4 Reasons Why Tenants Should Consider Buying a Property in Dubai

Residents in Dubai often debate whether it is better to rent or to buy a property in Dubai. The fact is that investment in real estate is one of the safest investments out there. By buying a property in Dubai, you don't only resolve your living situation; you invest in your future. It was never a better time to invest in real estate. Here's why:

1. Rents are going up again

In most areas of Dubai, the rents went up in 2021. In the following years, it is expected for this trend to continue, especially in those areas that are in high demand. If you are a tenant, it can be frustrating to face payments which continue to climb each year. In the end, you are left with three options; accept the increase, move to an area with cheaper rents and compromise on your living standard or buy a property of your own.

2. The luxury of being able to customise your home fully

While renting a property in Dubai, you might face certain limitations. You need the landlord's permission to paint, renovate and make any type of home upgrades. In most cases, you have to settle for the condition the apartment is in at the time of possession. As a property owner, you can make adjustments as you please and turn your Dubai property into your dream home.

3. Real estate is one of the safest investments

If you are worried about property devaluations, don't be. Even if the value of your property goes down in time, you will still profit. Take into calculation the money that you are spending on your rent or property repairs for a home that isn't even yours. When you add other costs, such as deposit, regular moving costs etc., you will realise that buying a property in Dubai is not that bad of an idea…if you can afford it, of course. 

4. It gives you better flexibility

One of the reasons residents avoid buying a property in Dubai is the fear of having to move if they change jobs or leave the country. However, keep in mind that you have to give your landlord prior notice before vacating the property anyway. Otherwise, you might lose your deposit. If you are the property owner, you can always choose to rent out your property or sell it. In such case, you can rely on us to help you sell your property swiftly.

Bottom line is, you can only benefit from buying a property in Dubai. If you would like to know more about the benefits of homeownership, feel free to get in touch with us on +971 4 518 7555. Our property consultants will be happy to assist you.