Millennials were not among buyers or investors in Dubai’s property market until recently, as most of them preferred renting to owning a home, thanks to the high barriers to entry market entry such as affordability and larger down payments. Even now, they constitute only a small per cent of property purchasers in the emirate. However, this trend is beginning to change.
Attractive and flexible payment plans; reduced housing prices; long term stable income; guaranteed NET ROIs; exclusive DLD offers offered by some leading developers in the emirate; and long-term residency options that come with investments are now making younger people consider investments in Dubai’s property market.
Expats in the 27 to 35 age brackets are increasingly exploring property investments in the emirate, as the property market is now welcoming them with attractive schemes and affordable payment plans. It is clear that perceptions are changing among millennials, who had perhaps previously considered the risks to outweigh the long-term investment benefits.