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Why not buy an unplanned property in Dubai? — you will think about it and you will definitely be right. The United Arab Emirates is attractive for business and investment, and Dubai rightfully occupies a leading position among other regions.
Why? The specialists of the real estate company NR Luxury Properties have long studied the UAE construction market and are ready to share their experience with the readers of this article.
Why is investing in Luxury Property Dubai profitable?
At the top of the list of Dubai's attractiveness for investing in real estate is the stable economic situation in the UAE. You must agree that the availability of free economic zones, a good geographical location with deep-water ports, oil production and other important economic aspects make the United Arab Emirates a stable figure in the international economic market.
To put it more simply in the context of Dubai, we can highlight the key advantages:
- The demand for expensive residential and commercial real estate is constantly growing.
- The high level of wages in the emirate guarantees the demand for rental housing with high prices.
- A large number of tourists and businessmen constantly come to Dubai, so you can profitably rent out real estate for short-term rentals.
The steady increase in the value of Luxury Property Dubai allows you to resell a villa or apartment purchased today at a higher cost.
That is, buying an investment property in Dubai is comparable to a profitable business. You can choose to invest passively or actively, purchase a small studio for long-term rental, or buy a building to run a large rental business. The most profitable direction is considered to be the purchase of unplanned real estate.
Unplanned real estate in Dubai: yes or no?
Off-plan housing and commercial buildings are properties that have not yet been built or commissioned. In the context of investments, it means the purchase of real estate at an early stage of construction. There are quite a few obvious advantages here:
- Low price — at the initial stage of construction, the object has a lower cost than after commissioning.
- The customer can count on the implementation of individual solutions — from the choice of layout to the placement of lamps.
- A wide range of options — at the last stage of construction, the most unclaimed objects remain, very expensive, with an inconvenient layout.
By the way, there is another key advantage that investors will definitely appreciate. Given the rising prices for Luxury Property Dubai, you will be able to resell an apartment, villa or house immediately after completion of construction. Naturally, the resale will be profitable, since the initial investments were minimal.
Features of investing
It is worth noting that when buying off-plan real estate in the UAE, you need to know the specifics of the market, understand the legal subtleties and other important points. A home purchase transaction must comply with the current legislation of the emirate.
Are you ready to study the market, law, and tax law of Dubai on your own? Obviously, you should seek help from professional realtors, and the services of NR Luxury Properties will be relevant here.
So, the most interesting feature of buying real estate in Dubai relates to the right of ownership of housing. We are talking about foreign investors who are concerned about the form of ownership of the purchased object. We clarify: non-residents of the UAE can buy real estate in Dubai only in special territorial zones. This is a Freehold — a zoned area or a so-called ownership zone for foreigners.
Do not rush to be upset and offended — this rule is not as harsh as it seems at first glance. There are 47 Freehold territories in Dubai. And all of them give the right to purchase real estate with full ownership. That is, it is a familiar full-fledged property that can be given, sold, and left to descendants as an inheritance. All these zones are located in economically attractive places — in the city center, on the coast.
Accordingly, real estate in these places is in demand for tenants and profitable for landlords. By the way, buying a home anywhere in Dubai is available only to citizens of the UAE and the GCC — the Gulf Cooperation Council. Other foreigners are equal in their rights and can choose Luxury Property Dubai in the most prestigious areas at an attractive price.
Stages of buying Luxury Property Dubai
One of the important stages of buying investment housing in Dubai is to find qualified realtors. NR Luxury Properties accompanies transactions at every stage — from the selection of a suitable object to the acceptance of a finished built house.
Stages of buying investment housing in Dubai:
- Independent prioritization — you decide what exactly you want to buy.
- Search for a realtor and register a cooperation.
- Choosing and reserving the property you like.
- Making payments according to the schedule that is present in the booking agreement when making the first reserve amount.
- Conclusion of a purchase and sale agreement.
- Acceptance of the finished object that you bought at the construction stage.
Initially, a potential buyer is considering his decision about investing. At this stage, you need to determine the estimated budget, take into account possible additional costs. That is, leave a reserve of money and carefully calculate the planned payments.
The type of property and the desired location are also taken into account. Do you want a studio in Dubai Marina or Kempinski Residences the Creek or would you prefer to invest in a townhouse near the park area? Inform the realtors of NR Luxury Properties about your wishes and choose interesting profitable properties from well-known developers.
The following stages are accompanied by a realtor. You will receive recommendations and tips on booking the apartments you like, and you will learn payment methods according to the schedule. The transaction takes place in accordance with UAE law — the parties sign a purchase and sale agreement and the buyer accepts the finished object.
A quick deal accompanied by experienced realtors
Obviously, the independent purchase of Luxury Property Dubai has certain difficulties. The help of qualified realtors is indispensable for foreign investors, as it avoids additional costs, eliminates the risks of buying low-quality or unprofitable housing. NR Luxury Properties is well aware of the situation in the UAE real estate market and cooperates only with well-known developers. Contact the experts and become the owner of a prestigious real estate in Dubai.
