When you look at Dubai from an investment eye, you are going to experience the prime real estate that has all types of properties that include luxurious ones, residences which will be provided for sale. Nowadays the changed rules and regulations by the Dubai government made it easy for the foreigners also to make an investment in the Dubai city. A lot of benefits awaits those who plan to buy a house in Dubai as it helps for an unparalleled return of investment. There are a lot of properties that await you in the Dubai city for your future investment. It includes apartments, villas, condominiums, single family property etc. Let’s move further to know the factors to consider before investing in the Dubai real estate and how business consultants help buy property in the UAE.
What are the factors to know before you invest for a property in Dubai?
While you are considering the factors to know before investing in a property in Dubai, location is the most important one. It is quite advisable to research about the best places in Dubai for a lifetime investment. Choose locations in Dubai for investment that is associated with the high quality lifestyle. Hence it is important to buy a place which is beneficial too in the long term. But looking for such a place can be time consuming especially if you are new to Dubai. However Centriz helps in finding a location in an ideal spot which can provide you a long term investment to the foreign investors.
- Market Statistics Analyzing
Choosing a specific location from a plethora of highly tempting choices is quite challenging. In order to obtain a high return of investment, it is mandatory to research market statistics, current trends, financial investments patterns etc. Get more benefits from the UAE real estate market by investing in the newer projects in Dubai.
- Tenure of Presence in UAE
Have you thought about an approximate tenure for which you will be in the UAE? If not, plan for it before you invest in Dubai’s real estate market. This is important as it helps you understand the total market value. But if you are unsure about the tenure in the UAE, it is better not to plan for a long term in the UAE. Renting a property would be an ideal choice.
Before purchasing a real estate property, it is important to check for the affordability. The housing expenses in a month should not be more than 25% of their total income. And the budget should be enough for the upfront fees too. This can be approximately 9% of the overall purchase of the required property. An owner of the real estate property in Dubai must also be aware of the annual service charges, maintenance fees and so on. Presently, due to the pandemic situation all over the world, the property prices are very low and thus the real estate market has become a buyer’s place. Thus this is an ideal time for the investors who are looking for the properties to invest in Dubai.
- Monetary gains
Are you trying to rent out the property in Dubai? If so, you must know the monetary gains you will obtain from the property. This helps in analyzing the rental income that covers your repayment, maintenance expenses and mortgage etc. usually, investors get a gross yield between 6% and 9%.
- Residence Visa
If the real estate properties have the value above 1 million AED or above in the UAE, then you can obtain residency visa and will be subjected to certain guidelines. There are two visas available in the UAE, one is a six month visa type with multi entry chances and the other is a two year visa for staying. Property owners can sponsor visas for their families. If a property has a minimum value of AED 5 million, with no loans attached to it and retained at minimum 36 months can help the foreigners to obtain the residency visa of 5 years or more. It also depends on the specific eligibility conditions too.