Dubai Real Estate FAQ
In 2021, the Emirate ranks #42 in Mercer’s Cost of Living Survey, so the city is more affordable than San Francisco, London and Paris. The area where you choose to reside is one of the major aspects determining how expensive the cost of living in Dubai will be for you.
UAE residents have to renew a driving license in Dubai every 5 years, while for UAE and GCC nationals the term duration is 10 years. A driving license renewal can be done online via the RTA website, RTA Smart App, Dubai Drive App or via self-service machines at any Customer Happiness Center.
Selling property in Dubai is far from a complicated process with the help of a qualified real estate agent. After finding a specialist, you will need to sign a ‘FORM A’, to formally mandate brokering and marketing with that agent.
First of all, you have to know that while it is perfectly legal to sell off-plan property in Dubai, developers set certain restrictions in order to keep these transactions under control.
To begin with, the investment property market in Dubai offers higher rental yields than many other mature real estate markets. In fact, the average ROI here ranges between 5% and 9% as property prices per square foot are significantly lower than in other cities across the globe, such as London, Hong Kong and Paris.
In order to start investing in Dubai real estate, you have to identify the investment purpose first. Besides being used as private residence, properties can be rented out and resold, which are perfect options if you are looking to generate some income.
In Dubai, UAE residents are allowed to buy properties only in designated freehold areas. Off-plan developments are a very attractive option, since their prices are lower and developers offer flexible payment plans.
When investing in property market in the UAE, many individuals tend to secure a long-term income by becoming a landlord. It is worth noting that residential real estate can generate from 5 up to 12% ROI, which really high in comparison with European capital cities.
Fortunately, property market in Dubai offers plenty of options for any budget. As of H1 2021, the top affordable communities have been Dubai International City, Jumeirah Lake Towers, Jumeirah Village Circle, International City and Dubai Sports City.
When considering the perfect area for a property purchase, there are numerous factors to be taken into account, including the infrastructure, public transport links, healthcare & academic facilities and more.
Fortunately, the property market in Dubai offers plenty of options for any budget. As of H1 2021, the most popular affordable family-friendly communities in Dubai are Jumeirah Lake Towers, Jumeirah Village Circle, Dubai International City, Dubai Sports City.
Off-plan property in Dubai is property under construction, and is a popular option with end users and investors. Mostly, this is due to the fact that it has a lower purchase price than ready to move in units and there is a possibility to resell off-plan property before its completion, thus, gaining higher capital appreciation.
To begin with, it is worth noting that the UAE real estate market is open to any buyer, therefore, you will not require a visa/Emirates ID when buying off-plan property in Dubai, only a passport copy.
Real estate investment in Dubai is a perfect option for a long-term income. You can buy a home, renovate it and resell it, or purchase a commercial building that has tenants who will pay you a sufficient amount of rent to cover the cost of owning the building, and then some.
There are a number of reasons why it is good to invest in real estate market in Dubai. For instance, property prices in the Emirate are significantly lower than in Europe, America or Asia.
Foreign nationals can purchase real estate in Dubai only in areas designated as ‘freehold’. Foreigners as well as expats, who acquire property in freehold areas, may acquire freehold ownership rights over purchased real estate without restriction, or leasehold rights for up to 99 years.
The UAE Government had approved amendments to the ‘Executive Regulation of the Citizenship and Passports Law’ in January 2021, which allows several categories of foreign nationals, their spouses and children to obtain Emirati citizenship.
The emirate of Dubai offers real estate for sale in different price categories, where interested investors can find both affordable properties and luxury real estate for sale. The price of real estate is greatly influenced by its location.
Purchasing real estate in the emirate of Dubai has a lot of advantages. One of them is the fact that Dubai offers high rental yields, which varies on average from 5% to 9%.
The price of apartments in Dubai varies depending on the number of bedrooms in the property and the location. Investors can find affordable properties in areas of Jumeirah Lake Towers, Dubai Investment Park and International City.
The price of apartments in Dubai varies depending on the number of bedrooms in the property and the location. Investors can find affordable properties in areas of Jumeirah Lake Towers, Dubai Investment Park and International City.
In 2019, the UAE government implemented the Golden Visa system, which are long-term residence visas in the UAE which are issued for 5 or 10 years. These visas can be renewed automatically, provided all the rules are followed.
Expatriates, as well as foreign nationals can buy property in the emirate of Dubai only in freehold areas.
Investors can purchase property in the emirate of Dubai with cash. There are actually some advantages of buying a property with cash, for example, the possibility to negotiate a real estate deal and bargain at a preferable price.
The cheapest property in the emirate of Dubai is a studio of 511 sqft in The Square, Al Mamzar.