Dubai, Jumeirah Bay Island
Dubai, Nad Al Sheba
Dubai, Nad Al Sheba
Dubai, Al Mamzar
Dubai, La Mer
Dubai, Pearl Jumeirah
Along with investing in residential and commercial real estate, the purchase of land in Dubai is gaining more and more popularity. The price segment for land plots is higher than for many other objects, but the potential profit is also much higher. So a residential plot will cost from $ 1 million, depending on the area of \u200b\u200bits location. There is no upper bound on value.
Land in the UAE is a profitable asset. the following number of advantages can be distinguished when buying it:
a stable economy and a high standard of living guarantee high liquidity;
prices are more affordable than in many European and American major cities;
the active development of Dubai leads to an increase in demand and an increase in prices, respectively;
transparent legislation in the acquisition of real estate.
At the same time, the owner can independently hire people to build his dream villa, entrust this task to a construction company, or even postpone it for any period, renting out the land or waiting for better times for resale or construction.
Land for sale in Dubai has been available to foreigners since 2016. Plots of various purposes and sizes are on sale. Typically, a distinction is made between commercial and private land. The purpose of the site can be viewed by the cadastral number on the state website or you can find a suitable site through an agent.
Particularly attractive is the fact that it is not necessary for an investor to have the entire amount at once. Loans for the purchase of land are popular. In this case, the first installment most often ranges from 5 to 10% of the total cost, the second installment should usually be paid only after six months, and subsequent installments at even longer intervals. Often the third installment is expected 8-10 months after the second. However, not everyone can get a loan. For citizens of other countries, UAE banks have established the following rules for applying for a loan to purchase land in Dubai:
the investor is at least 21 years old;
the average salary of at least $2,700 per month;
the duration of the loan should not exceed 25 years.
In addition to the prescribed rules, there are also nuances that can complicate obtaining a loan. For example, there is no official upper age limit, but people over 60 are usually reluctant to give a loan.
Favorable loan conditions and ever-increasing real estate prices also attract people who want to make money on the resale of land without being able to pay the full amount of the loan for the plot. They purchase land and put it up for sale after paying a few payments. However, if finances allow you to pay the entire amount, then the investor can get much more profit.
After buying land in Dubai, the owner can dispose of it independently or rent it out. In addition, he has the opportunity to build his own building there for his own use or for rent. At the same time, you should think about your goals even before buying a plot, since private land is not suitable for starting a business, and vice versa.
Like all real estate transactions, the sale of land in Dubai goes through the Land Department. According to the laws of the UAE, all land initially belongs to the state or a state organization, therefore, in order to obtain ownership of it, it is necessary to conclude an agreement with the department. A person can apply directly to a state organization, collecting all the documents on their own. However, it is much easier to entrust this work to a professional broker who will take into account all the wishes of the client, select a suitable object and check all documents in order to avoid misunderstandings and paperwork in the future. In Al Hayat Almushreqa real estate, agents can easily select land plots in accordance and carry out a transaction with maximum comfort for the client.