Dubai Real Estate market, one of the fastest growing property markets in the World is beckoning the investors who want a quick return of investment. It attracts especially the youngsters who want to secure their future by investing in Dubai. But like any other investment; investment in Dubai also has some possible risks. But in this case, a well planned approach may ensure the safety of your investment.
The following are some effective tips for safe and risk-free investment in Dubai.
Selecting the right Location
The first and the foremost thing is the selection of the right location. By selecting an appropriate location you can ensure your quick rental returns. So, before taking the final decision make a survey of the real rental demand in your chosen area. It will help you to avoid potential loss. While investing in property you should never allow your emotions about number and figures. Always try to have the better one.
Deal with the experienced and Licensed Agent
As you are new to the place you will consult to the real estate brokers or the property consultants. A good broker or consultant will provide you with valuable information and help you explore all your options before buying in the Dubai property market. But always try to find the registered agents and qualified property consultants permitted by Dubai Land Department. One statistic has shown that some 4210 unlicensed agents are operating within Dubai.
The developer you are going to work with should have a good reputation as well as solid financial support. If your developer falls to financial difficulties in the midway of the project you may suffer a big loss. Ask your developer for the comments of the previous customers and also judge previous completed construction by the developer.
Treat it as business deals
You should be highly careful about your business deals.All details of your investment including- Banking, Maintenance, Deeds and Records from Land Department, bills and receipts should be managed and recorded accurately and without fail. By being careful you will be able to avoid pssible hazards as well as the finanacial losses.
Before investing, please check records and find out whether the development has Escrow Account with an official banker within Dubai. Investments in Dubai estate Market are more or less secure. Developmental activities in Dubai are controlled by master developers like Emaar, Dubai Holding and Nakheel, which in turn are backed by government. It is a primary safeguard backer against malpractices for which the Government of Dubai issued the Escrow Account in late 2007.
Justify the market
Before you invest know about the interest rates (fixed or flexible), as they including penalty clauses and service charges vary from firm to firm. So check these thoroughly.
Thus, you see the investment in Dubai Real Estate market is very profitable if you can handle everything rightfully. The effectiveness of your decision will depend on how much experience you have in the market, no matter where you buy and how much information about the market you have beforehand with research.