Besides going for holiday or work, Dubai is a place to invest in all sorts of properties ranging from residential to luxury properties. This is so because the government amended its real estate laws, thus allowing foreigners to own a property in the investment zones or freehold areas.
Also, buying or selling a property has been made easier by real estate consultants like Azco Real Estate Brokers. With us, you can invest or purchase your home from a private seller or off-plan property from various developers.
The Reasons Why You Need a Registered Property Broker
Buying a property is one of the most significant purchase you make in life. However, like buying any other asset, real estate has its own risks, and Dubai is like any other country.
While the land department introduced various laws to protect buyers from contractual breaches, the Real Estate Regulatory Authority (RERA) expect you to be familiar with these laws or enlist the services of a registered property broker. The authority wants you to conduct due diligence even when dealing with developers and brokers that it has approved.
Off-Plan Property: If you intend to buy off-plan property, you will be exposed to certain risks like market deviations that alters the value of the home, inconsistent quality, delays in project completion and more.
A professional property consultant will help you identify a registered developer with an impeccable track record of delivering as promised.
Existing Property: A consultant will help you identify a good property and be clear whether the prospective home is leasehold or freehold. You will be disappointed in the future when you fail to establish property ownership.
Why You Should Invest in Dubai
There are hundreds of properties you can invest in this city and get an outsized return on investment. Also, the real estate market has attracted many overseas investors seeking high-income and high return properties in premium locations in Jumeirah lake towers, Dubai Marina, and other famous locations. Thus investing in Dubai’s property market as an expat has a lot of benefits.
You may consider condominiums, villas, single-family homes and apartment buildings. Just create time and visit our offices and see the available options in the market.
Further, these properties can fulfil each person’s requirements. Therefore, you will not be forced to select a property that is out of your personal preferences and budget.
Different Types of Properties in Dubai
You can invest in Dubai’s real estate for personal use or investment purposes. Dubai is the home to many expatriates; thus, you can join them and buy a property for your personal use. Alternatively, you can buy one for investment purpose and enjoy benefits such as high market capitalization and rental yield.
The following are different types of property you can get in Dubai.
Freehold Properties: The most sort for properties in UAE. It’s relatively associated with undeveloped land and allows you to develop it as you wish. You will enjoy full ownership of the property, use it for any purpose, needs less paperwork and no consent from the government.
Commonhold Properties: These are apartments, condominiums, and non-residential units. You have to pay for property maintenance, thus owned mainly by property developers.
Usufruct: The property is purely on lease, so you can’t change or amend it in any way. At times a lease can go for 100 years.
Azco Real Estate Brokers is a dedicated real estate consultant who provides creative solutions and facilitates the property buying and selling process.
Feel free to contact us for more information about luxurious residential and commercial properties as well as property management.
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