Is it worth it or not to buy a property in Dubai? It depends on whether you want to visit this city regularly, for example, to relax during your vacation. Someone buys a cottage or apartment here to rent out and have a good income. Many people look for and buy housing for resale and make a profit from it.
Under what conditions do foreigners buy objects here?
What cannot be saved by buying a house here? These issues should be discussed in more detail in order to analyze them, because they are of interest to a huge number of people around the world. Let's take a look at them.
- Is it worth buying a property in Dubai?
- Pros and cons for owners
- Other advantages and disadvantages of owning Arab property
- Should we buy an apartment in Dubai?
- Purchase by citizens of other countries
- Website aggregator Emirates.Estate will help you buy real estate in Dubai
For those who constantly vacation in Dubai, it is more convenient and profitable to have their own housing here. It is more profitable, because you do not have to regularly give money to landlords and at the same time know that this apartment or villa will never be yours, that is, sooner or later you will have to move out of here. It's like putting money in a bottomless barrel.
It is convenient because there is no need to constantly look for housing and pay for this service to real estate agencies.
People who plan to earn income from their own real estate, especially it makes sense to buy a residential space.
In any case, it is important to know what it is better not to save money by registering the ownership of Arab real estate. We will also talk about this, talk about the conditions for concluding transactions with foreigners and about the advantages of buying a home in the city.
Payment for accommodation is always a fairly good income. In most cases, it is passive, because the management company is engaged in the search and settlement of tenants, as well as cleaning of apartments after their eviction. The management company usually belongs to the construction company from which the object is taken. If the purchase is made from a private person (secondary housing), of course, the residential complex also has an organization that serves it.
In order to get only advantages from the purchase, it is important to choose the right apartment. To do this, you need to decide in advance for what period – long or short – you will rent them. Depending on this, you have to look for a room either near the center, or a few kilometers from it, but the main thing is that there is a beach nearby.
Many tourists come here to the sea to swim and sunbathe all day.
In addition to the sea, it is equally important for other travelers to have attractions close to their houses and within walking distance. These are located in the heart of the metropolis.
Emigrants who come here for a long time prefer houses by the sea. Many people want to live in quiet places, far from the city center.
However, most often, workers from India settle on the outskirts of Dubai. Several people live in the same apartment. Such housing is inexpensive, but residents have to repair such real estate more often than other apartments, because finishing, communications and even furniture wear out faster and become unusable because of the large number of their users.
For families with schoolchildren or children who go to kindergartens, it is important that these institutions are located nearby. Office centers are necessary for entrepreneurs, people who come to Dubai to work in highly paid positions.
If you plan in advance who you will rent to, you will be able to set the task for the realtor correctly, who will help you find the right district and object.
To resell the property as quickly as possible, it is better to buy apartments near the beach, shopping and office centers. In this case, there will be no end of those who want to buy, the main thing is to provide the search for tenants to professionals – local agents and management organizations.
- The local weather is no less important. The climate allows you to spend time by the sea, in the sea and on the beach, even all day and at all times of the year. Of course, this is an advantage for many people. All year round, travelers come here to sunbathe on the beach and explore the local attractions.
- By the way, about the sights. Their large number also brings here crowds of tourists from different countries of the world. Of course, all of them rent a house or buy it, and they are potential clients of investors.
- In addition, the transport infrastructure, which is very developed here, allows you to easily move inside Dubai, across the country between the Emirates and go or fly to any major foreign locality. From here, dozens of planes fly daily to different cities of the Earth. There are also many airliners arriving here, which bring hundreds of people to Dubai every day, arriving for a variety of purposes. All this is undoubtedly an advantage for owners and investors.
- A high standard of living, good salaries for local workers, many large shopping centers (each of them is like a separate city with ski slopes, water parks, shops, supermarkets and even apartments). In addition, there are restaurants and cafes in the shopping center, and in the metropolis. In addition to the shopping centers, there are also amusement parks, office centers and many more. All this makes living here incredibly interesting and desirable for many people, even those who have seen everything in their life, but Dubai is able to surprise everyone.
That is why housing here is not the cheapest in the world, which cannot be regarded as a drawback, because after the purchase, investors work (or intermediaries for them) in the same market. When reselling real estate, the amount is added to the available cost (it increases every year). And when renting a property, of course, the purchase price is taken into account (when the rental price is set, the cost of the object is taken into account: the more expensive it is, the higher the price for tenants is).
Are there any disadvantages? Maybe there are, but only for those who do not like the heat. However, we can say that the city has air conditioning everywhere, so it is not so difficult to endure the midday heat (which, by the way, is only in summer, but not at other times of the year).
All of the above and all the advantages say that it is worth it. However, it is important to know the conditions under which foreign citizens can buy housing in Dubai.
In the metropolis, there are places where foreigners have the right to purchase real estate with the ability to dispose of the object as they want. They can resell it, give away, rent for any period of time, inherit, and so on.
Where can we buy such a home? In the following districts:
- Dubai Marina,
- Archipelago of the World,
- Jumeirah Beach Residence,
- Palm Islands, and some other areas.
Before buying, you need to check this point with the Dubai Department of Real Estate.
If you apply for a mortgage loan from a bank, the institution will tell you whether you can buy the object (they have special lists).
In addition, realtors also have similar lists.
Foreign investors cannot buy premises in other districts. However, they are entitled to a lease for up to 99 years.
Russian citizens can take out a mortgage. Financial organizations issue loans to foreigners for the purchase of apartments at rates from 6.5 to 9.5 percent. The periods for which the loan must be paid are usually between five and 25 years.
According to the law of the United Arab Emirates, after signing the contract, you must register this agreement with the city Office of Real Estate Registration. Otherwise the acquisition will be considered illegal, that is, you cannot do legally whatever you want with real estate, and even live in it.
You can see right now what housing options are available at the moment, and what is for sale in Dubai today. The website aggregator Emirates.Estate has selected the best apartments and cottages that the owners – developers and individuals – have put up for sale. Among these objects, you will find rooms to suit your taste and budget: studio apartments, townhouses, penthouses, and many more. There are budget options and luxurious, residential complexes.
The representatives of our company are happy to help you with your choice. You can write to us in the feedback form or call the number on the website. Enjoy your purchase!