7 Big Benefits Of A Freehold Property In Dubai
Complete Ownership
By buying a freehold property, you are the complete owner; whether your property is a residential or commercial unit, you have complete control over your property. You will be your only property owner after buying freehold property in Dubai.
This means your rights are reserved, and no one can intervene with your property. If you have a partner, then you and your partner are now, owners of your property by law. If you own a villa or a 1-2 story building, then you own the land, too, on which property is built. Enjoy the ownership of the property as the sole entity with rights on that property.
Control
As a sole owner, freehold property in Dubai allows you to do anything over your property as you are the rightful owner. An individual who owns the property has complete control of that specific property. This allows you to make changes and undergo any renovation of the property according to your will.
No other party has any right to stop changing your property if you are not breaking any law. As a complete owner, you will decide who will come on your property and whom not to allow. Allowance, customization, and other factors are part of 'Control' over your property.
Inheritance
If you own a leased property is impossible to transfer the ownership to your son/daughter even if you have paid the complete amount for that property. By owning freehold property, you can share ownership with your son or daughter, even with others.
Also, having a freehold property will allow you to even distribute your property according to your will by writing a will paper. This allows you to divide your property between your multiple children or other people involved. Freehold property in Dubai will allow your generations to own that property if the next generation is fit to own property.
Flexibility
Having a freehold property does not bind you to any terms and conditions given by the developer or any other third party. As the rightful owner, you can do anything in your area, but this does not allow law and order to be disobeyed.
You can control your ownership duration, ownership rights, and land ownership; these factors are much more critical while buying property as this also allows you to be free from developer fraud. No lease agreement is required with any third party after owning the property.
Visa Advantage
If you are an outsider in Dubai, then you are either allowed to stay in the country with a residential visa, educational visa, or other visa related to your work. Of all these visas, residential is the only one that will allow you to stay longer in Dubai.
For extending a residential visa, one must own a freehold property; this will enable you and your family to stay in Dubai.
For instance, if you are moving to Dubai with your family, then you may get permanent citizenship too because of owning a property in Dubai, which makes you a rightful owner in Dubai. This is a massive advantage if you plan to settle permanently in Dubai.
Tax-free Environment
The whole world knows how the tax system of Dubai works. This is a huge advantage you will get by investing in Dubai. You are getting minimum taxes on your property and your accommodations. For freehold property, there are no taxes to be applied.
This advantage allows investors and buyers to save much money on their investments. With no taxes, you can invest that money into something beneficial for you and your property. Chances to invest more in Dubai are multiple. Such a tax-free environment allows investors to work more proficiently.
Property Appreciation
With freehold property in Dubai, you will get 10-12% returns on your property in Dubai. Investment in freehold property assures investment for anyone as the value of these properties increases. In Dubai, the value of an owned property is immersed because this will allow the owner to get better returns on the overall valuation of the property.
A disadvantage of owning a freehold property is the depreciation of the rare property in Dubai. Dubai has much fewer chances of property depreciation because of the city's constant development, which increases the property price.