What Do You Need to Know Before Buying a Property in Dubai?

The real estate market in Dubai is booming for some time now. It is the best time to buy a property in Dubai. Since there are many credible options to pick from, you need to be sure of certain things before buying a property.

Before you start your search in Dubai, it is essential to hire a renowned and experienced international real estate agent who can guide you with your Dubai investments and when you wish to buy a property in Cyprus or a Florida property or a property in Georgia.

These are a few of the things to know before buying a property in Dubai:

1. Dubai has some amazing upcoming locations where properties are stunning, and the prices are also fair. The southern part of Dubai is coming up in a big way – the area is getting developed at the moment and is a good option for land investments. Also, if you are planning for overseas buy to let, then look at developed areas like Jumeirah Beach and the downtown area. Some of the affordable established locations in Dubai are – Dubai Sports City, Dubai International City, etc. are good options.
2. Understand the difference between leasehold properties and freehold properties. Freehold properties were earlier not allowed for foreigners to purchase, but now rules have been changed, and people from all parts of the world can buy properties in areas marked as freehold land. Leasehold areas are where foreigners cannot buy properties or land but can take land/property on lease.
3. Where can you buy properties in Dubai? Foreigners can buy only in places that are designated as freehold areas. In the rest of the places, locals can invest but not foreigners. In areas marked leasehold, locals can buy properties but not foreigners.

4. Why do you want to invest in a property in Dubai? Knowing the answer to this question is very important. Are you buying a property for personal use, or is it for an investment. If it is former, you might need to consider proximity to schools and colleges, hospitals, city centre, supermarkets, etc. When buying for commercial purposes, you might need to look for properties closer to business districts, beaches, etc. Since Dubai has no property tax, and the rental yield is high, an overseas buy to let here is a commendable decision.

1. Buying a property in Dubai or a Florida property requires the buyer to carry out an area search and building research before putting their money into the property. When researching a building or area, you need to find details about the developer, the credibility, the turnaround time of the projects, service fees, and more. Many intricate details like developers in Dubai offer a warranty for at least one year for all malfunctioning elements in the property, along with a ten-year warranty for structural defects. These are details you must know before investing. Speaking to a trusted realtor is a big help in this regard.
2. Fees that buyers incur. Here are some of the fees you need to pay for the real estate agent’s fee, the Transfer Fee paid to the Dubai Land Department, Registration, and the Trustee Fee.

The Redland Property Group has over 100 years collective experience in the overseas property investment industry, working as agents, developers, lawyers and accountants, we really are equipped to handle any situation and are on hand to help and advic