Real estate investment can never go wrong because it brings so many benefits with it. Once you have invested in a property, you can rest assured that your money will only grow and you won’t face any losses ever. The best way to benefit from some additional properties that you might have in your possession is to earn a rental yield through it. Specially, if you own a property in Dubai, you can get a great deal out of it. In case you are already involved in something of that sort, but that doesn’t seem to be working right, you might want to know some strategies to earn high rental yields in Dubai.
To get insights on the same, we recommend you check the sections to follow where we will discuss the top 5 strategies that will help you earn a high rental yield. Not only in Dubai, but you can consider following these strategies in other regions as well and make your money grow like never before.
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Buy a property in high-demand area
Specifically talking about Dubai, you should choose to invest in a property that is located at a prime location in Dubai. For example, properties at locations such as Downtown Dubai, Business Bay, Jumeirah Village Circle, and Dubai Marina attract more tenants. Though these properties may cost you a little more, they are sure to earn you high rental yields in Dubai.
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Choosing the right property type
After location, the next thing that you should consider is the property type and builder’s reputation. If you invest in a 1 to 2-bedroom apartment at Emaar Club Place, it is sure to attract small families as well as working professionals. You may also consider investing in an off-plan property also known as under-construction property. This is because you can purchase it at lower prices and get a higher rental yield later on.
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Try opting for short-term rentals
As you know, Dubai is a global tourist hub, you can try listing your property on platforms such as Booking.com or Airbnb to earn short-term rentals. In case you have a property near any tourist attraction in Dubai, it will serve as a plus point for you.
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Keep renovating the property regularly
Renovating and upgrading your properties are the two keys through which you can attract a lot of tenants. Nobody wants to live in a place that is old, dirty, and not well-maintained. Hence, if you are expecting high rental yields in Dubai, try modernizing your kitchens, bathrooms, and other spaces for better results.
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Get in touch with a professional property management team
To maximize rental yields, you can connect with a property management team who will provide you with the necessary guidance, advice, and additional service to attract tenants. Not just that, they will also provide you with ideas to manage your property effectively and manage any legal aspects of leasing a property in Dubai.
In Conclusion:
By following the strategies mentioned above, you can promise yourself High Rental Yields in Dubai. Apart from the given tips, you should also conduct your own research to stay informed about the latest market trends. On the other hand, if you are capable of it, invest in a commercial property as it offers much higher rental yields as compared to residential ones. I hope this blog post has given you deep insights into navigating the wide real estate marketspace in Dubai and optimizing your income.