Is it a good time to buy a two-bedroom apartment in Dubai, or should I rent it?

As property prices are expected to continue rising, setting the stage for an increase in mortgage interest rates in 2024, now is a great time to buy and take advantage of favourable market conditions

The decision to buy or rent a two-bedroom apartment in Dubai depends on several factors, including your financial situation, long-term plans, and lifestyle. If you plan to live in Dubai for an extended period and have the financial stability to support a mortgage, buying a two-bedroom apartment is a great investment.

With Dubai’s positive market trend, the emirate is a paradise for those wanting to invest in real estate. In addition, as property prices are expected to continue rising, setting the stage for an increase in mortgage interest rates in 2024, now is a great time to buy and take advantage of favourable market conditions.

Finally, Dubai offers exceptional value compared to other major capital cities and allows tax-free rental yield. However, renting is a great option if you are not ready to make a long-term commitment or prefer flexibility.

Currently, the real estate market in Dubai is relatively stable, with a moderate supply and demand balance, which means that rental prices may not be increasing significantly, as witnessed in 2022. Ultimately, it’s important to weigh each option’s benefits and drawbacks and make the right decision for you.