Market expectations paint a rosy picture of emirate’s property sector
Now is the time to invest in Dubai, says Emma Hogan, sales director at Oryx World Real Estate, one of the emirate’s leading and most respected property brokerages.
According to Emma Hogan, the city’s real estate market will pick up by the end of the year and rise steadily until the eagerly anticipated Expo 2020, meaning that purchases made in Q2 to Q4 2016 are set to generate the biggest capital appreciation in the years ahead.
She says, “Continued job creation ahead of Expo 2020 makes Dubai an excellent place in which to invest.
“But buyers will have to be quick. Reports indicate that prices will rise significantly at the end of 2016 and continue upwards for at least two to three years. Anyone considering investing should do so now to ensure the best possible return on investment,” she urges.
Dubai’s property market has seen its share of ups and downs. In summer 2008, for example, it peaked at an as-then all-time high, only to crash as the Global Financial Crisis kicked in.
In 2013, the emirate won the right to host Expo 2020, triggering yet another boom that saw prices exceed even those of the 2008 glory year.
But this time, the boom was followed not by a crash but by a softening due to low oil prices and the appreciation of the US dollar causing a decrease in real estate demand. This period is expected to end in Q4 2016, leaving Dubai home to one of the world’s most exciting real estate markets – on par with London, New York and many other international property hotspots.
“While every market experiences peaks and troughs,” says Emma, “the chance of Dubai ever experiencing the level of depreciation seen in 2008 to 2010 is unlikely.
“Lessons have been learnt and the market has blossomed into one of the most attractive in the world. There has never been a better time to invest in Dubai. The future really couldn’t be brighter,” she says.
It’s this renewed market confidence that’s drawing investors back to the city and Oryx World Real Estate is poised to assist. Anyone looking for investment opportunities, from an individual apartment to an entire floor, should call our Oryx World team today on +971 (0) 4 446 2000.