Now is a suitable moment to purchase Dubai real estate: short of prices and applicable reformations have made arab market of Dubai favored for investors and buyers. Compelling conditions and sustainability are among the core factors driving more and more investors to the UAE. S&P Global Ratings reports that popular property in Dubai is rapidly falling in price. In some parts of the city, prices per sq.m. approached 2010 values. Demand and prices are expected to continue to decline, fueled by inflation and a lack of incentives for outside investors to acquire Arab real estate in Dubai. Property sector has reacted particularly sharply to the outflow of investors from Asia who are strategically important activators of the Emirates economy.
Property for sale in Dubai
Currently, Dubai is especially popular with investors due to the fact that it is here that numerous tourists from all over the world arrive every day in order to plunge into unlimited shopping or visit local attractions.
Investment infusion in Dubai real estate has a high prospective to get the maximum income from investment, since real estate and commercial general-purpose areas in this fashionably desired city among expats and travelers are very economically advantageous.
Today’s Dubai is the point where businessmen interests from any spot of the Earth converge. Events of different business segments - from small to large - are being hold in this city.
The Expo Dubai exhibition has been postponed to 2021, which is already motivating investors in real estate to come from different countries, because they know that this event cannot but affect the residential market and will make their property to be high-quality liquid asset for a long haul.
Property for rent in Dubai
Real estate for rent in the UAE is always in demand. This is not surprising, because one of the main resort areas in the world attracts hundreds of thousands of tourists all year round. There is always a need for villas and rooms for temporary rent in the place where there are tourists.
Dubai is going to build a record number of residential complexes
The present construction site should bring the UAE real estate market to a new socio-economic level. We are talking about 62,500 apartments for residence in Dubai, which will be built during 2020. Analysts note that in recent months there has been a tendency for the UAE housing market to emerge from the protracted crisis.
Construction companies in the Emirates want to complete the construction of the largest number of residential properties in the last ten years in 2021. However, no one can give guarantees that the construction will be completed on time. The report notes that the expansion of supply may put pressure on sales and rents due to the construction of new buildings. At the same time, additional residential real estate in Dubai can attract new investors who are confident in the prospects of the local market.
Why is Dubai property so attractive?
An increasing number of wealthy people prefer buying property in Dubai as a place of permanent residence and business. In addition to investing in real estate in Dubai, many of them are guided by promising projects for construction and sale of real estate in other regions of the UAE.
Geographical location and climatic conditions
Dubai is one of the world’s most popular tourist destination thanks to the warm weather and picturesque sandy beaches. Due to the high influx of vacationers and business tourists, the real estate sector is actively developing. In Dubai, the hotel real estate market demonstrates good results.
Quality of life
Dubai has developed infrastructure and high quality of life.
It shall be noted that expats move to Dubai not only for the sake of good living conditions, but also for the opportunity to develop professionally. The emirate is included in the rating of promising cities in the world for foreigners.
The United Arab Emirates is the most stable state in the Middle East, both socially and economically. According to the latest Dubai Social Study, 96% of the emirate’s population feels “protected”.
Property prices in Dubai are quite high. At the same time, all real estate objects in the emirates are rented out completely ready for living and further operation.
Most investors buy overseas property for rent. In case of properties in Dubai, this is indeed beneficial. About 80% of Dubai residents are representatives of other nationalities who came to the emirate to work. Therefore, the residential rental market is flourishing in this city.
Real estate legislation
The legal framework for real estate in the Emirates is transparent and simple. The Land Department has simplified the process of registering purchase and sale transactions as much as possible.
Cons of buying real estate in Dubai
- There is no “residence permit” in the emirates.
You can only live in the country for a certain period of time - up to 3 years.
A resident visa is issued for a legal stay. This visa in Dubai can be obtained by foreign citizens who have become the owners of real estate, but at the same time the value of the acquired object should not be less than 1 million dirhams - approximately 274 thousand US dollars.
- In addition to utility bills, the property owner is also required to pay an annual maintenance fee for the building where their property is located.
This annual fee ranges from AED 50 to AED 200 per sq. m. and includes a fee for using a parking space, building security and garbage collection.
- Dubai is a multinational metropolis, but do not forget that the UAE is a Muslim state. Naturally, this is reflected in all spheres of life, not only for indigenous people, but also for guests.
Emirates. Estate will help you make Dubai property investments
Emirates. Estate has been actively engaged in the real estate market transactions in Dubai. Our competency-based practice and approach accumulated professional knowledge base allows our specialists to offer clients favorable conditions, and promptly solve tasks of any complexity.
Cooperating with Emirates. Estate, you get the opportunity to receive a guaranteed annual return on investment in real estate in the UAE up to 10%. We offer free advice at a personal meeting, as well as through convenient instant messengers, or remote purchase of real estate in Dubai from a developer.