Should you buy or rent a home in Dubai?

Choosing between renting and buying a home is one of the biggest decisions most expatriates have to make in Dubai. Even though the market conditions seem to sway in favour of the buyers, it is still a very big decision facing most people. Currently, due to increased competition in the market, property prices are coming down. It is a ripe time for those looking to own a home in the UAE. On the other hand, rent prices are also favourable.

Here are some few factors you should consider when deciding to either buy or rent a home

1. Your stay

The first thing you need to consider is how long you are planning to stay in the country. Considering how long you are going to live in the country will help choose the most viable option.

Are you planning to spend the next ten years In the UAE? If you are planning to stay for a couple of years or permanently, buying a property may be a good option. On the other hand, if you are not absolutely sure about your stay, renting might be the best option.

2. Budget

Budget is an important factor that determines the choice you will make. If you have a reliable and steady source of income, buying a property may be easier. You will only need to make a minimum deposit of 25% and pay the balance in monthly instalments.

Before taking the liability of a tenancy contract, you should consider your financial position. However, if you are going to be making a monthly rent, why not pay towards owning a home? After some few years, you will be a property owner.

3. Market condition

It is very important to take a look at the property market before making any investment decision. Currently, the real estate market in the UAE is favouring buyers with strong ROI across the whole country.

Staying up-to-date with the market conditions will help you to make a better decision.  There is huge competition in the market and prices are falling significantly.

4. Level of control

The level of control you desire on your property may also influence your decision when choosing between buying and renting a property. For example, owning property gives you control over modification and customization especially when buying off plan property in Dubai.

Damac Towers by Paramount Hotels and Resort is a development that comprises of a hotel and residency towers. It is developed by Paramount Hotels in conjunction with Damac Properties.  The best part is that the residential suites are sold off plan at affordable prices which expats can also invest in.

Lights, Glamour, Action at this project in Dubai

Hollywood may seem far away but it’s just right around the corner. Literally! Paramount Tower Hotel & Residences has been crafted as more than just a destination. It’s a living, breathing world driven by imagination. It’s where anything is possible.

If you are a film fanatic or want to live the life of a Hollywood star? Find out more on Paramount Tower Hotel and Residences here:

The 63-storey tower consists of retail on the ground floor and a hotel, which has levels 15 to 25,  has a selection of beautiful rooms and suites that is tailored for comfort, and creativity that comes with an incredible experience for guests.

The hotel rooms or suites of Paramount Tower Hotel Dubai represent the signature of ultimate luxury with intelligent, attentive and intuitive hospitality style. It’s a whole package: premium dining, exquisite design, warm service, finest spa and more, which sets a rare standard in luxury hospitality.

Additionally, it provides an array of signature Paramount Hotels & Resorts amenities for both guests and residents.

Rooftop infinity pool with stunning views of the Burj area, restaurants and lounges, high-end retail outlets, fully-equipped gymnasium, fitness and wellness centre as well as rooftop terrace with seating and planting are some but not all key features and top-notch amenities.

Paramount Tower Hotel & Residences Dubai is perfectly positioned within the city of dreams. The 258 metres tall tower is in a supreme setting on the famous Sheikh Zayed Road allows guests or residents to consume the superb views of Dubai’s breathtaking view.

It is close to all the popular destinations such as the Dubai International Airport, Burj Khalifa, City Walk Dubai and more. In addition to the near areas, there are two metro stations close by.

This is in return, makes it a great investment opportunity for the discerning investor.