What is attractive about real estate in Dubai and why is it worth investing in real estate in this emirate? Let’s look at it in this article.
Dubai is the city of the future. It is one of the generally recognized centers of world tourism and business. Excellent transport accessibility, transparent legislation, modern infrastructure, economic and political stability, and loyalty of the Dubya authorities to investors make the region an ideal and unique local place for doing business. Tourists in the United Arab Emirates are attracted by:
- the highest level of development;
- world famous attractions;
- the most comfortable conditions for relaxation.
All these components make Emirates real estate, which you can see at https://dubai.etagi.com/en-us/realty/odnokomnatnye-kvartiry/, very attractive for investors.
Why else is it worth investing in Dubai real estate?
- In 2019, the Emirates government launched a “golden visa” program, in other words, a residence permit for investing in real estate in the UAE.
- There are no taxes on residential property, on income from rental property and on the transfer of property.
- A large number of options – affordable real estate, luxury apartments in apart-hotels and residences, villas on the seashore, etc.
- Residential property prices in Dubai start from $150,000.
Features of real estate in Dubai
A citizen of any country can buy real estate in Dubai (residential and commercial). In order to conclude a purchase and sale agreement, it is not at all necessary to have a temporary residence permit.
There is a list of procedures that are the same for all investors. In addition, the following payments are required to complete the transaction:
- payment to DLD (Dubai Land Department);
- payment for registration of property rights;
- payment for agency services.
In total, the cost of buying or selling real estate in Dubai is no more than 4 percent of the cost of the property. The buyer has the right not only to independently conclude a purchase and sale agreement with the developer (in this case, the commission will be 0 percent), but also a representative can act on his behalf.
How to choose real estate in Dubai?
Of course, the choice will depend on the purposes of purchasing real estate in Dubai:
- purchasing property in Dubai for living, renting or holiday;
- purchase of commercial real estate in Dubai for doing business (industrial, warehouse, retail and office premises).
You can buy real estate in Dubai on the primary market (finished and under construction projects) and on the secondary market. Off-plan real estate transactions (construction in progress) must also be registered in DLD. If the purchase and sale agreement is concluded with the developer by the developer himself or by an agency authorized by him, then no commission is charged to the buyer.
The Dubai property market is very diverse and very well developed, but it is very difficult for an inexperienced investor to figure it out on their own. The help of an experienced specialist guarantees an adequate cost of the property and proper execution of the purchase and sale transaction. The cost in the residential and commercial real estate market depends on the development and location of the area’s infrastructure. The cost of land in different areas of Dubai is very different, and the price of real estate in Dubai is directly related to it.