The real estate market is one of the promising areas in the United Arab Emirates. Residential buildings, skyscrapers, shopping centers are being built in each resort. Villas in Dubai are in great demand. They are bought for investment, permanent or seasonal residence in the UAE.
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Real estate market
The first stage of development of the real estate market in Dubai began in 2000. An architectural program was developed to equip the resort – it was planned to create several districts, parks, and places of entertainment. At the same time, the plan “Palm Island” was presented. It was supposed to house the Atlantis hotel in the central part, and each branch of the “palm tree” was assigned for the construction of villas in the emirate.
Dubai real estate features are as follows:
- Buying cottages in Dubai is possible for local residents and citizens of other countries. To do this, you need to issue a minimum package of permits.
- Prices depend on location. The most expensive options on the Palm. In the suburbs, you can buy houses cheaper, but not smaller in size and quality of arrangement.
- Architectural style – hi – tech , classical European, national Arabic. There are interesting architectural projects that combine several styles. The peculiarity of villas in Dubai is large panoramic windows, a lot of space in the rooms, high ceilings.
- Buying cottages in Dubai only through intermediaries, construction companies transfer the right to sell to real estate agencies.
To search for options, it is recommended to study the official websites of the latter. There are options for the sale of objects under construction or planned for construction. Their price is 20-30% lower than that of finished houses. The developer will not make a direct announcement, the rights to implement are transferred to agencies.
Prices for cottages in the emirate
You can buy a villa in Dubai at an average price, but for this you need to make a comprehensive analysis of the proposals. Criteria – the characteristics of the house, its location, equipment. In the UAE, there are no residential buildings with a “rough finish”, all houses and apartments are sold with a fine, partially or fully furnished. The websites of agencies have current prices, photo and video shooting of houses, rooms and territories. So you can visually explore each option.
What determines the price of a cottage in Dubai:
- Location. Expensive options on the “Palm” and in the Deira area. In the suburbs, it is 40-50% lower.
- Transport, roads. The price rises if there is a metro station nearby, the central route passes.
- Price on request. This is true for expensive cottages. In Dubai, the cost changes every year or quarter. If a home has been on the market for a long time, the value may rise or fall.
Before buying a villa in Dubai, it is recommended to find out about the options located nearby. So you can analyze the prices in the area, find out if the cost of this house is too high. It depends on the condition of the premises, furniture and technical equipment.
How to buy, criteria
Buying a villa in Dubai can only be done in the Free Zone, where the purchase of real estate by foreigners is allowed. If the purchase amount is more than 1 million dirhams, you can apply for an Investors visa, which allows you to stay in the UAE for 2 years. Then you need to extend your visa.
Purchase order.
- Collect documents, translate them into English and Arabic.
- Choose a house, draw up an agreement of intent.
- Make an advance payment, the amount is 10-15% of the total cost.
- Have a local notary public complete the purchase process.
For full payment, money can be transferred through a bank account. In the UAE, it is not customary to accept large amounts of cash. There are no taxes on the purchase of real estate in the United Arab Emirates. You can first arrange a lease, and then buy a cottage.