You must clearly understand that to buy an apartment in dubai for yourself is one thing, and acquiring real estate as a profitable investment object is quite another. Depending on the goals pursued, you need to choose the area, and the area of the property, and the age of the building itself, if we are talking about apartments, etc. For example, if you are buying housing for yourself, then be guided by the availability of infrastructure nearby and proximity to your place of work, because traffic jams in densely populated areas of Dubai are a common occurrence.
Here are 3 Things To Consider Before Buying apartments in Dubai
1. Buy on the secondary market or not?
In Dubai, you can buy a completely new home, or you can buy something that has already been in use. Another option is to buying apartments in Dubai directly from the developer. Usually, the contract in this case is concluded when the construction of the facility is at an early stage, so you have to wait until it is ready.
You can benefit from this, because, firstly, you can pay for housing in installments, and secondly, you are insured against a rise in real estate prices (and prices for it in Dubai are constantly increasing). But this way of buying has one drawback: the finished housing may be somewhat different from what you have planned for yourself, or the time frame for its construction may be delayed. Resale housing (especially when it comes to houses or apartments that are more than 10 years old) is usually cheaper than new.
2. Why is it profitable to invest in real estate in Dubai
- Companies from more than 140 countries have their offices in Dubai, which increases the interest in commercial real estate
- Constant demand for rental apartments and apartments. More than 80% of Dubai residents are visitors, lease agreements are concluded immediately for a year
- Flexible taxation system, the possibility of repatriation of profits, the absence of many taxes (for example, income tax and VAT), simple and fast procedures for obtaining visas, trade agreements, registrations and permits
- In 2021, about 16 million tourists visited Dubai. The influx of tourists from Russia increased by 28% compared to 2020. According to experts, the tourist flow in 2022 will amount to more than 20 million people
- A stable positive vector for the development of the state economy. The government has relied on its diversification, which makes the forecasts regarding the economic state of the country in the long term very favorable
3. Where is the best place to buy an apartment or apartments in the UAE?
Palm Jumeirah
Palm Jumeirah is an artificial island that covers 5.72 km². On the territory of this area of Dubai the monorail transport goes without a driver. The Palm Jumeirah is home to the Pro Art Gallery and The Lost Chambers Aquarium.
The median income from a two-bedroom apartment is 6.4%. The price of apartments starts at 1.17 million dirhams ($320,000). Two-bedroom apartments are offered from AED 2.7 million ($730,000).
Business Bay
Business Bay occupies 6 square kilometers in the heart of Dubai. Excellent location, as well as the reputation of a business and hotel center, as well as the dynamism of development, attracts corporate and private investors to the area.
Rental prices start at $12,253 per year for a small studio. At the moment there is an opportunity to purchase apartments in Reva Residence and Merano Tower.
