If you are an expat living or deciding to move to Dubai, you might come across the question: Should I rent a house or buy? The current market is favoring buyers: property prices are low, and the supply is high. But there are some aspects you must consider before deciding about renting or buying:
How long do you plan to stay in the UAE?
If you are staying for at least 5 more years you may consider buying a property. You’ll need time to get an overlook over the market, areas and prices. If you are not sure how long you will stay or you work under a 3-years-contract for example renting might be the better option for you. It allows you more flexibility in terms of moving.
Money, money, money – or how are you really doing financially?
Expats need to pay 25% down payment. For example, if the villa you wish to buy costs 1 Mill. AED you need to pay 250,000 AED before you do the next step. If you know that you will be able to make the down payment and can pay off the mortgage, then you are in a good position to invest in property in the UAE. And think about this: If you are going to be making monthly payments for rent anyway, why not pay towards owning your home? At the end, you will be a property owner in the UAE and that will give you the freedom and privacy you need and want.
Check the market before you make a decision
The real estate market in the UAE is currently in favour of buyers, with strong ROI reported across the emirates. And since prices have fallen, the property market in the UAE is ripe for investments. We know the market better than anyone else and give you detailed look into the market. Let’s make an appointment and talk about your plans, wishes and opportunities.back