Dubai Real Estate is One of the Promising Directions for Investing in the UAE Economy
According to real estate agency AX Capital, Dubai’s real estate sector has become one of the most popular investment destinations in the world over the past few years. The reason for this was several factors, the main of which are the flexibility of the market, a wide range of objects and prices, as well as the favorable economic conditions of the country. About other attractive aspects of the sector later in the article.
Apartments in Emaar South for sale are one of the potentially profitable investment projects from the largest developer in the UAE. Emaar Properties presents finished projects in Dubai, actively building up the bay’s coast.
Mortgage and off-plan
Importantly, properties for sale in Dubai can be mortgaged with up to 80% coverage.
Developers also often meet the needs of clients’ needs, implement off-plan projects in Dubai in installments, and allow payment in stages as the project is ready.
Benefits of off-plan deals:
- reasons for off-plan profitability:
- relatively low cost compared to ready-made objects;
- a wide range of offers from reputable developers of the emirate;
- stable demand for rent and purchase;
- high yield and fast return on investment.
Apartments and villas for sale in Dubai are suitable for renting out. This is one of the most convenient ways to generate income, as the emirate offers an ROI ranging from 5-8.4%, depending on the area and type of property.
This option requires time to find tenants, the subsequent maintenance of the apartment, checks at the entrance and exit, and other obligations. Management companies, whose services are covered by part of the rental funds, will help to facilitate the task.
Resident visa for investment
Remember the possibility of obtaining a resident visa to invest in Dubai’s real estate. Through the program, you can become the owner of a long-term visa to purchase ready-made housing for 750 thousand dirhams (204,195 US dollars). The visa, in this case, is valid for 3 years. It also applies to the immediate family members of the buyer (children and spouse). If you are interested in long-term residence, buying flats in Dubai will be a great help for moving and further residence in the UAE.
The procedure for purchasing apartments in Dubai for foreigners
Many advantages, interactivity, opportunities, and great potential for the country’s development inspire you to contact a Dubai real estate agency and buy a home. First, you need to decide on the type of apartment, save money, and opt for a reliable, trustworthy company. The process of paperwork implies that the future owner of the house needs:
- sign a sale and purchase agreement;
- give the seller 5 to 25% of the total housing price as a deposit. The percentage is negotiated individually, depending on the type of property;
- sign a contract for the maintenance of the apartment;
- become the owner of the property right, having previously passed the registration procedure.
How risky is it to buy property in the UAE?
Before becoming the owner of an apartment in the UAE, the future owner should learn about some of the nuances and subtleties that will help secure him in the future and eliminate all reasons for unrest:
- The United Arab Emirates exercises strict control over sales transactions, so bona fide real estate agencies protect the interests of every participant.
- The state has a large number of zones of free possession (namely, 66), where a foreign citizen can become the full owner of the purchased housing;
- Due to the easing of measures against Covid-19, and a steady increase in interest from tourists and investors, the housing sector received a huge influx of new interested stakeholders, due to which the profitability of properties jumped.
- No hidden fees and no need to pay extra for temporary services.
Thus, today apartments in Dubai are available to everyone. This is an excellent investment in the future, which guarantees that all participants in the transaction will benefit. Sellers, buyers, tenants, and landlords.
Property in Dubai
Dubai has become one of the most popular investment destinations in the world over the past few years. The reason for this was several factors, the main of which are the flexibility of the market, a wide range of objects and prices, as well as the favorable economic conditions of the country.
AX CAPITAL real estate agency in Dubai organizes the search and purchase of an apartment and other luxury housing in the emirate on favorable terms for you. In the process, specialists analyze an extensive database of objects and select relevant ones in terms of price, configuration, and location. Detailed advice on issues of interest can be obtained on the website.