Are you new to the Dubai real estate market? Or have you been interested in this topic for some time? In any case, it is important to consider some questions before making an investment decision.
We asked our broker JUDr. Slavka Egger, which points should an investor consider before buying real estate in Dubai. She provided us with seven important aspects that should be taken into account. We wish you a pleasant reading.
1. What type of property do I want to buy?
Apartment or house. You also need to decide if you are prepared to wait for construction to be completed or if you want a ready-made property.
2. Why do I want this property?
It can be an investment and expected rental income or personal housing.
3. How long will I own the property?
Do you want to quickly end the project by reselling the unit or are you ready to be an owner for a longer period of time? This aspect is also important when choosing a given unit.
4. What is my budget?
The entry threshold for the Dubai market is EUR 135,000 / CZK 3,000,000. When selling a property from a developer, there is an interest-free payment plan with a 10-20% down payment, which means you can spread your budget more effectively.
5. Do I want to obtain a residence visa by purchase?
If so, you should pay attention to the conditions for obtaining a residence, because not all purchases guarantee it. The basic requirements are a price from EUR 200,000 / CZK 5,000,000 and duration of ownership.
6. What are my requirements for the property?
How many bedrooms, which floor and view from the window, how far to the sea, do you need a school or a park nearby, etc. Make a complete wish list.
7. Which criteria are necessary?
Prioritize your wishes by dividing the list into: desirable and necessary. The ideal property does not exist in all respects, you should decide what can be "left out".
If you answer these 7 questions, it will simplify and speed up your search for your dream property. For further questions regarding the entire process of buying a property in Dubai, please contact us.
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