The Dubai property market is an attractive destination for both investors and individuals. However, before making any investment in this desert city, there are several important aspects to consider.
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Dubai, where more than 90% of the population is foreign, attracts attention to its prospects. So it’s no surprise that Dubai resembles an American city, vibrant and offering a variety of opportunities.
There are no language barriers due to the diversity of cultures in Dubai. Despite the official language being Arabic, English is spoken everywhere. The law also requires that all contracts be drawn up in both Arabic and English. Another factor that makes Dubai attractive to investors and tourists is its high level of security.
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Dubai is one of the most multicultural cities in the world. According to Property Monitor, the average annual rental yield in September 2022 is 6.1%, which is the highest in the last three years. This fact significantly increases the attractiveness of real estate as an investment property in Dubai compared to other countries.
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Dubai is one of the most multicultural cities in the world
Political and economic stability is something that investors value and that is why Dubai is so popular. Professional real estate agents partner with experts in financing, taxation, estate planning, and legal structuring.
If the desired property is not available, these professionals act as “buyer’s agents”, actively searching the local market for attractive offers. All necessary stages of the transaction are carried out without additional costs for the client, including financing, negotiations, and conclusion of contracts before the transfer of ownership. Even after the transaction is completed, specialized realtors continue to their clients.
READ: American Dream: The Most Expensive Apartments in New York
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Another important aspect to consider when investing in Dubai is the issues of ownership and rights to real estate. It is important to check the title documents to ensure the seller is legal and the documentation is correct. You must also comply with building regulations and permits, which vary depending on the location and purpose of the property. Dubai has strict building standards, which may vary depending on specific conditions.
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Foreign investors in Dubai must comply with specific legal regulations. It is important to note that some foreigners may be prohibited from purchasing property in certain areas, and owning property in Dubai does not automatically grant the right to live or work in the country.
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