The Dubai real estate market shows no signs of slowing down anytime soon, with consistent growth and currently seeing an undersupply of ready properties in the market. With many questioning whether despite high prices this is the ideal time to buy.
For those refraining from making the step of becoming homeowners in 2023 due to the high prices seen across all areas in Dubai, Allsopp & Allsopp says, there is no better time than the present time! Launching a Rent Vs Buy calculator, which allows potential buyers and other market curious to calculate the actual price of rent versus buying. While the market might be ”hot” it is cooler to direct high rental prices towards an asset that belongs to you rather than to someone else. Allsopp & Allsopp platform allows you to insert your rent price, the period of time you wish to remain in that community amongst other data to support you in the decision making process.
"We anticipate that the Dubai real estate market will continue to see steady growth with for example a 3 bedroom house in Arabian Ranches rents for AED 21,911 the same house on a standard mortgage term costs AED 15,883. You are better off paying your own mortgage than your landlord’s ," said Lewis Allsopp, CEO of Allsopp & Allsopp group. " I believe there is no better time than the present time! Whichever is your objective when purchasing a property right now, if to rent to others (investments purposes) or to hedge yourself against the high costs of renting and finally take the step towards ownership the time to make a move is now”