Owning your own home is a wonderful thought, but does it make sense to own one now? Like many international markets, the UAE property market fluctuates, but it appears the market right now is booming. Here are five reasons why buying your new home in the UAE makes financial sense right now.
- Attractive payment plans for ’Off-Plan’ properties
With plenty of off-plan properties around the UAE and in Abu Dhabi alone, owning your – newer than new – home in the capital couldn’t be easier. This array of attractive developments around the city does come at a price, but the payment plans on offer could be more attractive for you.
With certain developments offering from 30-70% payment after property completion, there could be a deal for you and your new home. These payment plans make it more affordable and easier than ever to buy. They allow more time to save your money or to get a loan to cover the smaller amount needed for post-payment after completion. As a result, you can find the right plan to help you invest in your new home today.
- Sale prices have dropped
As sales prices have dropped down by 8% compared to 2015, the residential market is now near the bottom of the current cycle. This means that there are a lot of great deals now available in the property market.
Even though prices have dropped, making it attractive to buy now, you better be quick securing your property as the availability of affordable housing options in the market attracts both investors and end users, so the competition is something to be wary of.
- Competitive prices in off-plan projects
With developments popping up everywhere there is a lot of competition amongst developers, and they are really pushing their individual appealing deals to win sales.
With value-for-money properties available on these developments, also comes the attractive installment plans. These helpful installment-based payment plans allow payment conclusion over four to five years post-handover, making it more affordable than ever to own your home and swap rental with installments.
- Community choice
While Abu Dhabi continues to develop and grow, so does the choice of where to live in the city.
Developers around the city are ensuring they are creating developments buyers want. Whether you’re looking at getting a beachfront property, a property close to the city or even one near Abu Dhabi’s newest or best attractions, there is something for everyone.
For the beach lovers on Saadiyat there is Mamsha, Saadiyat Lagoons and Hidd Al Saadiyat to live your luxury lifestyle dreams. Other major developments like West Yas, Ansam and Mayan offer you a way of living near Abu Dhabi’s most thrilling attractions, whilst offering you the privileged resort lifestyle in a unique environment. Alternatively, offering room for a cultural and educational environment, Soho Square and Park View are there to welcome students and families to indulge a campus, yet a cultural lifestyle.
With the endless choice of these sought-after properties, there is no doubt that now is a time to buy and be a part of the ever-changing Abu Dhabi.
5. Attractive R.O.I
The return on investment is basically calculated as the annual rental income minus the annual service charges, divided by the property purchase price plus all the related fees.
In the market, we come across what we call ‘Good’ or ‘Hot’ deals, which basically mean that the ROI is relatively high and so are the rental yields.
In addition, the market is becoming a buying empire. Many people struggle to sell their properties and are ready to list them on the market at reduced prices with a rental income relatively less.
Home buyers are always in a winning position. The UAE is an investor-friendly environment, safe and secure.
In conclusion, owning a property is a solid, long-term investment. Whether the markets go up or down, the asset is always there.
The city of Abu Dhabi offers a vibrant atmosphere, is safe to live in, and provides a wealth of opportunity. As the city continues to grow, it really is a city you’ll want to settle in and be a part of.
Call Nationwide for your free consultancy. Whether you’re an end-user or an investor, we are here for you as your property is our priority.
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