Why invest in Dubai
If you are working and living in Dubai, then chances are that you’ve been paying rent every year. Calculate this amount and see how much money you are spending on rent. If you can convert this into mortgage, you will no longer have to pay rent, but own a home of your own too. There are plenty of homes in the above mentioned neighborhoods that would be well within your budget and the chances are high you will get mortgage approval too.
Location wise, Dubai is a great resource for property investors. It is strategically connected to Europe on the north, Asia and Oceania on the east and the Americas in the West. As Dubai can be easily reached by air, water and land, people find it easy to commute as well.
In certain parts of Dubai, non-residents or foreigners can only rent, they are not allowed to buy there but still, you can buy properties in other 90% of Dubai. According to the report Britons, Indians and Pakistanis are the highest buyers of Dubai properties. Buying a property in Dubai is hassle-free; the Dubai Land Department will do necessary checks before you can buy and the transaction fees are usually around 7.5-8% of the property value. As a foreigner, banks would give you 50% of the property’s purchase price, while 25% would be put in a deposit amount. Since 92% of the people who live in Dubai are expats, the government is also open and receptive to people’s needs, making it even easier to purchase. Property investment is a straightforward activity here – no hidden deals and fees! The market is also constantly developing in Dubai, and it is always regulated, making it safer for non-residents.