Property in Dubai
Dubai’s premium real estate segment showed incredible growth in 2021. Thanks in no small part to this type of ownership, the emirate’s market has achieved exceptional historical results. By the end of 2021, Dubai averaged a 17% price increase. A record number of new investors and wealthy buyers have entered the market looking to purchase luxury villas and penthouses. A wide variety of long-term records in price growth, volumes, and sales were broken. To buy a Dubai home means to buy status and position in society.
Advantages of buying a house in the UAE
The change in the policy of the UAE authorities regarding the purchase of the property by foreigners and the construction of new residential complexes with developed infrastructure has caused an increase in demand for houses and apartments in this country. Some people prefer to buy a house in the UAE for living, others consider it a profitable option in terms of investment.
Today the UAE is a politically calm, steadily developing country. A foreign buyer can feel secure when making a real estate transaction, as all of them are reliably controlled at the state level. Buying a house in the UAE is a promising investment, as property costs will pay off in any case, regardless of the current situation in the world.
Features of buying real estate in the UAE
Those who decide to buy a house in the UAE should be familiar with the conditions and requirements imposed by law on foreign buyers and homeowners:
- you can become the owner of housing only in a certain freehold zone, in other areas long-term leases up to 99 years are allowed;
- the buyer must pay a registration fee of 4% of the value of the purchased property;
- owners of housing in the freehold zone have the same rights to dispose of it as residents of the Emirates: sale, lease, inheritance, etc.
Luxury real estate in Dubai trends
Developers in the emirate have already scheduled the launch of many new construction projects in 2022. But buyers should expect high prices for such properties, as their growth will spur not only the prevailing demand but also a significant increase in prices for building materials.
However, at the moment, four main areas of luxury real estate have already been identified, the demand for which will grow soon:
- Property in coastal areas;
- Real estate associated with luxury hotel brands and franchises (for example, The Address, Dorchester Collection, Fairmont brands);
- Homes for family holidays or residence;
- Housing with a large number of recreational facilities (for example, swimming pools, spas, gyms).
It is noted that in 2022 villas, especially large ones, will remain the main product on the market. Apartments, occupying more than 80% of the market, are still a “secondary” product.
Features of real estate on the first line of the sea in Dubai
Housing on the first coastline in Dubai is a great investment. Such properties are easily rented out, in the future, if necessary, they can be profitably and quickly sold.
Real estate on the first line is usually much more expensive than similar properties located far from the coast. The cost of land near the water is always many times higher.
The first coastline, as a rule, is built up with premium hotels, where customers can expect top-level service and developed infrastructure. They are distinguished by a well-groomed territory, an abundance of greenery, and often their own park.
But with all the richness and diversity of choice, first-line properties are transferred into the possession of foreign citizens to a limited extent. The reason for this lies, first of all, in the fact that on the coastal territory, only a few properties are included in the zone giving foreigners the right of ownership:
- man-made islands (three “Palms” and project “The World»);
- Dubai Marina area;
- Dubai Waterfront project.
The first line in Dubai is constantly expanding due to artificial islands, which means that new properties and new opportunities for acquiring luxury real estate near the warm sea appear.
Real estate agency in Dubai
The purpose of acquiring a real estate, for housing or investment, as well as other nuances, affects the choice of a suitable option. The catalog of Ax Capital agency contains a variety of offers, among which it is easy to choose a house according to individual requirements. Company’s employees will answer any questions regarding the execution of the transaction. By contacting them, you will be convinced that buying a house in the UAE is simple, fast, and profitable.