Dubai Real Estate

A real estate look into the city of Dubai

Are you looking to invest into real estate? Your real estate needs can vary depending upon your budget and condition and can basically fall into three categories - family oriented or business oriented or investment oriented.

Incase your real estate needs are family oriented or business oriented, obviously the best bet would be to buy property at a place where you family stays or your place of business but incase you are looking to invest in properties, you may have a plethora of options available in terms of location.
You can choose to investment in royal cities like London, Paris or financial hubs like New York, Mumbai or in growing economies of world like Ukraine, Romania or Dubai.

Dubai, has got a number of investment advantages which this lens would discuss. This lens will also discuss how to choose your real estate investor, what to look for in your real estate investor, places worth of investing, how to purchase a property, and some vital statistics relating to real estate purchase with Dubai in focus.

Feel free to discuss your real estate investment needs with us

Dubai- Your best bet to real estate investment

Property prices in Dubai are still less compared to other international cities in the world in the same cadre. This calls for higher capital appreciation in times to come.

Professionals come to Dubai in lieu of high pay and tax free status. This calls for increasing demand in the home/commercial real estate segment for these professionals, which makes Dubai all the more strong reason for anyone to invest in real estate.

Americans and Europeans are seeing Dubai has a huge opportunity to invest and the real estate industry here is a major strong component. Thus your real estate investment in Dubai is all set to soar high returns.

Weather conditions are sunny and pleasant throughout the year.

Dubai promises a mix culture suiting every religion, caste and creed in terms of modernity and simplicity.

Last but not the least, there is a DisneyLand coming up in Dubai, which will call for more tourists soon. You could rent out your property to these tourists and earn a ransom income from your house property. Incase rent collection is a problem at your end and you do not have a physical presence in Dubai, most real estate companies have special service that can take care of this aspect.

Know more about real estate investment in Dubai

What to look for in your real estate dealer?

When you choose your real estate dealer bear in mind the following points -

i) Honest & Trustworthy - It certainly goes without saying that your real estate vendor should be honest and trust worthy. Incase your real estate vendor is a broker see to it that the rate he presents to you are transparent and not inflated from what is offered by the property dealer. Not only should your broker be honest but trust worthy too. Having a trust worthy broker will ensure that you do not run into legal complications during and after property purchase.

ii) Goals - Your real estate investment firm should understand your goals in terms of time and budget and present you with options at an affordable cost(given your budget) at a suitable time. Your property need can be urgent and it is important that your dealer takes care of this.

iii) References - It is worth talking to a few past clients of your real estate dealer.

iv) Support Level - Good and service oriented real estate dealers take a step beyond and see to it that the property documents are hassle free and there are no legal complications involved.

v) Dealer Stability - How long has your chosen dealer been in business? How many satisfied clients does he/she have?

Incase you are looking for properties in Dubai, this year RERA ( Real Estate Regulatory Authority in Dubai) will be ranking Dubai property developers based on their financial stability and market experience. The evolution is aimed reducing the number of developers and to give Rera greater control and investor confidence

Get in touch with real estate dealer meeting all the above mentioned criteria

How to purchase a property?

Following these steps ensure that you land up in hassle free and trouble free property purchase -

1) Objective - Choose your property objective, whether it is investment based or need based.

2) Budget - Fix up your budget.

3) Choose a property dealer - You can approach a direct dealer or select a broker.

4) Discuss requirements with your property dealer - Discuss your budget, financial terms (on-payment, loan etc), area preference etc with your dealer/broker.
Generally the payment is made in two parts, a percentage of property value (agreed upon price) on booking and remaining as things develop with full payment being made once the property is complete. Incase the promoter/developer is flexible he/she may split the payment aspect into three parts, a percentage of property value (agreed upon price) on booking, another percentage once the property is complete and remaining a year or two after handover.

5) Visit - Your property dealer will take you to various places as per your choice and budget.

6) Select - Choose the best property after all those visits are made.

Click here for a hassle free property purchase

Dubai Real Estate scenario

Home prices in Dubai vary from an average of $500 per square foot in Dubai, compared with $6000 a square meter in Abu Dhabi.

Dubai International Finance Center (DIFC), established in 2004, bought new growth dimensions to areas such as IT and Finance. This attracts professionals to Dubai in lieu of better career opportunities and thereby raising indirect demand of housing apartments in Dubai.

There is a common misconception that most of Dubai's GDP comes from oil industry. A recent study shows that 20% of Dubai's GDP will come from tourism very soon.

DIFC Investments, the investment arm of the Dubai International Finance Center in October this year announced its real estate arm, a real estate fund that will invest in Dubai and the UAE's real estate sector. The segment was the biggest contributor to UAE's economy last year, accounting for eight percent of the country's GDP. It continues to play an important role in the government's economic diversification policies.

There is no government tax in Dubai, be it property purchase or property sale or capital gains tax. This has lead to an high savings compared to the US/UK markets.

With activities ranging from desert safari to parataking there seems to be no shortage of activities that can be done in Dubai, add to it endless supply of theme parks, beaches, resorts, arcades, shopping malls, golf courses and sporting activities. This calls for increasing tourists' visits and rentals to your apartment for tourists coming with families and not preferring hotel stay.

Loan schemes offered by National Bank of Dubai are quite popular for purchase and refinance of freehold residential properties in Dubai.
Available both to UAE residents and non-residents, NBD home loans will offer customers loans amount up to AED 4 million, flexible tenors up to 20 years, competitive interest rates and prepayment options.

17% are UAE nationals, approximately 71% of the total Dubai population belongs to various nationalities which include Pakistani, Bangladeshi, Indian, Filipino and other asian communities and near about 3% of immigrants is originated from western countries.

Inspite of national language Arabic in Dubai, many other languages are vigorously spoken for its diverse city culture. Among the maximum spoken language in Dubai include Hindi, Urdu, Malayalam, Bengali, Talalog and English.

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Places of investment in and around Dubai

Ajman: Ajman, the smallest of the seven emirates of UAE is located on the coast of the Arabian Gulf. Among these emirates, Dubai and Abu Dhabi have risen to popularity overshadowing the little Ajman.

With a small area of 260 square kilometres and a population of around 100,000, Ajman has continuously thrived to level with Dubai. Today, Ajman is showing its true potential and is being shaped to be one of the next investment hot spots not just in UAE but all over the world.

The main reason why Ajman has role to power is due to its strategic location. Its close proximity to the already developing city of Dubai makes Ajman as the second subject for development.

Those who are tired with the city life in Dubai usually flock to Ajman to feel a more relaxed and serene way of living.
Another why Ajman is being developed to be like Dubai is the affordable properties it offers. Dubai and Abu Dhabi, being the more commercialized now offer higher
rates in real estates and other properties hence leaving Ajman to offer cost-effective rates. For this, many are attracted to settle to Ajman, having the more relaxed lifestyle as an added bonus.
Business Bay: Business Bay will be a new "city" within the city of Dubai and will be created as a commercial and business cluster along a new extension of the famed Dubai Creek extending from Ras Al Khor to Sheikh Zayed Road. This project will feature facilities such as office & residential towers set in landscaped gardens interspersed with a network for roads, pathways and fascinating canals in an area covering 64 million square feet. The ambience will be designed to add to the magnificence of the project and provide a highly conducive environment and infrastructure for businesses from around the world that wish to establish their local, regional and international headquarters at Business Bay. Dubai's Business Bay will be similar in nature to Manhattan of New York or Ginza in Tokyo - the business centres of those cities. Business Bay was undertaken after extensive studies by some of the world's top consultancies, and reflects the ambitious vision of Dubai and the role that the UAE is looking forward to play as a leading international commercial and business centre. This ambitious project is expected to attract a large number of regional and international firms, especially with its modern infrastructure and facilities, in addition to the existing business-friendly rules & regulations.
Dubai Sports City: Dubai Sports City is the world's first purpose-built sports city. Set on 50 million square feet of land within the Dubailand development, Dubai Sports City will feature four magnificent stadia: a 60,000 seat multi-purpose outdoor stadium, a 25,000 capacity cricket stadium, a 10,000 seat multi-purpose indoor arena, and a field hockey venue for 5,000 spectators.
Dubai Water Front: Dubai Waterfront is a stunning new development comprised of canals and islands containing luxury hotels and homes. Its 70 kilometer (42 miles) Arabian Canal runs through the desert, while its arc shaped man-made islands produce a shelter around the Palm Jebel Ali. The harbour provides sea access for trade and entertainment, while its surroundings are divided into a series of commercial, residential, resort and amenity areas.
Jumeirah Beach: Jumeirah Beach Residence- Living a life of comfort and luxury Enjoy a beach resort lifestyle, go surfing, have a sun bath, experience scuba diving, and sail your own boat just across the road from your home. Staying in the Jumeirah Beach Residence (JBR), experience your home on the beach and live its way of life. Situated in the heart of New Dubai in Marsa, JBR is 22 million square feet of gross floor area development across a length of 1.7 kilometres catering to a community of 25,000 people.
Ras Al Khaimah: Ras Al Khaimah, also known locally as RAK, is rapidly emerging as the "new Dubai"; it is the most northerly of the United Arab Emirates and it is characterised by its stunning landscape, breathtaking mountains and the speed at which it is developing as an affluent centre for business and commerce in the GCC region.

Ever since then it has been legal for foreigners to own freehold property in RAK and receive a residency visa, it has kick started a mini property revolution in the tax-free emirate that is predicted to continue developing apace.

Those who missed out on the now legendary 300% gains that Dubai's first freehold property projects such as Palm Jumeirah witnessed for example, are backing the emergence of RAK as a leading real estate investment hub.

Ras Al Khaimah's property prices are currently running at around 60% of those in Dubai, and the lower price for real estate in the emirate is in part based on the fact that it has yet to establish itself on the global stage economically speaking, but also in part because more than three quarters of the cement produced in the UAE actually comes from RAK. This means that developers in the emirate can maintain lower construction costs and therefore maintain their competitiveness.

Know the latest in Dubai Real Estate

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Other costs involved in property purchase in Dubai

1) Legal charges - Generally there are no legal charges involved as the property purchasers are not required to hire lawyers.

2) Additional tax - The property purchase tax, annual property tax, tax on renting and leasing property is nil. To register your property with Dubai Land Department, 2% of the purchase price is payable. Incase the property is purchased through mortgage, 0.25% of the mortgage amount must also be paid. There is no government tax of any kind related to property purchase in Dubai and in most cases, the property purchaser and his/her immediate family members are offered residential status.

Talk about this in details with dubai property specialists

Dubai Real Estate

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Featured properties in Dubai

Lynncoln World Island Resort

Lynncoln Island Resort a cultural hub alive with activity, with promenades leading guests to enlightened moments within a bustling community beaches, bars, restaurants, cafes, shopping bazaars, aquatic sports, rooftop fitness zones with multiple infinity pools, libraries, galleries, Artists in Residence, live outdoor entertainment and centres of learning.

Strong expected Returns on Investment of over 10 % per annum (of original purchase price) are assured from a rental pool, leased and managed by Lynncoln Hospitality, under a Transparent and equitable profit share scheme.

An investment in Lynncoln The World Island Resort is more than an investment in property. Ownership brings a range of club members' benefits both on and off the island with membership to 250 club affiliations around the world.

Amenities and Facilities

A Pre-Launch Investment Opportunity The World Dubai

All Water homes, Residency's & Suites have unrestricted stunning water views & vistas

Luxurious international interior design, light-filled & fully furnished residences appointed with world

Outstanding Marina Design by ART Marine

Prices Starting From Just AED5,000 P Sq.Ft

Star Living

Imagine having the best views to the ocean from your home at the water's edge.

Where worldly features are at hand and your only source of transport, your elevator.

Where every whim is catered to and star treatment is the norm.

The niggles of running your home belong to someone else, while the pleasures of owning it belong to you.

This is Starliving. The ultimate in club living.

Starliving will occupy prime locale in Madinat Al Arab, Waterfront's premier beach front community with commanding views of the Arabian Gulf, Palm Jebel Ali and the Waterfront Islands.

Amenities and Facilities

A fully equipped

Table tennis and indoor basketball court

Running Track

Athletes Lounge

Juice Bar

Yoga studio

Health Spa

Zen Garden

Residential Lounge

Multipurpose Hall

Guest Suites

Library

Private Theatre

Game room

Bowling Alley

Virtual Golf

Billiards Room

Grocery Shop

Pet Shop

Restaurants

Pharmacy with on-call Doctor

Retail stores and Boutiques

Business Centre

Canal Residence

Standing on the promenade, midway between the northern and southern retail hubs of the vibrant downtown district of Dubai Sport City, Canal Residence West is not just your home; it's a whole new lifestyle statement.

Set away from the cheering crowds and energy of the stadiums and shopping mall, Canal Residence West offers a world that replicates the fashion, passion and relaxation of the Riviera lifestyle, presenting you with infinite opportunities to savour every moment. A life defined by the icons of a modern metropolis.

Features:

Stylized facade designed for each building

Landscaped waterfront promenade offering cafes, restaurants, boutiques and convenience stores

Private club on the first floor of all buildings offering state of the art gym, fitness studio, steam room and Jacuzzi, beauty salons and therapeutic treatments, reading & music room, games room and business centre

Elevated swimming pools and sundecks with shaded pavilions

Stunning views

Dedicated and secure parking facilities including visitors bay

Changing facilities and outside showers

Children's play area

Communal gardens and BBQ areas

Security and concierge services

Specification:

Floor layout planned for comfortable living

Spacious open-plan living, dining and kitchen areas

Penthouse apartments boast maid's room and private rooftop terrace with stunning panoramic views across Dubai Sports City

Interior designed kitchens and bathrooms

Elegant selection of porcelain and ceramic tiles with matching borders in living areas

Granite countertops and matching splash backs

Elegant, high quality kitchen cabinetry

Chrome finish, contemporary taps and fittings

Premium sanitary fixtures

Ceramic floor tiles in bathrooms

Generous, fitted wardrobes and storage space

Provision for high speed internet access and digital technology

Solid main door

CCTV and access control system for security

Fire alarm system

Central AC system

Generous and efficient lift provisions

Central household waste removal

Explore some exciting places in Dubai

After property purchase- Next what?

You have spend considerable time and effort to buy home/office and know may want to search for home/office furniture.

Incase you are looking for furniture, the following lens is worth reading.

Latest CityScape News October 2008

CITYSCAPE OCTOBER 2008 "No sign of slow down. All roads in Dubai lead to cityscape this week and the traffic jumps were the only sign of slow down yesterday, as thousands of visitors flocked to the worlds largest B2B real estate investment event, breaking all previous day 1 figures".

MEERAS DEVELOPMENTS has announced the launch of its US $95 BILLION jumeirah gardens master planned community project!

Important!

Lens Summary

This lens discusses the issues raised in the real estate arena with Dubai in focus. Almost all questions related to real estate - what, when, how, who and why have been answered.

While real estate analysts can use this lens to analyze their specific niche, real estate buyers and sellers can use this lens to learn about the behaviour and process of their respective target segment.

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“MEERAS DEVELOPMENTS has annouced the launch of its US $95 billion jumeriah gardens project.”

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Mortgage scenario in Dubai

Usually non-status/self-certification mortgage are available for loan under 65%-70% of the property value. Status mortgage applications should have your proof of income ( 2 yrs generally), copies of last three months payslip incase employed - employers reference combined with copies of last three months bank statement. Incase you are self-employed, most mortgage lenders demand your 2 years audited accounts, business and personal accounting statements.

Mortgages are available to non-nationals also and most mortgage service providers look for a debt ratio of 50%.

We shall be glad to assist you with your mortgage issues. Feel free to contact us

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Dubai Real Estate

A real estate look into the city of Dubai

New Table of Contents

Dubai- Your best bet to real estate investment

What to look for in your real estate dealer?

How to purchase a property?

Dubai Real Estate scenario

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Places of investment in and around Dubai

Know the latest in Dubai Real Estate

Other costs involved in property purchase in Dubai

Dubai Real Estate

New Amazon

New Flickr Photos

Featured properties in Dubai

Explore some exciting places in Dubai

After property purchase- Next what?

Latest CityScape News October 2008

Lens Summary

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“MEERAS DEVELOPMENTS has annouced the launch of its US $95 billion jumeriah gardens project.”

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Mortgage scenario in Dubai

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