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Posted: 23 months ago

WHAT TO LOOK OUT FOR WHEN BUYING PROPERTY IN DUBAI?

Currently, Dubai is one of the best cities to invest in property. Some of the reasons Dubai beats out every other city in the world is the lifestyle the residents lead, the year-round sunshine, the low crime rates, the connectivity to the rest of the world, and social diversity. Foreigners need not be intimidated by the prospect of moving to the city as all these factors make the city easy to acclimate and fall in love with.

Forgetting the Extra Costs
Be mindful of closing costs, service charges, and other operating costs to calculate the net yield of the property you're buying. You need to be aware of possible agent fees, Dubai Land Department fees, mortgage fees, building service charges, or property management fees.

Letting Emotions Get the Best of You
Investment properties are about numbers and not emotions. You may not like the property or neighborhood you're investing in, but if it delivers a better yield then that's what you should be focused on.

What Are the Best Areas to Invest in Dubai?
There's always the question of where to invest in Dubai real estate, an emirate that doesn't stop growing; this means your investment benefit can differs between now and in the future with such constant changes in the market and demand. At Cowries Prospecting, we can furnish you with details information on best investment areas.

Can Foreigners Invest in Dubai?
Yes, foreign nationals can invest in Dubai real estate in freehold areas and leasehold ones. With freehold properties, once they buy the property, they have the right to use, lease, or sell it as they wish.

As for leasehold properties, buyers don't have full ownership yet they can only benefit from it for a long period of time (usually 99 years). Foreigners include both expats already living in the UAE and non-residents.

What Is an Investment Visa?
An investment visa is a type of visa provided by the government for non-residents looking to invest in Dubai real estate. There are certain conditions to be met if you wish to gain this visa by investing in a residential property in Dubai:

To enjoy a stay through this type of visa, you should buy a property of value of at least AED 1 Million. If the cash option isn't suitable for you, no worries as you can go for mortgage; however, the property should be maximum 50% under mortgage. Having a partner investor is a good idea but in such cases the minimum share for each of you must be AED 1 Million.

Considerations After Investing in Dubai
Once you become an owner of a property in Dubai, you can consider the following tips to help you succeed:
Hire a capable and credible property management company
Demand real time reporting
Treat your tenants well
Consider quarterly payments to attract more tenants.

Why Us
At Cowries Prospecting, we have over 20 years experience in property investment, construction and management. We have several local and global partners with property holdings in various countries like the UK and UEA. We are here to guide you through your property investment journey, offering expert advice and access to promising