DUBAI Real Estate 2022-2023 CRASH Alert
— JWPortman
DUBAI, DUBAI, UNITED ARAB EMIRATES, September 1, 2022 /EINPresswire.com/ — According to JP, James William Portman from JWPortman, the Dubai property market has seen exponential growth for the past couple of years, despite the obvious covid restrictions, as Dubai coped with the pandemic much better than virtually all other countries and therefore any talk of the next Dubai property crash 2022-2023 is far from investors minds
The Dubai property market continued to grow during and after covid with the highly successful Expo 2020 extravaganza which was delayed until October 2021 until March 2022 which attracted many international visitors and investors
Expo 2020 Dubai recorded more than 24 million visitors during the six months after receiving great interest from all over the world to attend the event in the final weeks.
The total of 24,102,967 visits was just under the pre-event goal of 25 million, which came close with one million visits in the last few days on the final weekend.
With 200-plus pavilions across the site, including those representing 192 countries, proved to be the outstanding attractions for many who attended
After Expo 2020 Dubai property experts believed the market would cool but then came the Russian and Ukraine war which no one had predicted so the Dubai property market continues to grow with the huge influx of investors looking for Dubai as the flight to safety for their hard earned money
Around the world, during covid, unlike Dubai, many governments have continued to print money to prop up their economies but this has come at the price of causing high inflation thus having to increase interest rates which has effected the confidence of the global financial markets and seen the dramatic fall in stock prices during 2022
So let’s see why potential investors would consider owning a Dubai Off-Plan property even though most of the world is going in to recession
Unlike any other city, Dubai is considered the most dynamic property market in the world therefore due to extremely high demand, virtually all properties are sold before the first brick is even laid
Meaning the Best quality and the Best Dubai properties in Best locations are not available in the ready market as Dubai properties sold Off-Plan are purchased at significantly lower prices
Dubai Off-Plan properties are also available with Interest Free Developer Finance which come with Low Deposits and Flexible Payment Plans during the construction phase up until handover
Is investing in Dubai Off-Plan properties risky compared to investing in Dubai Ready properties
When investing in a Dubai Off-Plan property there has been a significant change in the law since the world financial crash of 2008 as all Developers must open a RERA (Real Estate Regulatory Authority) approved Escrow Account for every project in which they wish to sell
The account must be in the name of the particular Dubai project (NOT The Developer) and its proceeds must be used exclusively for the construction of that project
All the funds are held in trust. If the Dubai Developers breach these rules, they can face fines, cancellation of their license and even imprisonment
Why Invest in Dubai
Dubai is just one of the United Arab Emirates which has Zero Income or Capital Gains Tax
Dubai has a thriving economy which translates into excellent standards of living, infrastructure, entertainment, education, business and work opportunities
Combine Zero Taxes with Virtually No Crime, Strong Economic Performance and Stable Governance, makes Dubai one of the Best places to invest and or live
When is the next Dubai Property Crash
Predicting the top and the bottom of any Dubai Property Crash is only for those who believe in the psychics of this world as claiming when the next Dubai Property Crash will take place is just fantasy
So when is the next Dubai Property Crash. Nobody knows when the next Dubai Property Crash will be but any Dubai Off-Plan Property investment should always be considered as a long term investment for optimal gains
Investors adopting a long term Dubai Off-Plan Property investment strategy will mitigate any short term losses by any market downturns
James William Portman
J.W.Portman
+971 585019270
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