Distress Dubai property
Dubai real estate prices have dipped due to the economic downturn plus oversupply of units and there are many distressed property deals to be had at the moment. Such scenarios distress Dubai property big time and while many investors and real estate developers are struggling with the current Dubai property situation, there are others who could benefit from the same deplorable state of affairs. Those with the know-how and means to transform something bad into one that is good take a look at Dubai properties currently on the market and see opportunities FazWaz UAE can help you. Distress Dubai property can feature property sales for luxury villas starting at Dhs 750,000 and apartments at Dhs 229,845. The unfortunate circumstance of the investing public is now a chance for others with the funds to capitalize on the ailing Dubai property market.
It is no secret that freehold properties in Dubai have experienced rapid changes in recent months. What used to be glamorous and breathtaking real estate that held so much promise is now confronted with dropping property values as well as citywide redundancies.
But this is just the tip of the iceberg. More challenges lie underneath, with property cancellations and delays taking place practically everywhere. Clearly, Distress Dubai property and what is left is a mere shadow of the former prestigious freehold property prime location. Still, some find appeal in the real estate crash and almost welcome the disturbing property sales numbers.
Many struggle with making payments for properties they bought off developers, all while having to come to terms with the present financial confusion assailing the area. For most of these people, the choice is narrowed down to either make distressed sales or default on payments and lose a particular property. They usually wind up picking the first alternative as it is more sensible to slash prices and dispose of them quickly.
The prices of several villas in Dubai have gone down by as much as 60 percent. This is a classic example where people distress Dubai property prices. In fact, most real estate agents say the only freehold Dubai properties currently on the market are distressed villas. It is happening in a once globally celebrated property development, the Palm Jumeirah. Villas there are now available at half their previous sale price tag.
By 2019, real estate prices are expected to continue to nosedive by as much as 30 percent. Nevertheless, even if such a situation becomes a reality, the long-term market outlook appears to be rosy. Distress Dubai property and provided you have the financial stomach for it, you stand to make a pretty decent investment.