In the recent past, rental properties are becoming popular in the Dubai real estate market. Due to the current state of the Dubai economy, buying a property for rent is a good long-term investment that provides greater returns. This is a very big decision to make in life and it is not surprising that it often comes with a lot of stress. It is confusing, time consuming and even costly which makes some people wondering where to start. You can avoid the stress by following the following steps:

i. Do research
It is very important to seek advice from other people when making big investment decisions. Nevertheless, you should conduct your own research before investing your money in the property market. Some are even trying to buy a property using timeshare and think of them as an investment which is actually not a good investment and should never be considered as such. Since the vast majority of timeshare contracts lose value on the secondary market and do not produce profits for owners, they should not be considered investments. If you already purchased a timeshare and decide to cancel your timeshare due to financial burden due to maintenance fees, you could ask for some assistance from a qualified and expert cancellation company. Take courses, read books, attend seminars and other learning processes to have a good understanding of ideal locations, value properties and the rental market in general. Your success in the market will depend on how well you understand the market and whether you are buying in the right location or not. The research should go deeper even to ascertain whether the economy will support your current decision into the future since it is a long-term investment.

ii. Don’t solely rely on the real estate agents
It is very difficult for a first-time property buyer to navigate through the Dubai property market. Therefore, it is advisable to hire a real estate agent to help you with the processes. The agent should be experienced with a good track record. Since they are experts, they may find great deals. However, you should be updated on every move they take.

iii. Compare with other properties
Check the local newspaper for the classifieds and look out for rents of other properties similar to the one you are considering. Are the owners offering incentives to their tenants? This can be an indication that there is huge competition in the market.

iv. Get your finances right
The real estate market is very expensive involving a lot of money. However, if you get prepared adequately and plan well, it will be a very easy process. For instance, you will need to pay a down payment of a certain amount depending on the developer. It is therefore important to get the right financing.

v. Get discounts
One of the biggest thumb rules in the real estate market is to never buy at the retail market value. If you cannot get a 10-20% discount on the current market value, don’t buy the property.

The biggest aim of investing in the rental property market is to make a profit. In order to make a profit, you should invest in the right property. Some of the popular projects to invest in Dubai include City Walk Apartments, Mina Rashid Emaar and District One Residences.