The Dubai real estate market is one of the fastest growing in the world. The emirate attracts investors, entrepreneurs and individuals due to its high standard of living, stable economy and unique architecture.
However, before buying a home or commercial property, it is important to consider a number of factors that will help you make the right choice. Luxury apartments for sale in Dubai can be found online today, simply by paying attention to the offers of proven, trusted portals.
What to consider when buying real estate in Dubai?
The first thing you should start with is a clear definition of the purpose of purchasing real estate. For some, this may be an investment for the purpose of further resale or renting out, for others – moving and living. Depending on this, the approach to choosing a district, type of property and budget will differ.
Dubai offers a wide range of real estate:
- cozy studios in skyscrapers;
- luxury villas with private access to the sea;
- apartments of different layouts;
- private houses, etc.
Those who want to live in the center of events should pay attention to the areas of Downtown Dubai or Business Bay. Famous landmarks, prestigious offices and shopping centers are located here, but the prices correspond to the premium class. For a more calm and measured life, the areas of Jumeirah, Arabian Ranches or Dubai Hills Estate are suitable, where comfort, greenery and convenient infrastructure are combined.
The stage of readiness of the property also plays an important role. Some buyers prefer to purchase real estate at the excavation stage, since the cost during this period is lower. However, such a transaction carries certain risks associated with possible delays in construction. An alternative is to buy a finished property that can be used immediately or generate income.
Legal factors
It is important to consider legal factors. Despite the simple and clear system of registering transactions, a potential buyer must carefully check the documents, including land rights and compliance of the property with current legislation. If necessary, it is better to use the services of a licensed realtor or lawyer familiar with the UAE market. In addition, when choosing real estate in Dubai, it is worth considering the costs of maintenance – utilities, fees of service companies, tax liabilities if there is rental income. Although there is no personal income tax in the UAE, regular payments for maintenance can significantly affect the profitability of the investment.