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The real estate market is multifaceted, and it has its own subtleties and peculiarities in each country. Buying overseas housing, including real estate in Dubai, is undoubtedly a successful investment. This is a profitable investment if your goal is to rent your home in the United Arab Emirates for a short or long term or resell it later. When buying property abroad, you also have a kind of "spare airfield" if you plan to move to a warm stable country for permanent residence. Purchasing a home in the UAE is a great opportunity to get a second holiday property. In this article, we will talk about how to choose the right accommodation in the UAE so that the purchase will bring you joy and become a profitable investment.
Content:
- Secret No. 1: taking control of the property market situation
- Secret No. 2: determining the purpose of the purchase
- Secret No. 3: determining the real market value
- Secret No. 4: focusing on the difference between the secondary and primary market
- Secret No. 5: viewing real estate
- Secret No. 6: analysing the layout
- Secret No. 7: calculating the cost of maintenance
- Secret No. 8: bypassing offers at a below-market price
- Secret No. 9: choosing the right agent
- Secret No. 10: choosing the right developer
Secret No. 1: taking control of the property market situation
Buying a home in the UAE has always been popular with foreign citizens. In 2022 and this year, the country has an unprecedented high demand for real estate from overseas investors. The housing market in the country offers many options for every taste, and it is worth carefully studying the market to choose the right one.
Someone prefers to buy apartments in development projects in Dubai and Abu Dhabi focusing only on these emirates as the most sought-after among tourists. However, there are also many interesting residential real estate options in the market of Sharjah, Ajman, Fujairah, and Ras Al Khaimah. Meanwhile, many small emirates are located near Abu Dhabi and Dubai. It may make sense to consider buying real estate in these places, especially if your budget is limited or if you are looking for investment assets that will become more expensive in the long run.
Anyway, it is difficult to analyse the secondary and primary housing market, information in all areas, and infrastructure without professional help. It is better to use the help of experts who know the features of each emirate, the areas with the highest ROI, and the locations in each of the cities that are the most suitable, for example, for families or permanent residence.
Secret No. 2: determining the purpose of the purchase
First, you should decide whether you want to buy a property to live, resell it or rent it out. In the first case, you should start from your preferences: what type of real estate you like – an apartment in a condominium, a townhouse, a private house or a luxury villa in Dubai in a low-rise community. If you have children, you should pick up real estate near playgrounds, play areas, kindergartens, and schools within walking distance.
If you are going to purchase a house to rent it out, you should put yourself in the place of the tenant and focus on his interests. Tenants prefer to rent apartments in brand-new buildings near the beach or famous attractions with good engineering equipment, a full range of services, and developed internal infrastructure, such as a swimming pool or gym.
Secret No. 3: determining the real market value
Focus on the cost per square metre, and before buying a property, be sure to pay attention to what area you will get. Some developers indicate the area of housing in their ads, including the square footage of utility and technical rooms, such as a balcony and a staircase. Thus, the real square metres you get are smaller. It is important to keep in mind that the purchase does not disappoint you.
Secret No. 4: focusing on the difference between the secondary and primary market
The United Arab Emirates is actively developing its residential sector. There are many houses built in the country in the last 10–15 years. Primary and secondary real estate in the country differ in equipment, quality of communications and amenities. Study each property on the secondary market not to get into trouble later. It is better to buy real estate on the primary market, because it offers decent options at affordable prices.
Secret No. 5: viewing real estate
You should purchase a property in the UAE after viewing it in person. Moreover, your agent who you trust completely can do it. By law, you can also buy a property online — if you have a good real estate agent. In this case, you should study not only the residential unit but also the surrounding area and its infrastructure. If there is a busy tourist sector nearby, such as hotels, shops, and restaurants, consider this. For example, it will be a plus for active young people without children, while it will be a minus for families with children and pensioners. Before buying, you must have complete information not only about the building but also about the surrounding area.
Secret No. 6: analysing the layout
When choosing a property, pay much attention to its layout. It is not only about the location of the rooms in the apartment. You need to study the floor plan and make sure that your bedroom, for example, does not border on the neighbours' bathroom.
Secret No. 7: calculating the cost of maintenance
When buying a property, take into account the cost of its maintenance. If you are buying a secondary property, talk about this topic with the previous owners and find out more about it.
Secret No. 8: bypassing offers at a below-market price
It is one thing to buy Arab real estate profitably. This is an excellent chance to do it now. However, a below-market price should alert you. If the property is much lower than the market value, this may indicate violations during construction, encumbrances, liens, mortgages, and so on.
Secret No. 9: choosing the right agent
Choose an intermediary very carefully. These are the major criteria for this:
- an impeccable reputation;
- a great experience;
- customer reviews.
Buying a property is a responsible step. Many people take it only once in their lives. Talk to the manager and study the real estate database and tour conditions to get acquainted with the properties.
Secret No. 10: choosing the right developer
The reputation of the developer is much more important than that of the agent. A good reputation guarantees that the project will be put into operation on time, it will have all the necessary documents, and the building will meet high construction standards. Buying a home in this case will be as successful as possible.
The Emirates.Estate aggregator is a complete and reliable database of all trustworthy developers and off-plan and finished projects. If you want to get a free consultation, please leave a request on the website right away. Our specialist will contact you, listen to all your wishes and connect you with a trusted agent in the UAE! You are guaranteed to purchase the house or apartment in Dubai you have always dreamed of.
Trust reliable specialists and invest in your future. Talk to our consultants about all the nuances of buying a home in the UAE as soon as possible.
