Whether you are planning on buying or renting a house, the real estate market has rebounded since 2017, to return to pre-crisis figures, especially in large cities. For some, this stage of economic recovery has resulted in a business opportunity, although certain stagnation in the real estate market is visible on the horizon. There is an expected slowdown in the whole country, so is it a good time to buy or rent?
Social Trend Change
One of the consequences of the economic crisis was a change in the social trend in the use of the private property. That is, mortgage defaults doubled, and many decided to flee the purchase and turn to rent. This was due to the lower cost of renting against the expenses incurred to meet the mortgage loan.
What became a necessary experience to alleviate the hard years of the crisis, has become a change in social trend by the youngest group in society. Renting from companies like www.fazwaz.ae allows you to free yourself from certain expenses incurred with a homeowner’s property and, above all, will enable you to reside in central areas of the cities and offers greater mobility if you prefer to move to the place of residence.
Currently, the rental offers greater profitability in large cities as there is high demand. And even though prices have reached a ceiling, it continues to be an excellent business opportunity and more, despite having opened the tap on droppers, for the granting of credit really remains cautious to prevent the ghosts of the past from returning. In this way, they do not offer one hundred percent of the appraised value, and this restrictive measure favors that the rent becomes a viable alternative to opt for a house quickly.