Things to know about buying property in Dubai
Last Updated on November 13, 2022 by hassan abbas
Dubai is an international city that is very attractive to investors. The city’s government is making it easier to invest in the city. All types of properties are available for investment as this market is becoming bigger and bigger every day. The future of this city is bright and profit in the property is promising. Now since the city government decided to allow foreigners to invest in properties in Dubai. Many laws are changed and new policies are made that help in getting more investment from foreigners. The rapid increase in business is surely due to smart policies by the government.
Dubai has hundreds of properties that are available for future investments. These properties include luxurious villas such as Forest Villas, apartments and single-family homes etc. So a large number of properties are available and hence finding the property that suits your needs gets easy here.
Most overseas investors are interested in buying a property that is a high return and high income. The types of properties are given below to help you choose the best suited for you. Investors can decide about the type of property depending on their needs. From a residential point of view here are some properties available.
Some properties are less developed and available for overseas or any foreigner in the world. Foreigners are attracted towards these areas because they can make this property into any project they want. So they can make changes or make the whole house or building according to their needs. So people love to buy such property especially western people because they can make their houses according to their cultural needs also. Certain areas in the city are designated as freehold areas where anyone can invest.
The expats were not allowed to get property in the city but now rules have changed by the recent government of the city and people who belong to the city of Dubai and are living away are allowed to purchase property under some rules.
The other type of property includes villas and community areas. You should know about this because this will help your best investment.
There are three types of property location-wise. Prime, Central and not central
Prime locations include areas which are downtown, Dubai Marina, and Palm Jumeirah. Central include areas like creek harbour.
Not-so-central areas are JVC, Arjan and Sports City.
If you decide to invest in the prime areas you should consider the point here. The prices of these areas are almost 100% high these days. So you will have to pay a huge amount as a premium. While if you go towards the areas which are not at a central location, you won’t have to pay huge premium amounts. The reason behind this is the infrastructure is the same all around Dubai, so these areas also have schools hospitals and other facilities and these areas will become central or prime areas shortly. So spending money wisely can give you huge profit. But you have to take the risk.
Apart from this if you ara interested to know more about buying a property then visit our Real Estate category