Buying real estate abroad in recent years is gaining more and more popularity. Foreigners from all over the world come to Dubai to invest in the sphere of real estate. Luxury new flats in Dubai are among the top choices for getting stable income and a pleasant place to live.
Decision to buy premium real estate
You have decided to buy real estate of the luxury segment in Dubai. The reasons for this decision may be various. You are right to consider it is a profitable investment and want to enhance your capital by renting out your recently delivered apartment, or simply taking advantage of increasing prices on the market. Or maybe you decided to purchase a house where you will easily spend your vacations, in a city with modern infrastructure, a warm climate and security. You can also combine these goals depending on the season.
Although there are no complicated steps in buying property in Dubai, the question of how to properly approach the purchase may appear.
Deciding on an object to invest, the buyer needs to pay attention to the following issues:
- segment of real estate;
- type of real estate;
- location of real estate;
- laws and requirements for the purchase;
- reliable real estate agency.
Segment of real estate
One of the largest and most developed real estate markets is available in Dubai. Add to this the most developed infrastructure of all seven emirates, the most favorable investment climate and the prospects for further development and the emirate becomes a highly profitable area for investments.
According to the statistics, Dubai is a city of foreigners. More than 90% of the inhabitants of the megalopolis are expats. Everyone needs somewhere to live, work and rest. Therefore the rental market here is very developed. Housing in popular projects is very much in demand, and the rental income in Dubai is two to three times higher than in developed markets. In addition, there are no taxes on income and no real estate taxes. All this makes investment in residential real estate very attractive.
The real estate market in Dubai provides properties from various segments. Such a variety of options allows foreigners to choose the housing according to their capital and financial status.
Type of real estate
Each segment of real estate offers various types. It gives a great opportunity to select the housing that will suit you and fit into your budget. Here you will find villas, townhouses, apartments with different numbers of bedrooms and small studios. If you choose a residential apartment, the house is likely to have a swimming pool, gym and children’s room, and all the necessary infrastructure will be within walking distance – several restaurants and cafes, supermarket, pharmacy and stores. For a beautiful view from the window you will have to pay extra as in Dubai it is considered one of the most important characteristics of apartments.
Today, luxury apartments in the new residential complexes are in high demand. They are characterized by an exclusive correlation of price and quality, comfort and style.
Location of real estate
There are numerous neighborhoods in Dubai that offer completely different living opportunities. Think about the reason for purchase and then explore the neighborhoods.
If you are looking for rental real estate, it is recommended to consider more tourist regions, such as Dubai Marina, Downtown Dubai or Palm Jumeirah.
Choosing apartments for family or single living, it is advisable to monitor more remote areas with abundance of greenery and tranquil atmosphere.
Laws and requirements for the purchase
It is obligatory to be aware of the main laws and requirements for buying property by foreigners. Zones for buying real estate, obligations and rights of a homeowner as a landlord and other important issues are to be explored.
As far as responsibilities are concerned, as an owner you should know what maintenance costs will have to be borne by the apartment. If you rent out your apartment, you will be left with the costs of maintaining the building and the surrounding area: security of the building, cleaning and landscaping of the common area (parking lot, pool), garbage collection, and so on.
Reliable real estate agency
One of the keys to obtain a premium quality real estate in Dubai at a reasonable price is to contact the reliable assistants. The real estate agency Dubai-Luxury.Property provides help to all clients taking into account their needs, references and budgets. The team of professional real estate agents is able to select the suitable housing unit of the luxury segment and start making money.
When you contact Dubai-Luxury.Property, you get the next benefits:
- newly delivered properties from the reliable developers;
- support at each stage of a deal;
- in-depth knowledge of legislation;
- excellent awareness of risks and ways of dealing with them;
- time and money saving.
Dubai’s real estate market is developing as fast as the city itself. It’s not just individual houses being built, but huge districts are being developed. Therefore, investing in luxury real estate in Dubai is a wise decision that will pay off in the near future. Be responsible about the process of purchase and stay updated with the latest options.