Dubai Real Estate The delimma - should you rent or should you buy?

Dubai Real Estate The delimma - should you  rent or should you buy?

Access your current financial standing to see if renting or buying is the move you must make.
Whether one rents or buys property in dubai, the debate continues as to which one is more favorable. From a pure investment or financial perspective and looking at the long-term gains,given the rate at which rents are rising, the answer may well"to buy".

Mortgage are now easier to come since the downturn and the rates have steadily reduced down to an attractive3.99 percent(provided the property has a title deed). Banks will now lend on any finished property with some even offering mortgages again for off-plan projects.

Prices have reached the bottom and, in pretty much all established areas, have now seen rises. The time to buy is definitely now as there will be a sustained period of positive property price growth.

Not everyone has funds for a 25 percent deposit or a job that pays a substantial basic salary. Circumstances may dictate that renting is the better option for many,especially for those on a shorter contract of less than 3 years. Even so, "trying out" different areas or properties can be a good thing, as this will give you the opportunity of seeing whether the development/area suits you, both in terms of social and recreational factors, or proximity to work.

Over the past year, residents that had previously rented decided to take the plunge and pay their own mortgage rather than pay their landlords rent. This has led to house price inflation in sale prices. But rental prices have also increased due to the large number of expats arriving, swelling the Dubai population to 2 million. Ultimately, whether you decide to rent or buy, it is clear that you will be investing in a world-class city that we all now call"home".


Dubai Real Estate