From the perspective of Dubai properties, the end of 2010 and the whole of 2011 have seen a great change in investors’ mindsets. To cope with changing trends, sellers also need to adopt certain techniques that could entice the buyers. The change in winds is due to economical turmoil in European and Western States. Right now Western world is going through the worst phase of the century as investment opportunities are diminishing and employment opportunities becoming more and more scarce.
The financial instability has doubled due to the political turmoil in some parts of the world. Because of that reason, the investors, who turned towards Europe after Dubai’s recession, are returning to Dubai real estate as it offers a safe haven. The important thing which is noticed by analysts and experts is that the new investors have different mindset and are looking for quick deals. The major changes noticed in investors’ mind is listed below.
Serious and cash ready buyers
As stated earlier that the property slump in Dubai forced investors to flee from Dubai to seek investment opportunities in Europe. However, now the wheel has taken a full turn and investors are now returning back but with a different approach. According to an expert, Dubai property market has seen large number of investors this year. Among them, many were families looking to relocate and individuals simply looking to invest.
Most of the investors, as per the expert, are serious and cash ready buyers seeking quick transactions for quality properties. Another reason of this investment trend in Dubai properties is the lack of trust on banks. Investors are tired of fixed deposits and poor customer services offered by the banks.
Investors are now looking for quick and hassle free deals. So sellers should also prepare their properties by home staging and getting all documents ready before setting up properties for sale. Well-maintained and well-presented properties always have higher chances to get sold quickly. If the property up for sale has tenants, then seller should notify them in advance about the status of the property. The reason for quick deals is that almost all investors are foreigners and come to Dubai for a week or two, so they quickly finalize the deal and return.
Mortgages are another hassle for buyers as it takes months to get clearance. Sellers should get all the information needed for mortgages and when the time comes, hire the services of escrow agents since they have experience in this field and can get clearance in no time.
Sellers need to remember that Dubai real estate has become a buyers market and buyers are not simply throwing their hard-earned money on any property they come across. Therefore, to get most out of your investment, plan carefully and act smart.