Villas in Dubai and other Arab real estate are one of the most promising investment areas with minimal depreciation risk. Even with a slight price decrease, the object will retain its value and not depreciate to zero. Regarding the emirate, we are talking about a constant price increase. In 2023, up to 35% growth was recorded in popular areas. Therefore, you can buy villas for investment in DAMAC Hills to rent and resell them a few years later and benefit from the increase in value.
What is the most sought-after property in Dubai?
Now in Dubai, demand exceeds supply both for sale and for rent. In August 2022, sales increased by 67.5% compared to August 2021! The occupancy rate for rental properties in Dubai is currently at its highest level in 5 years. In the most prominent areas – Dubai Marina, Business Bay, Downtown Dubai, and JLT – rental rates for apartments increased by 18%, 11%, 19%, and 14%, respectively, compared to the previous year. Most of all, the demand for exclusive design objects in the central regions. For example, DAMAC now has exciting properties in the Business Bay area.
DAMAC is an interesting developer in general: it is one of the leaders in the elite real estate market in the Middle East. Original concepts and advantageous locations always distinguish their properties and are great for investment – they are almost always completely sold out long before construction is completed. Recently they sold a complex developed together with the Italian brand Roberto Cavalli, and now they have a new project, once together with the jewelry brand de GRISOGONO.
How to pay for the property in Dubai: types of loans and installments
We have already touched on this point a little higher. One of the main advantages of the Dubai market is that real estate can be bought in installments at 0%.
There are two types of installments:
- The first is rent-to-own. This type of installment is valid for finished housing – you live in an apartment or villa and pay rent, which goes to pay off the contract. Usually, such payments are higher than the market, but the property will become yours after paying the entire amount.
- The second type of installment plan is for housing under construction. The payment is divided into two parts: up to 70% of the cost of housing is paid according to the payment schedule, and the second part is paid only after the delivery of the house. This reduces the risk of being “unfinished” and encourages developers to adhere to deadlines strictly.
An important advantage is that real estate can be sold in installments without paying the entire amount. Thus, you will receive investment income, and you will also be able to obtain a residence permit.
The UAE visa can be issued for 5 to 10 years. It allows you to live and work in the Emirates. It can also be extended an indefinite number of times. The owner of real estate in Dubai can get a UAE visa for each family member, use banking services, conduct business, and obtain a Schengen visa or a United States visa.
The installment system simplifies the “entry” to the Dubai real estate market. You just need to have on your account an amount equal to the down payment, which is only 14-24% of the total value of the property, depending on the developer’s conditions.
Pros of buying property in Dubai
Buying an apartment or villa in Dubai has pros. Pros include a variety of property prices, the availability of skilled workers, beautiful beaches and weather, and the availability of free medical care.
Also, when buying property in Dubai, there are some advantages:
- First, Dubai has an attractive tax policy that significantly reduces property tax costs;
- Secondly, Dubai has an affordable and reliable credit system for buying property;
- In addition, Dubai has excellent infrastructure and quality services that guarantee a high standard of living for residents;
- In conclusion, buying property in Dubai is a profitable investment decision.
Assistance in buying property in Dubai
Specialists of the Emirates.Estate will help you choose a liquid object for investment or residence in Dubai. They will consult and answer all your questions in detail.
You can even buy real estate in the UAE remotely, without leaving your home: the specialist will mail you all the documents. You can pay, including with cryptocurrency, and the whole process will take no more than 30 days. Unlike many other states, you will not face sanctions, and asset freezes in the UAE.
Please share these strategies for buying property in Dubai with your friends and family.
