Nowadays, most people are diversifying their investment portfolio to secure a brighter future. In the Middle East, the real estate industry has proved to be a viable option due to recent growth and an increase in the value of properties. Since there are numerous types of apartments and villas for sale in Dubai, choosing the right one can be a challenge.
Are you planning to buy a property that guarantees good returns? You should consider the new projects by Dubai Properties because they are offered at affordable prices and placed in prime locations. Also, you can look out for properties in the Dubai Creek Harbour. This neighbourhood has some of the most popular apartments for sale in Dubai known as the Lagoons.
Here are some of the features you should look out for in a profitable property:
This is perhaps the biggest factor to consider when buying a property, whether it is a residential or commercial property. The quality of the neighbourhood will directly affect the vacancy rate in your property. For instance, if you buy near a university the students will likely be the primary tenants. Your property will definitely face vacancies when the students go for school holidays.
2. Schools in the neighborhood
Research has shown that the biggest number of buyers these days are young families with or planning to have kids. So, before you buy any investment, you should check out the quality of the schools in the neighbourhood. This may seem like a small issue but can significantly affect your investment. There is no parent who would like to take their kids to a school with bad reputation.
3. Physical and social amenities
A rental property will thrive well if the neighbourhood has adequate amenities. Normally, tenants will want to be able to access essential facilities and services easily. Some of the essential facilities may include hospitals, shopping malls, banks, gyms, restaurants, etc. Also, the property should be connected to services such as telephone, water, electricity and internet.
4. Reliable transport facilities
Transport plays a crucial role in rental property investment. A rental property will only perform well in areas with reliable transportation means. Does the neighbourhood have tarmacked roads? Is there adequate public transport? Are there different modes of transportation? Make sure you check these features.
This is a very big concern to most tenants. The property you intend to buy should be located in a place with adequate sanitation. Tenants tend to shy away from places with hygiene and sanitation issues. When buying a property, look out for things such as waste disposal, sanitary facilities, water and sewerage, etc.