Many people are looking for new opportunities at different stages of their lives in order to achieve different goals. Where many people leave their home country and move to other cities and countries, and among these cities is the Emirate of Dubai in the United Arab Emirates. Dubai is one of the best real estate investment cities that suit individuals and families alike at the local, regional and international levels. The emirate provides a variety of service and recreational facilities that meet the various needs of the population.
Therefore, many people want to move and settle in Dubai, which leads them to buy real estate of all kinds.
In this article. we will present an overview of the process of buying new homes in Dubai for foreigners in installments. Including the legal procedures, steps, conditions, and basic matters that must be considered. Given that we at Damac Properties care about everything related to the real estate market. Dear reader, to know more types of real estate in Dubai
When thinking about the process of buying a property in Dubai, one may find the available options a bit complicated, as Dubai offers a variety of types of properties that can be used in different ways and that have different laws regarding how to search for and register them with the Dubai Land Department. In this section, we present a range of property types in Dubai to help you discover the advantages of buying a property in Dubai in the United Arab Emirates.
Types of real estate in Dubai:
Residential Real Estate:
It is one of the most abundant species in the United Arab Emirates in general and the Emirate of Dubai in particular. Many people want to buy apartments in Dubai when they move to Dubai. Residential properties such as apartments and villas can make a huge profit for investors in Dubai by selling them one by one or renting them to residents and obtaining an annual or monthly fee according to the prior agreement between the landlord and the tenant.
It is also worth mentioning the availability of residential land in Dubai, which is only available for building residential properties and it is not suitable for any other type of property to be built on it such as commercial properties.
Commercial Real Estate:
It is one of the types of real estate that is rented or sold to freelancers, where they can take advantage of commercial spaces in order to establish stores and shops and sell various things and needs of the residents.
Commercial real estate can also be office space suitable for setting up various types of companies in the Emirate of Dubai. Similar to residential properties in Dubai.
As we explained, real estate in Dubai is divided into residential and commercial properties, and we advise you to take into account the location of the property you want to buy, think about it carefully, and know everything related to it
Pros and cons of owning a property in Dubai:
Many people want to move to Dubai because of the new and wonderful opportunities it provides for both individuals and families, as many people are looking for a lifestyle characterized by luxury and safety and distinctive properties for investment or to live in. Here are some of the positive and negative points about owning a property in Dubai to help you make an informed decision that suits you and matches your expectations. Examine your options fully and properly.
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Pros of owning a property in Dubai:
Life in Dubai is one of the most wonderful and enjoyable experiences, as the UAE in general and Dubai in particular, have introduced many important changes that make many people want to move to the emirate. Dubai is a popular and modern destination that provides residents with the possibility to enjoy a high quality of social and business life.
The Dubai government has worked to facilitate entry to the emirate and to provide various services that help residents to work and develop themselves. The government also provides many facilities, such as no income tax, which allows people to make more money away from lengthy government procedures.
The climate of the United Arab Emirates, especially Dubai, is moderate over 8 months of the year. Not to mention the seawater, which is warm most of the time. Many residents spend their time with family at the wonderful beaches after a long day of work.
The emirate includes many luxury tourist attractions. Such as the Burj Khalifa, which is the tallest tower in the world, and the Dubai Dancing Fountain. which is taken care of to the fullest, which enhances the tourism and business sectors in Dubai, not to mention a large number of areas suitable for families because of the services it provides that meet various families’ needs.
In addition, a large number of major companies are based in Dubai. Which provides great opportunities for job seekers in Dubai. Several other areas in Dubai also provide ideal business opportunities thanks to famous business centers located in close proximity to residential areas. Such as the Dubai Financial Center and Dubai World Trade Center among others.
Dubai offers:
Its residents a variety of advanced services that cater to all age groups and interests, from the best international universities to the best schools, nurseries, sports clubs, shopping malls, and public parks, not to mention the abundant and low-priced public transportation thanks to the emirate’s steady economy and abundant oil in the country.
The emirate includes branches of international universities such as the American University and the German University. Providing easy access to various parts of the world from Dubai, which increases the importance of the emirate among the world’s cities in many important sectors that contribute to promoting prosperity and strengthening the economy.
Affordable Luxury Real estate:
There are wonderful and luxurious properties in the Emirate of Dubai that feature beautiful sea views. Such as those in Dubai Marina or Palm Jumeirah, and they include villas, townhouses, penthouses, apartments in skyscrapers.
Residential properties are often either partially or fully serviced and have utility facilities such as gymnasiums, saunas, green spaces, and swimming pools.
Compared to similar properties in other countries of the world such as New York, Hong Kong, and London, the prices of luxury properties in Dubai are very reasonable. The prices of apartments in Dubai Marina start from 500 thousand dirhams, while the prices of apartments in Palm Jumeirah start from 614 thousand dirhams.
Continuous development:
The United Arab Emirates in general and the Emirate of Dubai. . Including the real estate sector. Therefore, Dubai has many real estate projects that are still under construction. which may suit investors who are looking to buy a property in progress at low prices and high standards.
Stability And Security:
The UAE and Dubai are among the safest places to live in the world, as the government provides smart services to maintain security and report crimes, in addition to the country’s success in effectively implementing laws in all regions and at all times.
Things to consider before owning a property in Dubai:
While Dubai is an ideal destination for living and investing, we invite anyone considering the possibility of buying a property in Dubai to take a few things into consideration.
One of the tips about fees for buying a property in Dubai that we give to everyone who wants to buy a property in Dubai is to be aware that you may incur additional costs when seeking to own a property in Dubai. Those who buy a property directly from the developer may have to pay additional fees submitted to the Land Department amounting to 4% of the value of the property in addition to other administrative fees. Also, investors who obtain a mortgage must register this mortgage with the Land Department and pay a fee of 0.25% of the mortgage value