Real Estate – House for Sale in Dubai for Cheap

22 Nov 2017

Purchasing real estate, be it for investment or personal use, can sometimes be a risky proposition. Dubai cheap houses for sale might be something to consider for potential buyers of real estate. Zawaya Property can provide a wealth of information and professional support to those considering buying real estate in Dubai

 Property Market 

Property markets around the world suffer the same booms, bubbles and crashes as each other, just not necessarily at the same time. The USA housing market is now recovering after the crash of the late 2000s, whilst the Dubai property market saw declines from the crash of 2008. The UK saw extended periods of negative equity in some areas in the 1990s. There are a number of factors, which can impact on real estate prices some of which can be fluid. 

 Location

The popular property mantra location, location, location holds true now more than ever. The perfect property location would be somewhere close to schooling, workplaces and entertainment venues. Each may have different weighting in terms of priority for individual buyers, but to get the maximum interest and the resultant maximum price, being within that triangle would be an enormous advantage.   

Renovations

The quality of the property, and any upgrades is of primary importance. Money invested in repairs and renovations to things like roofs, bathrooms and kitchens is going to repay itself when the time comes to sell. It's estimated that 80% of the cost of replacing a house roof can be recovered when the property is eventually sold. Bathrooms and kitchens are what potential homebuyers see as being the most important rooms, which is why money invested in these rooms pays dividends in terms of property price.

Comparative Prices

An obvious factor is the selling price of similar properties in the area, known as comps. The selling price of one property tends to be used as a benchmark for the selling prices for the next, hence the importance of comps.  

Appraisal Value

The actual value estimated by an appraiser is also very important in determining the final price. The appraiser’s valuation will be used by any lending institution to decide how much to lend a potential buyer, so the importance of getting a fair appraisal done professionally should not be underestimated. These are just a few of the more general factors, which can affect the final selling price of a property. Other macro-factors will also play a key role in determining a particular property's eventual selling price. If you are interested in finding out more about real estate in Dubai, contact Zawaya Property for further information.