Covid-19 impact: Is this the right time to invest in Dubai property?

Covid-19 impact: Is this the right time to invest in Dubai property?

Buying a home is traditionally considered one of the most prudent investments you can make.

But considering the global pandemic, the stock market threatening to crash and oil prices touching historically low levels, the resulting economic crisis is throwing into question all conventional wisdom.

The housing market globally and in Dubai has seen its share of surges and dips, but it is safe to say that it remains a top choice among investors even at times of crisis, owing in huge part to the fact that it will continue to make money in the long run.

With interest rates slashed in a bid to stimulate global economies, the cost of borrowing has become cheaper, making mortgages more affordable for those with adequate finances.

Another compelling reason to consider investing in real estate during a crisis is purely from a diversification and income generation point of view. Typically, one sees that when the stock market is doing poorly, investors who are looking for other opportunities find that real estate is a safe haven.

Adding to the mix is Dubai's well-established reputation as one of the world's most lucrative locations for investment, offering over seven per cent gross rental returns on an average, according to a recent