Buy Dubai Real Estate as an Expat with These Tips Part 1

Popular with both domestic and international investors, Dubai real estate is a prime choice for investors. As the laws have changed and foreign buyers can purchase houses and apartments, many people are looking to invest. With the massive potential for return on investment, buying Dubai real estate for expats comes with many benefits: you can choose from hundreds of properties, encompassing villas, condominiums, apartment buildings, and single-family homes. Interested in making an investment in property in Dubai? Then you must take a few minutes to investigate the available choices.

One of the best scenarios about investing in Dubai real estate is its variety. It has available condos, properties, apartments, and residential types to fulfill every customer's residential or commercial requirements. This also means that individuals can settle for properties that may not suit their budget or preferences.

Dubai’s real estate market has also gained much attention from overseas investors who prefer purchasing these assets for high returns and high-income properties. While these properties can be found in premium locations, such as Dubai Marina and Jumeirah Lake Towers, other profitable, less conspicuous Dubai real estate are available to those who work with local realtors or real estate agents.

Types of Dubai Real Estate

In part one of this series, let’s look at the primary property types you as an expat can buy. They correlate to a house style or land, so you should assess the market thoroughly with these options before making your purchase:

• Freehold Dubai Real Estate: For decades, buying a property in Dubai for expats was a complex process that most homebuyers avoided. However, the government kept the demand strong by issuing attractive policies and incentives, so it could build the infrastructure to support the new population expected over the next two decades.

Since foreign residents can own property in Dubai, many prefer to buy land instead of building a residence on it. This option gives you the right to develop your property and doesn’t require much paperwork.

If you’re interested in buying your own Dubai real estate, you must purchase it through state-approved property developers.

• Common Dubai Real Estate: Investors buying properties in Dubai also have the option of purchasing commonholds, which include primary condominiums, apartments, and non-residential units in a building. A commonhold property provides you with the right to sell or rent the property. You will also be responsible for the maintenance of the common areas of the building.

Common properties are very similar to freehold properties. However, since commonholds are like apartments, they require the owner to pay an ongoing fee for maintenance of the building and its shared common areas, usually owned and managed by a real estate developer.

• Usufruct Dubai Real Estate: A common type of arrangement for property within the UAE is usufruct. "Usufruct" comes from a Latin term meaning "to use and profit from." Although it is primarily seen as a lease for long-term investment, the occupant does not have the right to, and therefore cannot, amend or change a usufruct property.

In the UAE, leases for usufruct properties have a life that could go up to 100 years.

To Be Concluded

In part two, we’ll look at more personal aspects of purchasing Dubai real estate, such as considerations and questions that clearly define why you’re investing in international properties. However, if you’ve already squared away those aspects and know what kind of property you want, contact Dacha Real Estate today! We provide comprehensive property management with an emphasis on world-class client services so that you can find your dream home in Dubai!