What is better: to rent an apartment or a villa in Dubai or to purchase a real estate in the city? Is it more pleasant to have a luxurious holiday in a rented or bought apartment or a villa in Dubai?
At the end of 2021, consulting companies and real estate market experts ranked cities around the world according to such a criterion as rising prices for luxury real estate. Following the ranking, Dubai took 3rd place in this indicator. Experts are confident that soon Dubai will become the safest option for investment. Check out apartments’ prices in Palm Jumeirah, Business Bay, or any other district on the Ax Capital website and you will be surprised. You can either buy an apartment or a villa in Dubai or rent one for your holiday. What is better: to have a safe option, which you can use year after year, or to be able to explore the emirate and change your location?
Renting real estate in Dubai
Real estate market experts in Dubai believe that renting is a good way to temporarily stay in the emirate. However, long-term rent, according to experts, is not financially justified, because a lot of money is spent and without return. Even with the effects of inflation and deflation, which are always subject to the real estate market, you own a real asset – real estate, which has a certain value and brings a stable income.
Experts note that over the past two years, the Dubai real estate market has replenished with elite holiday homes, rented for a short period, which competed with city hotels. In addition, such residential properties are in high demand among those, who prefer more spacious premises and a homely atmosphere compared to hotel rooms.
Purchasing property in Dubai
Having personal square meters will give you the following benefits:
- Your own rules: In your own house, you can make your own rules and live according to your lifestyle, while living in a rented apartment, even with the most loyal tenant, imposes rules and restrictions on privacy. You will not be able to have animals, often invite relatives and friends to visit, etc.
- Legal property: When you buy a house, it becomes your legal property. You can change its interior and exterior as you wish. As the owner, you have complete freedom of action, while the tenant cannot afford any major changes in furnishings and decor without prior approval from the landlord.
Despite all the above advantages, there are also disadvantages to acquiring Dubai apartments:
- High price: Dubai has been and remains a thriving resort and the world’s largest metropolis. Even despite the decline in prices on the local real estate market, you will have to pay from AED 1,000,000 for housing there.
- Lack of mobility: Having housing in the UAE, you will periodically have to visit the country. And if the house was bought with a mortgage, then you will need to live and work in Dubai until all the debt to the bank is repaid.
Real estate in Dubai
The choice between buying and renting a property in Dubai directly depends on how long you intend to contact the country. If you want to spend a one-time holiday there, then it is better to rent. But if you want to have a safe haven, where you can come back to once in a while, then purchasing is your option. To make the right decision go over to the Ax Capital website, where specialists can assist you in making the right choice.