Whether you’re a newbie or an avid investor, dealing in Dubai properties can be both an exciting and daunting experience. Particularly, if you desire to leap from a resident to a homemaker, you’re going to make the most significant commitments of your life, both emotionally and financially. It’s safe to say that familiarity with property dealings is of pivotal importance if you want to make an informed decision.
Yet, not everything you come across is legit. Numerous misconceptions are attached to the real estate sector, leaving you with false perceptions. Besides, rumours and exaggerations are bound to happen, especially when putting up a property for sale in Dubai.
In a world that maintains a blur vision between facts and fiction, inaccurate details and myths can be distracting. You don’t have to get anxious as we’ve got your back. This guide brings you the most common misconceptions regarding property dealings in Dubai.
Myth # 1- You must be wealthy to invest in a property:
In a place like Dubai, the epitome of beauty and the ultra-modern luxury lifestyle, owning property makes you appear affluent. Yet, it’s just a misconception trapping the citizens for decades. You can easily connect with furnished and affordable apartments with reputable real estate platforms.
Myth # 2- Expats can’t invest in Dubai:
Uncertainty is distracting. Maybe not the one you regularly face with yourself, but the crucial decisions you make once in a lifetime. And for that reason, it became a gateway to unfamiliar surroundings, precisely Dubai. Are you an ex-pat and desire to get a decent property within the state, but a prevailing misconception baffled you?
The myth says foreigners aren’t permitted to invest in properties. Yet, in reality, buying or selling a property has never been easier for expats. Without doing much of the legal hassles, you’ll be glad to know that it’s quite a profitable venture and attracts notable investments for foreigners.
Myth # 3- Dubai’s real estate market is oversaturated:
Despite going through hard times in previous years, Dubai’s property dealing is underrated. Due to the latest governing modules, visa amendments, and the success of Expo 2020, there’s a constant flow of foreign investors within the region. Consequently, we expect the rise in the real estate industry to stay for a prolonged period. Additionally, we must mention the studio apartments, which are the most-desired articles by the clients. Surprisingly, the demand for such platforms is accelerating, while the supply is utterly restricted.
Myth # 4- Approaching clients are easy:
Many of you must believe that getting clients in a real estate agency is child’s play. However, it’s the most crucial part of the entire property dealing venture. Real estate doesn’t cost buying or selling, but it asks you to market yourself expertly. The more professional you’ll sound, the merrier it’ll be for your company. Remember that clients always judge realtors with a versatile profile, not years of experience.
Myth # 5- There’s no need for fresh agents:
There’s a common myth that hiring fresh agents is utterly futile in the real estate industry. With no experience and client acquisition, they’ll be useless to the company. Well, it’s not true. Who knows if they’re able to outpace every competitor out there with constant learning and determination. Everyone kicks off their journey from scratch, so they need to be slightly encouraged to proceed the way.
Myth # 6- Developing projects are riskier to invest in:
Since off-plan developments aren’t entirely furnished, few investors assume it to be a riskier deal. The sudden delay in completing these projects is cited as a significant cause. As Dubai never compromises on quality, most property dealers punctually conclude the work. Opt for a reputable company and invest in an off-plan property self-assured to minimise the risk.
To sum it up for you, if you’re willing to connect with UAE’s real estate industry, ensure that you’ve cleared all the misconceptions and concerns before opting for a property for sale in Dubai. Often, candidates follow the traps of scammed companies and agents, but you’ve to clear it off wisely. Without doing so, you won’t be able to reach a sound decision.