Is this for real? Well, it looks like it is, and honestly the price of approximately $300,000 for a house that would be built and maintained by a government-backed and publicly listed property developer sounded too tempting even to us. However, we know that there are plenty of other opportunities to invest such an amount of money today in a property anywhere around the world, a property that is already constructed and ready for occupation or to generate instant income. Apart from property, there are other assets that can appreciate faster than you think, while remaining totally under your control.
Would this latest incident in front of Emaar buildings become the official start of the next property boom in Dubai, centered this time around low-budget housing? It looks somewhat more possible by now. Taking into consideration the rapidly growing number of middle-class expats in the Emirate and their thirst for possessions, the madness seem ready to unfold.
Would hundreds of expats flood another low-budget housing projects launches? This is yet to be seen, if there would be more off-plan projects launches, which seems inevitable now. Most probably property developers of all sizes and capacity will reinstate projects that have been put on hold during the past five years.
Would the suburban areas of Dubai become attractive to real estate investors once again? Why not? Dubai is the place everyone wants to live and naturally people live in homes that they prefer to own.
Would you run and fight to buy a home for a little more than $300,000? This it depends on who you are; where did you come from; what is your vision and goals. During the past five years we have read stories about people who landed in jail by investing in property and about others who have made fortunes and now drive around in Ferraris.
The choice is certainly yours to hop on the train of the next property boom in Dubai or to stay on the sidelines and to observe curiously what will happen next.
