Why it is profitable to purchase real estate in Dubai during summer

According to a report made by representatives of the city's Land Department, Russians are actively purchasing real estate in Dubai. Is it any wonder then that it’s ranked fifth on the list in the real estate market among foreign investors.

In addition, residents of India, Pakistan, Great Britain, and Iran take the first four places, respectively, on this list of buyers. What’s more, the residents of the United States and Canada aren’t far behind their compatriots.

So what attracts Russian buyers to Dubai? Are there any tips or tricks one needs to be aware of when it comes to purchasing a property to make a deal as profitable as possible? Why is the cost of apartments in the summer less than at other times of the year in Dubai? We talk about all of this and more in this article.

Content:

• Dubai’s housing options, districts and cost per square meter
• Is it profitable to maintain villas and apartments in Dubai?
• Should I purchase an apartment near the sea or in the green zone in Dubai? Vacation and the purchase of real estate in Dubai
• Is it profitable to rent a house in Dubai?
• Dubai’s weather and why it’s more profitable to purchase apartments during summer than at any other time of the year
• More about Dubai’s future
• We will help you to purchase a villa or apartment in Dubai

Dubai’s housing options, districts and cost per square meter

Even though in the minds of most people, Dubai is a place where luxury penthouses and residential complexes are overflowing in abundance, this city also offers other affordable housing options for most people.

For instance, Dubai also provides low-cost apartments. So even Russians earning a middle-income wage will be able to afford it.

For instance, the cost per square meter of living space in one of the newest areas of Dubai, – in Jumeirah Lake Towers is less than the price per meter of a place in the peripheral areas of Moscow, khrushchyovka. More specifically, the price starts at 2500 US dollars.

Also, you need to take into account that you’re not simply paying for a room. You’re also paying for the view from your window (skyscrapers and the ocean, and if the floor is high enough the city looks like it’s in the palm of your hand). In addition, you’re also paying for the parking space, the opportunity to swim in the pool and work out in the fitness room anytime you like. Plus, you’re even paying when you go and visit the coast, which is about a 15-minute walk (or ten minutes by car).

In addition, on the artificially made island of Palm Jumeirah, the cost of housing is directly dependent on its proximity to the ocean or whether it’s located along the coast. starts from three to three and a half thousand US dollars per square meter.

Apartments in high-rise buildings near the ocean in Dubai Marina are sold for about the same price. Surprisingly, the number and variety of skyscrapers in this district resemble that of Manhattan in New York.

Furthermore, the residential complexes here offer a variety of apartments with large two, three, and four bedrooms. What’s more, there are also studio apartments available which are sold at a fairly modest cost.

While at the same time, the properties in the city are rented by developers with full high-quality finishes, outfitted with plumbing and furniture. Nowadays, many properties come outfitted with built-in appliances such as air conditioners, kitchen stoves, and so on.

Is it profitable to maintain villas and apartments in Dubai?

The United Arab Emirates differs from many other countries where the real estate sector is concerned in that the owner does not pay anyone anything for the property and the rent.

Although, the property still needs to be maintained and still involves expenses, as one still has to spend money on:

• Cleaning and security of the residential complex.
• Improving and upgrading the property (swimming pool, parking space, etc.).
• Garbage collection and so on.

These types of expenses amount to approximately between $20 - $80 per square meter every year (approximate minimum and maximum values are given depending on the size of the residential complex).

Also, when the owner rents out his/her property, and we’re specifically referring to apartments here, the guests are to pay for the consumption of electricity and water.

Furthermore, if the owner rents a detached house or a townhouse, then the tenants also pay for the maintenance of the land plot. However, the owner will have to fork money out of his/her own pocket to improve the surrounding area.

Should i purchase an apartment near ocean or in the green zone in Dubai? Vacation and the purchase of real estate in Dubai

Whether you decide to purchase a house near the coast or away from the ocean that decision is entirely up to you.

Most of the people who choose to purchase real estate in Dubai do so because they want to spend their vacation time visiting the city to enjoy the ocean and sunbathe near the shores of the coast. So they end up purchasing properties in coastal neighborhoods. Also, it is here that many tourists from different parts of the world visit all year round.

However, living in a place filled with a crowd of tourists is not for everyone. As such, some people end up purchasing accommodation in sparsely populated areas which are usually located some distance from the coast.

So since Dubai has such a wide variety of real estate to offer, there is a generous selection of properties and places available to suit everyone’s needs. Even cottage settlements can be found here (such accommodation is popular among families with children and people who want privacy).

Furthermore, at2500 US dollars per square meter, you can purchase a townhouse in the residential area of Springs or a villa in the popular areas of Jumeirah Islands or The Meadows. Plus, the infrastructure is incredibly well-developed in these areas too. What’s more, there are scenic walks that one can take as these areas have been remodeled. And as a bonus, the quiet in these areas coexist in surprising harmony with the rest of Dubai.

Also, when comparing Dubai’s cottage populated regions with that of Moscow’s, these properties here have high fences. Although, it’s not because of any angry dogs as there are none.

So there is no need to shut yourself off from other people or worry about your property because the Gallup World Poll has reported that 95% of residents living in the UAE feel completely safe alone in their homes, as well as, on the streets. This is the highest reported figure out of all the countries in the world.

Besides the cottages located in special green areas of Dubai, including high-rise buildings along the seashore, there are other real estate options available too. For example, The Greens. This area boasts, a lot of green trees and plants. Also, residential buildings have seven to eight floors. So this area somewhat resembles the resort areas in Europe.

In addition, The Greens also features tall houses overlooking the lawns of the popular Emirates Golf Club.

From here, it takes about half an hour to reach the shore via public transport. While by car it takes one only a convenient 10-15 minutes to get there.

Is it profitable to rent a house in Dubai?

Every year it becomes more and more profitable to own property in Dubai by renting it out. Especially, since rental prices increase by about 10% or more annually.

Despite this, many people still wonder how it can be profitable to rent a property under conditions with such a high rate of sale on properties that only continues to grow today.

The fact is there are more and more people visiting Dubai every year, which means there are always tenants who are looking to rent out properties. As such, the demand for both short-term and long-term rentals is growing. In addition, housing here in Dubai is particularly popular among expats who come to work here ( skilled workers with diplomas who are highly qualified experts in the fields of education, medicine, engineering, etc., and unskilled with no qualifications), as well as, tourists. So properties in Dubai are quite profitable, especially among investors who purchase houses for resale.

In some other countries, however, foreign citizens cannot purchase real estate and register it as property as in the UAE because they do not have the right. So in such countries, investors make use of local citizens (friends) or start companies to assist them in their purchase of real estate.

In the UAE though, such tricks are not necessary, as foreigners have the right to purchase local real estate.

Moreover, many foreigners still do not know that in the UAE one can purchase real estate in full ownership. That is to say, you have full rights to the property and can dispose of it as you wish. For instance, you can either find tenants and rent the property out or you can resell it and make a profit on it or you can pass it on by inheritance or simply give it away.

So to sum it up, it is no longer necessary for one to only rent a room for 99 years (previously, it was the only option available to foreigners, but now there are other alternatives). Now, foreigners can purchase various available properties from the different areas in the UAE.

However, you should be aware that you can only purchase property in specially designated areas, such as freehold zones.

Furthermore, the list of such places is established by the Decree of the ruler of the emirate No. 3 of 2006 (that is to say, you can fully own a villa or apartment for many years).

These types of properties make up almost the entire "new Dubai" area. Some of the most popular ones include:

• Dubai Marina.
• Palm Jumeirah.
• Emirates Living.
• Jumeirah Lake Towers.
• Downtown Dubai, and so on.

So if you’re a representative of another country and would like to register an apartment for yourself, all you need is to show your passport.

Furthermore, it is better to purchase a house with the assistance of a real estate agency. Local real estate agents (if we are not talking about the sale of the property by the construction company itself) participate in all transactions and without them, no agreement is officially concluded until everything is signed. Therefore, it’s better to entrust this sort of thing to the experts Especially, since according to the country’s local law, realtors are responsible for the results of all transactions.

About Dubai’s weather and why it’s more profitable to purchase apartments during summer than at any other time of the year

Dubai’s climate can be described as hot and dry as it experiences sunny weather for almost 365 days a year. However, this does not mean that it has always been like this.

Those who have visited Dubai during autumn, winter, and spring would know that these seasons have moderate air and sea temperatures. So the overall climate in Dubai is actually quite comfortable.

More specifically, the heat that everyone talks about in Dubai is only experienced during the summer season. So elderly people, as well as, people with cardiovascular diseases usually leave the city or country during this time.

In summer, the temperature is mainly recorded at +40 degrees Celsius on the thermometer. While in cooler seasons, the average temperature does not exceed +25°C. So during autumn and spring, because the air temperature is so moderate, this is usually the most popular time for tourists to visit Dubai. Also, since the water in the ocean here is not below +25 degrees one can swim in it during summer, autumn, spring, and even winter. Practically all year round!

Moreover, there’s no need to fear the summer season. Especially, if the +40-degree mark is reached. The government of Dubai and various officials have seen to the comfort of everyone by ensuring that air conditioners are installed everywhere in the city. There are air conditioners covering literally every square meter of Dubai. Even at bus stops. So as a result of this, the local summer heat will only be terrible in theory and not in reality.

So despite the heat, investors are still attracted to Dubai as it holds much more advantages. Furthermore, it is because many people leave the metropolis or the country for at least three months that the prices of local real estate fall. Because the demand is reduced during summer.

However, there will always be people looking to rent property.

Take for instance expats. Ninety percent 90% of them live in Dubai (the country’s local population is only 10%). So expats work here, as well as rent housing. The latter serves as a source of income to property owners.

What’s more, Dubai’s population also includes tourists, migrant workers, and entrepreneurs.

Located where the air and sea trade routes from Asia, Africa, and Europe meet, Dubai can almost be likened to that of an intersection.

It’s even known as the Middle East’s largest center of business activity. This is mainly due to the free economic zones, which are the regional headquarters of many international organizations, the largest seaport in the region, equipped with the most modern infrastructure, as well as, a huge international airport.

From all of the above, we can draw the following conclusion: entrepreneurs who visit Dubai for a while or move here, also eventually become potential buyers in the real estate market. Plus, they also purchase different types of property from the various divisions in the real estate sector. Moreover, beginners either rent or purchase budget-friendly options. While the wealthier entrepreneurs prefer luxury apartments. So various types of real estate, both rented and for sale, are used here.

More about the Dubai’s future

According to some of the people who have traveled to different countries and seen a lot, they claim that nothing can surprise them anymore. Yet today, Dubai, the “city of the future”, has managed to do this for them.

The most surprising thing of all is how quickly a modern city slowly emerged from the mysterious desert sands. So where once, there was nothing but sand, now there is a successful city with everything one could imagine. From a highly developed network of highways to office shopping centers that provide skiing, water parks, ice arenas. There’s even a high-tech metro you can use should you feel the need for speed.

Plus, sports competitions, as well as prestigious exhibitions, are held regularly. So people flock from different parts of the world just to be a part of the experience. In addition, well-known celebrities from all over the world hold concerts here too.

Furthermore, according to representatives of the organization MasterCard, Dubai regularly holds the top spot as one of the most visited countries in the world. Sometimes, even bypassing other popular countries like Barcelona, Rome, and even New York.

We will assist you to purchase a villa or apartment in Dubai

Employees of the Emirates.Estate website aggregator, as well as our partners, help foreigners from all over the world to find the property they need. So whether you’re in search of personal or work accommodation, we’ve got you covered. What’s more, our real estate services are comprehensive and even extend to liaising with sellers, negotiating discounts, and making purchase agreements. So as you can see, we take you through the whole process. This includes all the stages of the property purchase. Our experts are true professionals and are happy to be of service to you. Choose us and start looking for your dream apartment today! Simply access our website, use the portal and start searching away. It’s as easy as that. Especially, since the user-friendly interface is designed in such a way that investors can easily find any type of housing, commercial property or plot. If you have any questions, please feel free to contact our experts via the feedback form. Alternatively, or you can also call the phone number listed on our website. For more information, please visit our website directly at https://emirates.estate.