7 Reasons why NOW is the perfect time to set-up your new Real Estate Brokering or Developing business in Dubai
The property market in Dubai had rarely seen such a dip like what it had witnessed in recent years. The residential sector had bottomed out. Rents had hit an all-time low. But as we are standing in the middle of 2021 it seems like things are finally turning around. The government had made visa reforms and along with stimulus packages and strong demand from buyers, investors and end-users, Dubai’s property market is on the road of recovery.
The world-class infrastructure of Dubai, its tax free economy, lavish modern lifestyle, capital appreciation, security and safety attracts investors from all over the world. Moreover, the Government of Dubai had recently brought in some immigration reforms and trade liberation that is causing more influx of immigrants than normal despite COVID-induced travel ban.
Here are 7 reasons why you should set-up your new real estate development or brokering business in Dubai now:
- As per S & P Global, a rating agency, the supportive market growth trend in 2021 for real estate is 30%. Dubai’s steady economic reboundis crucial as economic stability of a country is critical when onebuying a property. Dubai’s focus on development and ability to combat the pandemic coolly only just adds to the package. This increases the number of potential property buyers, be it primary or secondary. This creates a huge scope for Real Estate Developing and Real Estate Brokering business.
- Dubai had always been the dream city for many to live their life and now the world’s wealthiest are flocking to this international city.The property market had currently seen an influx of more than 8000 foreign investors. Most of them are from UK and other European countries like Germany, France, etc. As per Nikita Kuznetsov of Metropolitan Premium Properties, there had been 30% transactions on premium properties in 2020 and 20% of their listings had raked in more than 10 million AED.
- In the residential sector, there is oversupply and hence developers had been pulling back. But there is high demand for premium, high-end, great quality properties like villas and townhouses or water front propertiesespecially in prime locations like Palm Jumeirah, Dubai Marina and Downtown. These properties sell superfast. So it is smart to set up a new real estate developing or brokering business
- With the recovery in economy, many people in Dubairecently are choosing to buy their own property, primary or secondary,instead of wasting their money on rent. Some are even looking to own a second home or invest in one. In this world of turmoil everyone is seeking some stability. Thus it is an opportune moment to form your new real estate developing or brokering firm in Dubai.
- The off-plan market had been slow and mainly depends on how much new supply is allowed to enter the market. But for premium properties, even the off-plans sell fast.
- In outskirts or fringe communities, though there had been no signs of price appreciation, at least the market is stable now.
- As per Property Monitor, there had been about 8.3% price appreciation in properties, especially the premium ones over the last 7 months since November’2020. This growth is expected to increase but the rate will slow down over time.
These 7 reasons makes this an opportune moment to set-up your new Real Estate Developing or Brokering firm in Dubai. The license for the same is issued by the Department of Economic Development (DED).
The process of setting up a new business may be simplified with the help of an expert partner. Flyingcolour Business setup in UAE services has been helping clients form companies since the past 17 years. We can help you set up your new business in a hassle-free manner. Please feel free to mail your queries at firstname.lastname@example.org or contact us at +971 4 4542366.