One of the fastest-growing cities in the world, Dubai is famous for its picturesque waterfront tourist destinations, soaring scrappers and some of the topnotch malls. However, other attractions aside, you can also buy property in Dubai, which you can use either to enhance your current real estate investment portfolio or secure a home in a city where the price of properties will continue to escalate in the near future.
Selecting the best place for investment is totally dependent on your priorities, the family size, budgetary concerns; and if you are an investor, then your financial goals matter too. Fortunately, the range of affordable, innovative and distinctively designed residential communities make Dubai a haven for property investors. From affordable 1-bedroom apartments to luxurious villas and palatial townhouses for sale, the emirate holds something for everyone. With various projects in the pipeline and a promising real estate market offering attractive prices, it is the perfect time for property investment in the emirate of Dubai.
This article elaborates 5 best ways with the help of which you can easily buy a property you always dream about.
Know Your Interest
First, you need to determine the type of property in which you are interested. Most buyers often select either townhouses, apartments or villas, which are generally positioned in secure complexes and lavish areas with communal leisure conveniences including playgrounds, tennis courts, swimming pools and gyms at the doorstep.
Some of the most popular, deluxe and classy developments include Emaar Towers, Jumeirah Gardens, International City and Al Hamra Village. Therefore, knowing your area of interest will pave the way for buying a real estate of your choice.
Search Online Sources
Whenever you start looking for properties, a good place is to start online. In this way, you will get some idea about the general market trends and prices of real estate. There are plenty of agencies and estate agents that provide an online list for properties available for sale in Dubai.
You can either purchase properties from estate agents or from property developers. Estate agents usually sell those properties that have been built and have previous owners. On the other hand, developers sell off-plan properties, which may be still under-construction and will be handed over to the buyers once their construction is completed.
Contact Real Estate Agents
Apart from searching online, you can also consult a professional real estate agent as they have a plethora of knowledge about the property market of Dubai. It’s best to hire a real estate agent since they will help you in finding the properties that not only suit your budget but also meet your requirements.
As laws and regulations change quickly in Dubai, hiring an agent will also help you avoid landing in hot water. You just need to pay a fee of between 2% and 5% of the value of the property. Moreover, if you have doubts, you can always check the credentials of anybody you hire. That is to say, the regulatory body for Real Estate in the city is the Real Estate Regulatory Agency (RERA) by visiting which you can check the credentials of agents.
Attend Property Fairs
One of the best ways to buy properties in Dubai is by attending property fairs. While there is no denying the fact that the property market in Dubai is growing fast, but it is still relatively young. As a result, numerous people plan to invest in real estate from developers whose projects are still under construction. The method is best for those who are foreigners and are keen to invest in the real estate of the city.
Property fairs provide developers with an opportunity to show their work and meet potential buyers. These fares are held around the world, so you can attend ones that are held nearest to your location. Moreover, you should always verify the developer you are considering to buy property from by checking their license and registration with the RERA. Browsing a list of licensed developers on the Dubai Land Department (DLD) website is yet another authentic way to check the developer’s credibility.
The last and the perfect way of buying a property in Dubai is by visiting it. Before you plan to make any move, make sure to spend some time in the city. If you are interested in buying a resale property, ensure that you view as many properties as you can. While looking for properties for sale, make a list of questions you need to ask from the sellers.
On the contrary, if you are buying off-plan or construction is not complete, you should go to see similar properties by the same developer that are completed.
In all, the Dubai real estate market offers a slew of valuable investment chances for those thinking of buying a property in Dubai. Therefore, with little effort and a modicum of external support, you can surely turn the tides in your favor.