Hamir Asher, GM of Indus Real Estate, advises buyers to invest in property for the long term to maximize gains.
You can’t go wrong with property investment if you’re doing it for the long term. Hamir Asher, general manager of Indus Real Estate, says this is the one big advise he usually gives to property buyers looking to maximize their gains. Market ups and downs are cyclical, he says, and Dubai realty offers man opportunities. Here are excerpts from an interview with Property Weekly.
• What are the trends in the current market?
- It’s a buyer’s market. Developers are reacting to it by offering various schemes that were unheard of such as post-handover payment plans, major percentage of payment at completion and monthly payment plans. Developers are offering what the market is demanding and buyers are positively reacting by taking up these offers. Projects that re getting closer to the handover dates have also seen an increase in their prices. For instance, Mira, a project by Emaar that is just a couple of months away from handover, has seen prices go up by 20 to 30 per cent in the past three months.
• What is your advice to buyers at Cityscape?
- With government support for infrastructure, continued investor interest and a right balance between supply and demand, we feel the Dubai property sector will flourish in the next few years. Current property prices are attractive, so this is the right time to buy. However, when purchasing, consider the budget, which will include deposits, fees, transfer costs and even financing terms. Also, ensure you are eligible to purchase property in your chosen location and have taken correct legal advice and are aware of the contractual obligations. Taking a professional registered real estate agency’s advice helps in making a right investment decision.
• What are the top projects you are promoting? What makes them unique?
- We are marketing some prime properties from major developers. These include Emaar’s Dubai Creek Horizon at the Dubai Creek Harbour (one, two, and three bedroom apartments); Act One|Act Two Towers at the Dubai Opera in Downtown Dubai (one to two bedroom apartments); Golf Villas (five to seven-bedders); Sidra and Maple in Dubai Hills Estates (three to five bedroom villas and townhouses); and projects from Dubai Properties such as Bellevue Towers (one to three bedroom apartments), Arabella Townhouses at Mudon (three to five-bedders) and the latest affordable housing project, Casa Dora at Serena (two to three bedroom townhouses). We also have Nshama’s Town Square (one to three bedroom apartments). What makes each one unique is that it caters to a specific market or group depending on budget, requirements, and lifestyle.
• How does the next quarter look?
- We are now getting a steady demand; the market is expected to remain buoyant. Some new residential projects, driven by affordable housing and flexible payment plans, have come to the market in the past few quarters, with attractive yields appealing to investors.
• Would you recommend buying or renting a home?
- If it’s for a longer duration, investing in property is always better because developers now have attractive payment plans and banks are providing a reasonable interest rate to the buyers.