Dubai is one of the world’s most promising property markets. With exceptional long-term results and returns in the city, the first-time purchasers of properties in the city have increased in the previous year. The main reason for this is because foreign investors settled in the city have a positive real estate environment. More and more UAE residents and non-residents are investigating whether they will buy their first property in Dubai. And today, most people did not plan to purchase property one year ago because no one knew how the rest of the year would unfold halfway through the lock-down.

The primary emotional driver for first-time homebuyers in the UAE is the trust that this country is not only one of the safest in the world. If you want to invest in a Dubai property, you need to understand current market trends. This plan helps you make wise investments and achieve the best returns. Different forces are currently affecting Dubai’s real estate. These include the pandemic of Coronavirus, new government initiatives and policies, and the upcoming Expo 2020, expected by the end of 2021.

There are five ways in which the Dubai investment real estate market is currently changing.

• The local market offers attractive opportunities.

It’s an exciting time to be an expat or an Emirati buyer in Dubai. In light of a slowdown caused by the coronavirus pandemic, the Dubai government, seeking to rebuild and strengthen the property market, has introduced new policies that should boost growth. The government of the UAE aims at broadening its policies to promote more investment. It means soft lending policies by banks that are prepared to offer higher-value loans than previously available. These mortgages should be available to expats and Emiratis on both off-plan and completed projects.

Buyers can also take advantage of several friendly pricing offers from developers. Additional options, like payment plans, are designed to increase buyers’ demand and revitalize the market. There are some great options in the city, such as Akoya Oxygen Vardon.

• The delayed Expo 2020 will drive demand for apartments for rent.

Expo 2020 is scheduled to open in Dubai in October 2021, delayed from its initially scheduled pandemic date. The exhibition will last six months, and hundreds of thousands of visitors will visit Dubai. Many of these people are exhibitors and employees who are looking for accommodation. They are looking for apartment rentals for at least six months instead of using expensive hotel rooms. If you are interested in a Dubai investment property, it might be wise to use an asset buy to almost immediately buy the property that promises a high ROI.

• Increased buyers’ demand

Expo 2020 is expected to foster renewed interest in Dubai. Many visitors will see their strengths as a place for living and working or starting a business. This results in higher demand for rental properties outside the Expo, which then converts into higher purchaser demand in time. Coronavirus has temporarily made real estate transactions difficult for possible buyers of property in Dubai living abroad. As the world recovers from the pandemic and easy resumes of travel, international investors will return, and global demand will continue to increase. Overseas investors will look for opportunities and luxury properties that they can occupy. These investors will also be encouraged by the high standard of properties and locations.

• New golden visas for foreign investors

The Dubai government has introduced an appealing new initiative to attract more global investors. Those investing in the city, in property alone, and a combination of various sectors will receive a long-term visa. Investment can be made in a single property or up to 3 portfolios. Depending on the investment scale, visas of 5 and 10 years are available. Investors can benefit from the same benefits as Dubai citizens, without working here or living here full time. These benefits include access to Dubai’s financial and bank accounts. Golden residence visa holders can bring their wives and dependent family with them. Visa recipients can also sponsor a limited number of managers for ten years.

The new golden visa – available to other exceptional individuals, including highly skilled doctors, scientists, and artists – is already famous. It most certainly fuels growth in the property market, either in luxury properties as these people seek homes or buy to sell.

• The intelligent property transaction platform will improve the process.

Real Estate Self Transaction (REST) is a new Dubai Land Department SMART portal. This mobile app can be used for most property transactions: purchase, sale, and rental. The aim is to reduce this procedure’s time and inconvenience.

By reducing the documentation and geographical limitations required for these transactions, landlords, tenants, sellers, and buyers can all access and manage their property transactions from all corners of the world at any time. The REST mobile app is part of the 10X initiatives of the Dubai government, part of its commitment to lead the way in the SMART urban infrastructure. This new technology makes investing in property in Dubai easier than ever.

Dubai continues to be a safe investment by focusing on new initiatives, good infrastructure, and strengthening market growth. It is in a prime position to recover quickly from Coronavirus. We will see many local and international investors claiming their share in this exciting market in the coming months.