a free real estate consultation.

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