The aspiration of people buying a real-estate in Dubai can have many fascinating reasons for instance the stunning infrastructure, the safest environment, high standard of living, better career opportunities, with no taxes.
And for the concerns of the family are children education, women’s safety, better job opportunities, countries rules and regulations and political condition which is far more better from most of the countries. Buying a house Dubai also gives a sense of high social status and technology advancement at low and affordable cost compare to other countries.
1. High Return On Investment – Investment of buying a house in Dubai gives a high future return for renting and for resale it gives high profit.
2. Stunning Infrastructure – The infrastructure is Important for faster economic growth and Dubai has a world class infrastructure which facilitates the physical mobility of people and product and reduce the cost.
3. Tax Free Investment- Dubai is a tax-free country there is no tax on personal income generated and no sales tax on most of goods and services that is why people are prone to invest in UAE. Dubai also does not impose taxes on real-estate when buying or selling only the transfer fee you pay that is also split equally between purchaser and seller.
4. High Standard Of Living- UAE offers a diverse and exceptional lifestyle. The beach faces villas, huge apartments, and glamorous life. The beauty and luxury of country can be seen at every end of the country’s. UAE has everything that a person wished for.
5. Safest Country With Low Crime Rates – The United Arab Emirates has been ranked the second safest country by the world economic forum. The safety and security of women and children is the top most priority for the family while purchasing a house. And Dubai is the most safest place to live in with low crime rates. Women can boldly travel even at nights.
6. Persistent Development And Innovation – With the continuous advancement of technology in Dubai is developing constantly in every aspect like- decent health care system, breathtaking infrastructure, good salaried employees, education, transport, likewise.
7. Better Career Opportunities – With the diverse sector and industries available UAE offers the best career opportunities to learn, earn and grow. Opportunities exists all over this diverse country but most of the jobs are found in Abu Dhabi and Dubai.
8. Economic Stability – The economy of Dubai represents a per capita Gross Domestic Product.
Dubai has focussed it’s economy on tourism by building hotels and developing real-estate also increasing developing as a hub for service industries such as IT and Finance.
According to sources on Google in 2022 the Dubai Government passed laws allowing freehold property ownership in Dubai for foreigners. Which also proved a turning point for the real-estate market of the city.
Foreign ownership rules in real estate are permitted in areas designated as freehold. Foreigners ( who don’t live in the UAE ) and expatriate residents may acquire freehold ownership rights or leased rights for up to 99 years.
a) Ownership – Foreigners are granted ownership deeds of residential units for a period of 99 years. This allows an individual to enjoy the full ownership of property in perpetuity (forever).
b) Freehold Property- For the expats purchasing property in Dubai has become easier than ever. Most foreigners depict their interest in freehold property. As it allows an individual to live, rented, sold and inheried.
a) Ownership – Foreigners are granted ownership deeds of residential units for a period of 99 years. This allows an individual to enjoy the full ownership of property in perpetuity (forever).
b) Freehold Property- For the expats purchasing property in Dubai has become easier than ever. Most foreigners depict their interest in freehold property. As it allows an individual to live, rented, sold and inheried.
a) Location- Prior investing inf any property in Dubai location is one of the important factor to be considered. Those who want to buy the luxury apartment or property should find out the best location for future gain or value.
b) Time Period – This is also essential to know for how much time you will remain in Dubai . Whai’s your long / short term plans. Your residential visa etc.
This is just to give you an idea of all the fees associated with purchasing a house in Dubai.
a) Fees for NOC (no objection certificate) – The NOC fees ranges from AED 5000 – 5000 depending on the property developer.
b) Transfer Fees – The Dubai Land Development charges 4% of transfer fees plus knowledge fees range between AED 430 - 580.
c) Commission Of The Real Estate Agent – The broker’s or real estate charges 2% of the selling price.
d) Registration Fees - AED 4000 uf selling price is more the 500000.
And if you are planning to pruchase a property on mortgage, it is important to throughly.Read and understand all the terms and conditions available for expats to mortgage loan.
