Property is a great way to become part of a country. However, it is not as easy everywhere. Every country has different rules and regulations. A lot of countries do not even allow foreigners to buy property in their land. The UAE has a very flexible policy in these terms. They encourage expats and foreigners to buy apartments and provide them with facilities.
How To Buy Property In UAE
Buying property is a complicated and legal matter. You need to have the correct information to do the process in the proper manner. For example, if you buy an apartment in Dubai and do not follow the proper way, it can be a complete waste of money. So following the correct procedure is the first thing to consider while you plan to buy an apartment in the UAE. Here are some tips that can be used to buy an Apartment in the UAE.
Hire A Property Advisor
Buying property is a pervasive process in the UAE, basically anywhere in the world. It requires legal permissions and a lot of paperwork. It is not a piece of cake for a layman. You need to hire a broker or property adviser who can take care of all these matters for you. A good property adviser is a key to your perfect apartment purchase, so make this decision immediately.
Things To Consider While Buying An Apartment
While you get all the legal and other help from your advisor or broker, there are certain things that only you can look for in UAE properties.
● Location
It is very important to see that the location you are looking for is a good one. It should have hospitals, schools, and markets close by. This would make it not only a more feasible residential place for you but also increase its rental value.
● Size
The size of the apartment should also be good enough. Either the size should be reasonable, or it should have plenty of storage to make up for the small size of the apartment. You can find all kidneys of apartment sizes in the UAE, but you need to do proper research to have the best buy.
● Amenities
When you buy an apartment in Dubai or anywhere in the UAE, make sure all the basic amenities are available. For example, water and electricity. Also, the place should be fully air-conditioned, given the weather in the UAE. The UAE has a very fast pace of life. The amenities
● Build Quality
Build quality of the building where you’re buying the apartment is a very important part of the whole process. Make sure you check all the important information regarding that.
Benefits of Buying Property in UAE
Buying an apartment in Dubai or any part of the UAE can be a very wise decision. It comes with a plethora of benefits that you can enjoy.
● Huge Market
The property market in UAE is huge, and you can find a good apartment exactly the way you want. A lot of online portals provide a peek into this market. You can check your options while sitting at your home.
● Development
Development and progress rate is very high in the UAE. This fact makes the UAE a perfect place for property investment. The market is very stable and would only bring you profits in the longer run. It is also a very well progressed place to live. The living standard is pretty high. You get to enjoy a good lifestyle with all the luxuries of life.
● Security
Whenever you invest your money somewhere in the world, the most important priority is the security of the place. There is no question that the UAE provides great protection to its residents. So, buying an apartment and living in it would be a great decision.
● Property Visa
The visa policy of the UAE is very strict. You can mostly get a visa only through a job opportunity. A lot of people consider the UAE the best place to live. To secure a resident visa, you can buy an apartment in Dubai, Sharjah, or wherever you like. It will give you a chance to enjoy the safe and secure environment of the UAE. The resident permit of the UAE is something to die for, and you can have it just by buying an apartment in the UAE.
● Rental Profits
If you do not want to live in the apartment you buy, you can still bag a lot of profit in terms of rent. Rental rates are very good in the UAE. So many expats are always looking for a good place to reside. You can put up your apartment for rent and enjoy the profits. If you buy an apartment in Dubai, the rental value of the property is great. It is better than so many other big cities in the world, such as New York, London, and Singapore.
● Government Support
Property purchase is a department that the government of UAE supports and facilitates. This support from the government makes the whole process a little easier. Not only does the government support you in buying the property, but it also gives you incentives. The government of UAE understands the importance of people who invest in the market and gives them full rights.
● Safe Profits
UAE has a very secure system of transactions. Your rental payments will be safe regardless of where you live in this world. This is also an incentive that you might not find in so many other countries. There are so many banking facilities that you get when you buy a UAE property and put it on rent.
● Low Taxes
UAE is the best place if you do not want to give hefty amounts of your earnings away in taxes. It is heaven when it comes to rents. Earlier, there were no taxes in the UAE. Now there is minimum to no taxes that does not burden the property buyer at all. This is one of the big reasons for the progress of the property market. Everyone loves to have a baggage-free property in the UAE.
