Diwali and Dubai: Not Just Lights, But a Festival of Investments

Diwali is often seen as the perfect time to make significant investments, particularly in property. In Dubai, this festive season brings a surge of opportunities for potential homeowners. In fact, last year a 15% increase was observed in property inquiries during Diwali, which reflects the growing interest in the market. With property prices in Dubai rising by around 8% annually, many view Diwali as the ideal moment to secure their dream home before prices climb even higher.

But what exactly makes Diwali the best time for such an investment? Let’s take a closer look.

An ideal time to invest

Diwali, known as the festival of lights, represents the victory of light over darkness and the pursuit of knowledge over ignorance. Many people believe that investing during this time of the year can bring prosperity and good fortune. In 2022, over 10% of Indian buyers in Dubai made property purchases during Diwali, highlighting the festival’s importance as a prime investment period. It’s a time when families come together to celebrate, and what better way is to celebrate than by investing in a home that can be cherished for generations?

Attractive discounts and offers await

During Diwali, the real estate market comes alive with attractive discounts and special offers. Many developers roll out limited-time promotions, such as reduced interest rates on home loans—often 2-3% lower than usual. In addition, financial institutions introduce flexible EMI plans and frequently eliminate processing fees, making it an ideal time to take advantage of these offers and secure a property. A recent report indicated that property prices in Dubai have shown a growth of around 8% year-on-year, making this an excellent time to secure a property before prices increase.

A surge in new projects

One of the most exciting aspects of this Diwali is the increase in new projects being launched by renowned developers. Major names in the industry, such as Emaar, Binghatti, Damac, Nshama, Ellington, and Meraas, are unveiling fresh residential options, offering you a chance to find your perfect home, this fits your needs and requirements in your desired location. In 2023 alone, Dubai witnessed the launch of over 30 new residential projects, catering to the growing demand from both local and international buyers. With such a wide variety of options, you can explore properties that match your lifestyle and budget.

Should you spend or save during Diwali?

As you ponder your investment options, you might wonder: should I spend or save during this festive season? While it’s always wise to be mindful of your finances, Diwali is a unique opportunity to make a substantial investment that could yield long-term benefits. By investing in property now, you can capitalize on favorable market conditions and potentially secure your dream home at a better price.

Data suggests that investing in Dubai's real estate has been a profitable option, with returns on investment averaging around 6-8% per annum, significantly higher than traditional savings accounts that offer mere fractions of a percentage.

Conclusion

This Diwali, embrace the spirit of the season by investing in your future. With the positive nature of the festival, attractive offers, and an array of new projects from top developers, there’s no better time to make your property dreams a reality.

So, connect with N7 and light up your future this Diwali and take the first step towards owning your dream home in Dubai.