The Rules for Buying Properties and Ownership Rights
First try to understand the rules of the government for buying a property in Dubai. People who are from other countries can also own properties in some of the freehold areas in Dubai. These properties that are bought by the foreigners in freehold areas like Downtown Dubai, Dubai Marina, Palm Jumeirah, and more can have the right to own, sell, lease out, or even rent the properties. It is good to take advice from the brokers or professionals who are working in Dubai before buying a house in Dubai.
The Popularity Of The Developer
Knowing about the developer is very essential but you do not have to worry about this because Dubai has a lot of well-known developers like Binghatti, Damac, Danube, Emaar, Nakheel, Sobha, and more. These builders have delivered a lot of world-class housing properties which were liked by their buyers. People like to go with those developers who are very popular and have a good past for providing luxurious projects with quality and modern amenities for the residents. Try to talk to the owner of a property from a popular developer.
Location and Transportations
We all have the idea that if a project is located in a prime or suitable address then people buy that property very quickly. This shows how much important the location of a property is because it determines the lifestyle and connectivity benefits of that property. It is good to look for a house that is near or connected to important highways and public transportations like metros. A good location normally has services like schools, hospitals, shopping zones, and malls. The property becomes more desirable if it is in a developed area.
Type of Properties and Their Usage
Always go for the properties that will fulfil your needs and Dubai has a huge collection of different types of housing properties like studios, apartments, townhouses, villas, plots, and other types. Try to buy properties according to the use, for example - if a property is for personal use then go for a luxurious house with good pricing and if the property is for rental income then buy a house in a tourist spot where tourists from other countries come to visit because it can give a high rental yield every year.
Market Situations and Property Prices
If a buyer understands the market trends of the real estate in Dubai then he/she can make good decisions in buying properties. Make it a habit to study more about the situation of the property market, like the prices of the properties, what are the rents of the properties for the year that you are going to buy, and how many people are living in the new properties. Talk to the brokers or professionals of real estate from companies like Dubai Housing who can give a detailed view of the market and help you to book a better property in Dubai.
Financing Options
Try to find out all the financial and loan options that are available to buy a desirable property in Dubai. It is good to know that there are several banks and financial companies in Dubai that offer mortgage loans to both residents and non-residents also. So, try to compare the rates of interest, the terms for the loans, and what are the requirements to get a loan. A good real estate company can even help to get a pre-approval for a mortgage which will ease the buying of luxurious houses from a big developer.
Property Inspection and Condition
Go through everything before finalising the purchase of a property. Try to look for the quality of the building or project area, how will be the fitting and flooring of the house, what will be the view from the property, and other such things. If a buyer has the option then go for a professional who will inspect the property to make sure that everything is ok or without any issues. Properties that are built by Emaar and Damac have luxurious finishes that look very good and are in better condition, for example Damac Riverside Community.
Service and Maintenance Fees Of the Properties
In Dubai also the home owners may have to pay maintenance fees and service charges living in a prime community or in a luxurious building. These changes are taken to provide essential services and to beautify the surroundings of the project through lush gardens and green parks. So keep in mind that these costs are also paid by the owners of the property and they can impact on the total costing of that particular property. The more luxurious a property or community is, the more will be the maintenance charge.
Resale Price For a profitable Exit
If you are an investor then it is very important to see what will be the resale price of the property that you are buying today. See what was past pricing of a property from the developer that you are looking for and by how much the prices increased. The price of a property also rises because of the huge demand for certain types of properties and popular locations in Dubai where people like to live. Some areas have higher prices than other locations for the same type of housing project. So, to resale a property with a higher price invest in a luxurious project from a popular developer in a posh neighbourhood.
Conclusion
People from all around the world buy properties in Dubai and countries like India and Russia are among the top countries for purchasing a huge number of housing and commercial properties in Dubai. Before buying a house in Dubai it is important to know about the real estate of Dubai and rules that are linked to owning a property. It is a good idea to take help of a sales executive from a popular company like Dubai Housing who can guide you to purchase the right property according to the requirement for personal use or investment.
