Why it is profitable to buy real estate in Dubai in the summer

Why it is profitable to buy real estate in Dubai in the summer

According to a report made by representatives of the city's Land Department, Russians are actively buying up real estate in Dubai, ranking fifth among foreign investors.

Citizens of India, Pakistan, Great Britain, and Iran take the first four places in this list of buyers. The citizens of the United States and Canada are behind our compatriots.

What brings Russian buyers here? Are there any secrets when it is worth buying a property to make a deal as profitable as possible? Why is the cost of objects in the summer less than at other times of the year? We talk about this in the article.

CONTENT:

HOUSING OPTIONS, DISTRICTS AND COST PER SQUARE METER

Despite the fact that in the minds of most people, Dubai is a place where luxury penthouses and residential complexes are concentrated, the metropolis also has housing that many people will not have to save up for most of their lives.

There are also low-cost apartments that are available even to middle-income Russians.

For example, the cost per square meter of living space in one of the newest areas of the city – in Jumeirah Lake Towers – is less than the price per meter of khrushchyovka in the peripheral areas of Moscow. It starts with 2500 US dollars.

And you need to take into account that you buy not only a room to live in, but a view from the windows (skyscrapers and the sea, and if the floor is high, the city looks like in the palm of your hand). In addition, with the housing, you buy a parking space, the opportunity to swim in the pool and work out in the fitness room at any time of the day, as well as go to the beach, which is about a 15-minute walk (or ten minutes by car).

The cost of housing located directly by the sea and the beach, on the artificially made island of Palm Jumeirah starts from three to three and a half thousand US dollars per square meter.

Apartments in high-rise buildings by the sea in Dubai Marina are sold for about the same price. In this district, the number and variety of skyscrapers resembles Manhattan in New York.

Here, in a variety of residential complexes, with large two -, three - and four-bedroom housing, there are also studio apartments, which are sold at a fairly modest cost.

At the same time, the objects in the city are rented by developers with full high-quality finishes, equipped with plumbing and furniture. Many projects have built-in appliances (air conditioners, kitchen stoves, etc.).

Why it is profitable to buy real estate in Dubai in the summer

IS IT PROFITABLE TO MAINTAIN VILLAS AND APARTMENTS?

The United Arab Emirates differs from many countries in that the owner does not pay anyone anything for the property and its rent.

However, the maintenance of housing still involves expenses. You will have to spend money on

  • cleaning and security of the residential complex,
  • improvement of the house territory (swimming pool, parking, etc.),
  • garbage collection, and so on.

Such payments are taken every year and amount to approximately $20 - $80 per square meter (approximate minimum and maximum values are given depending on the residential complex).

If we are talking about an apartment, when the owner rents out his property, the guests pay for the consumption of electricity and water.

If you rent a detached house or a townhouse, the tenants also pay for the maintenance of the land plot. However, the owner will have to fork out for the improvement of the surrounding area.

APARTMENTS BY THE SEA? IN THE GREEN ZONE? VACATION AND PURCHASE OF REAL ESTATE

To buy a house near the beach or away from the sea, everyone decides for himself.

Most of those who buy real estate in Dubai to spend their holidays in this city, come here to sunbathe on the beach and swim in the sea, so they buy properties in coastal neighborhoods. It is there that many travelers from different countries often come all year round.

However, not everyone wants to live in places with a crowd of tourists, so they buy housing in sparsely populated areas, usually located some distance from the beaches.

You can find objects and places for every taste in the city. So, cottage settlements are built here (such houses are popular with families with children, as well as people who want privacy).

For 2500 US dollars per square meter, you can buy a townhouse in the residential area of Springs or a villa in popular areas of Jumeirah Islands or The Meadows, where the infrastructure is incredibly developed. There are places to walk, with landscaped area around. Peace and quiet here coexists with the civilization of the metropolis.

In the cottage parts of the city, if compared with the Moscow region, there are no angry dogs and the highest fences.

There is no need to shut yourself off from other people, worrying about your property, because, as the Gallup World Poll shows, 95% of residents living in the UAE feel completely safe for themselves and their property, even if they are on the street at night. This is the highest figure among all the countries of the planet.

In addition to cottages in special green areas of the metropolis, as well as high-rise buildings on the seashore, there are other options. For example, The Greens. There are a lot of green trees and plants, and residential buildings have seven to eight floors, so the place resembles resort areas in Europe.

There are also tall houses overlooking the lawns of the popular Emirates Golf Club.

From here, it takes you half an hour by public transport to reach the beach, and it takes you only 10-15 minutes to get there by car.

Why it is profitable to buy real estate in Dubai in the summer

IS IT PROFITABLE TO RENT A HOUSE?

Rental prices rise by about 10% or more in annual terms. Every year it becomes more and more profitable to own housing here and rent it out.

Many people may wonder how it can be profitable to rent a property in the conditions of such a high rate of sale of objects, which continues to grow today.

The fact is that there are more and more tenants every year, and the demand for both short-term and long-term rentals is growing. Housing is popular with emigrants who come to work here (they are both workers who do not have qualifications, and highly qualified specialists with education and various diplomas – doctors, engineers, and so on), as well as with tourists. Objects are well sold to investors who buy them for resale.

In some countries, foreign citizens cannot buy real estate and register it as property, because they do not have such a right. In such states, investors use the help of local citizens (friends) or start companies to buy housing.

In the UAE, such tricks are not necessary, because foreigners have the right to buy local real estate.

Many still do not know that in the country you can buy an object in full ownership with full rights to dispose of it as you wish. For example, you can find tenants and rent the property out, or you can resell it and make a profit, pass it on by inheritance or give it away, and so on.

In short, it is unnecessary to rent a room for 99 years (previously it was the only option for foreigners, but now there are alternatives).

However, you can buy it in specially designated areas – freehold territories.

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

Such territories include almost the entire "new Dubai", including such popular neighborhoods as:

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

To register an apartment for yourself, a representative of another country only needs to show your passport.

It is better to buy a house with the help of a real estate agency. Local agents (if we are not talking about the sale of the object by the construction company itself) participate in all transactions, without them no agreement is signed, because it is better to entrust this work to people who know their business very well. According to local law, realtors are responsible for the results of all transactions.

ABOUT THE WEATHER AND WHY IT IS MORE PROFITABLE TO BUY APARTMENTS IN SUMMER THAN AT ANY OTHER TIME OF THE YEAR

Almost 365 days a year are sunny in the country, but this does not mean that the heat has been reigning here forever.

Those who have been to Dubai in autumn, winter and spring know that these seasons have quite comfortable air and sea temperatures.

The heat here is only in the summer, for which the elderly, as well as people with cardiovascular diseases, leave the city or country.

The summer temperature is mainly kept on the thermometer from +40 degrees Celsius.

But in cooler seasons, the average temperature does not exceed +25°C. In autumn and spring, the air temperature is also quite comfortable, so it is at this time that tourists come here. The water in the sea here is not below +25 degrees. You can swim not only in summer, but also in autumn, spring and even in winter.

In summer, you do not need to be afraid of the +40-degree mark, because the authorities thought about the comfort of local and visitors: so, air conditioners are installed everywhere in the city, literally on every square meter. They are even equipped with covered bus stops, so in summer the local heat can be terrible only in theory, and in reality you do not felt it.

Despite this, due to the heat, there are advantages for investors. It is due to the fact that many people leave the metropolis or the country for at least three months, the prices of local real estate at this time fall, because the demand is reduced in the summer.

However, there will always be people who want to rent your home.

90% of emigrants live in Dubai (the local population is only 10%). Expatriates work here and, of course, rent housing, bringing income to the property owners.

In the metropolis, life is in full swing, not only for travelers and migrant workers, but also for entrepreneurs.

The city is located at the intersection of air and sea trade routes from Asia, Africa and Europe.

Dubai is even called the largest center of business activity in the entire Middle East. Because there are 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 this conclusion: businessmen who come for a while or move here, also become potential buyers of housing. Moreover, they buy property of different levels. Beginners either rent or buy budget options, and more wealthy entrepreneurs prefer luxury apartments. So, houses of various types and values, both rented and for sale, are used here.

Why it is profitable to buy real estate in Dubai in the summer

AND MORE ABOUT THE CITY OF THE FUTURE

According to people who have seen a lot, who have been in different countries and who, it would seem, are no longer surprised by anything, today the metropolis is the "city of the future".

The most amazing thing is how quickly a modern city appeared on the site of the desert sands, where there is everything: a developed network of highways, office shopping centers where you can go skiing, water parks, ice arenas and even the metro of the future.

Sports competitions are constantly held here, where people come from different parts of the world, as well as exhibitions of a planetary scale. In addition, world celebrities hold concerts here.

According to representatives of the organization MasterCard, the city regularly becomes one of the most visited localities in the world, often bypassing the Spanish Barcelona, Rome and even New York.

WE WILL HELP YOU BUY A VILLA OR APARTMENT IN DUBAI

Employees of the website aggregator Emirates.Estate, as well as our partners, help citizens of different countries find the necessary premises for living and doing business, talk to sellers, negotiate discounts, make purchase agreements – conduct all significant stages of the purchase and sale transaction. The staff of the web portal is happy to help you. Start today to pick up the room. The search on the Internet portal is designed in such a way that investors can easily find housing, a commercial object, a land plot. Contact the specialists of the Internet aggregator via the feedback form or by calling the phone number on the website, if you have any questions. For more information, you can go to https://emirates.estate.

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