Is it a good time to buy property in UAE?
As the population of foreign workers and expats continues to grow in the UAE in addition to the influx of foreign companies setting up their offices in the country, the demand for residential and commercial real estate property to buy or rent is on an equal rise. This factor makes buying or investing in property in the UAE a great idea.
Compared to major world cities like New York, London, and Paris, where real estate prices have sky-rocketed, the prices of real estate properties are still lower in the UAE. Due to this, there is an increased ratio of ROI attributed to the lower cost of living and expenses. The cost of living in London for example is 26 % more expensive than the cost of living in UAE. Furthermore, there is a big +295.82 % difference in ratio for property prices for both countries.
As a comparison between real estate prices, an apartment in the city centre of Dubai costs an average of AED 13,786.43 per square metre, compared to a whopping AED 54,569.66 price per square metre for an apartment in the city centre of London. Both cities offer the best amenities plus a high quality of living. The difference in real estate prices and ROI ratio makes Dubai an enticing choice over other big and highly developed cities with higher real estate prices offering the same ROI ratio.