Purchasing residential or commercial land in Dubai has been a frequently discussed topic, especially among property investors who actively analyze multiple overseas regions for property investments. And if you are also one of them but feel confused about the final decision, don’t worry.
Here in this piece of writing, you will come to know about the top 9 things that every investor must know before buying apartments in Dubai. Have a look!
Location! Location! Location!
Location is a prime factor that makes or breaks the entire deal while investing in a property. And if we are talking about Dubai, how can we forget about the “Burj Khalifa”, the world’s most prime location. There are some other famous places like Dubai Creek, Healthcare City, MBR City, etc. It is good to check all available properties for sale at these locations.
Getting complete information about the property’s actual condition is essential before making any investment of your hard-earned money. So it is suggested to get an inspection report of the property that helps you know about the desired property in a detailed manner.
Dubai is a growing city that recently gained popularity because of its amazingly designed infrastructure. All buildings in Dubai are brand new. If we look at the oldest building of this beautiful city, it is hardly 15 years old, which clearly shows it is a new hub of property investors.
Suppose you have already invested in foreign properties. In that case, you can find Dubai very affordable compared to the other parts of the globe such as Canada, Singapore, Hong Kong, etc. You can also evaluate the property price in Dubai by looking at the same kind of property in the nearby locations to make a comparison.
As we all know, in the past decades, the Dubai real estate market only runs in cash. But at present, the scenario has completely changed. There is incredible growth in the number of finance buyers in the UAE. Moreover, there are several financing options available for the ease of investors.
- Home Loan for UAE Nationals.
- Home Loan for UAE Residents.
- Home Loan for UAE Non-Resident.
You can check all of these financing options before proceeding to the final decision.
Being the world’s top business hub, Dubai invites professionals from other parts of the globe to work with them. As a result, the population of Dubai is increasing rapidly, and 88% of them are expatriates. That means you will get great exposure to meet several nationalities by investing in one place.
Current Market Trends
It is good to take a closer look at the current market trends. It helps a lot to get full-fledged information about the past market situation and the growth of the real estate market in Dubai. But the question is how to analyze the present real estate market situation?
- Get Quarterly Selling Cost Comparison
- Historical Rental Graphs
- Current asking price/ rental trends, etc
Well, purchasing property in Dubai includes several types of costs such as:
- Purchasing Cost
- Registration Fee
- Valuation Fee
- Loan Processing Fee
- Mortgage Registration Fee
- Trustee Fee
- Brokerage/ Realtor Fee
- Service/ Maintenance Fee
- DEWA Registration
- Property Management Fee, and
- Home Insurance
It is recommended to go through all the above-listed types of costs in detail before purchasing apartments and villas in Dubai.
Society or Neighbourhood
A good property investment only proves fruitful when you find a decent or supportive neighbourhood. And while looking for the apartments for sale available in Azizi Mina, you hardly find any difficulty establishing a good relationship with your neighbourhood. As people over there are very polite.
I hope that this article proves beneficial for you about your investment decision in Dubai.