best time to buy Dubai property

International investors are increasingly drawn to cities they perceive to be sheltered from wider economic issues, according to Knight Frank, and Dubai has, indeed, gained to become of the best real estate investment market.
But, all has not gone well for everyone. There have been cases where investors have lost their hard earned money as projects got cancelled or developers went absconding post the global economic crisis in 2008. “Hence, investors should be ‘smart’ and need to consider some factors before investing in a property here,” says Jaiswal.

5 facts to consider:

Research is important

It’s important to do your research before investing in any real estate market. Internet is one good medium to get the market information and a possible visit to the location is helpful.

History of the developer

No developer is perfect. An investor must know what his objectives are and see if the developer fits his/her objective. If the answer is no, then don’t invest.

Property prices
You can still pick up affordable properties, even a villa for Dh3 million, which is half-a-million pounds. What can you get for a half-a-million pound in London? Dubai prices are cheaper and investors should take a medium to long term view as investors.

Try to negotiate

It never hurts to ask. When it is a sellers’ market, it is very hard to negotiate. So what you can do in these markets? One should harness their research skills and can find a good deal. But when the market is slightly slow, there is scope to negotiate. Asking is very important.

Do take action
You can sit on things forever and never make a decision. One cannot get the risk to zero. If one waits until the risk is zero, he/she will be dead. So there is going to be risk, one has to understand their risk appetite and then invest.