A GUIDE TO FINDING THE BEST PROPERTY IN DUBAI AS A FOREIGNER

Dubai is an excellent spot for real estate investment and the ultimate destination to find a property in Dubai. However, as a Foreigner, it is pretty hard to determine the exact trends of another country and find the most suitable property to purchase. It's also tricky to find the best property finder in Dubai, as it's a vast area with countless real estate agencies and brokers. While looking for a property, one must consider multiple factors, such as localities, laws, reforms, forecasted sales, and the real estate market trend. All of these factors need to be reevaluated by local experts so they can provide you with the most profitable property according to your budget.

But don't you worry: if you are confused, just read this article to gain insight on finding the best property in Dubai as a foreigner. We will address the primary details that foreigners should know before buying a property in Dubai, so consider this read as a guidebook towards your real estate goal!

1. Freehold Vs Leasehold.

The first aspect of finding a home in Dubai is looking into their laws regarding purchasing properties. Freehold is mainly the property that can be sold to locals and foreigners and gives exclusive ownership rights to the buyer. It's a transaction that secures the buyer a genuine control over rental profits and provides owners the right to conduct their business as they prefer: buy, sell, and renovate the property as they please with no setbacks or restrictions.

On the other hand, leasehold transfers leasing rights to the purchaser for 33 to 99 years. In this way, the property buyer does not enjoy complete ownership but still gains the right to rent the property and earn profits. However, the owner or state still holds the ultimate hold on the property; therefore, this option is looked upon with more thought. Nevertheless, most investors prefer freehold properties, especially foreigners and ex-pats, as the purchase conditions allow more flexibility, clarity in forecast statistics, and definite ownership.

Clearly, as a foreign investor, it is vital for you to fully grasp the concept of both these so you can opt for the best type of real estate property and know the advantages and disadvantages of the settlement.

2. Verification of Foreign Investors

It's crucial to be informed of the necessary documents you need before purchasing a property in Dubai. Luckily for you, times have changed, and foreigners don't need a local sponsor to be able to find a home in Dubai. Due to the detrimental times of the coronavirus, the government released new reforms that can help boost the economy and the real estate market back to normalcy. One of the primary benefactors of these reforms was foreign investors, who were also granted a golden visa.

The Golden Visa enables foreign individuals and potential investors to have full ownership over real estate properties and encourages an influx of people who desire to live in Dubai and build their dream life. It also brings in a ton of talented individuals with new sets of skills and expertise into the market of UAE, producing their economic growth.

3. Know the best place to find properties in Dubai

Looking at an endless list of properties can further confuse a person for no reason. It is always better to find people who can navigate your path towards the ideal properties that meet all your requirements and conditions. Inspire Real Estate is a renowned agency that advises and counsels investors and people to find the perfect property for themselves. They are also a reliable and the best property finder in Dubai.

They have a group of highly skilled real estate experts and experienced brokers who understand the trends in the Dubai market quite well: they can highlight the properties that are made for you and give you a profitable investment! Therefore, foreign investors should seek this opportunity and find a solution for their real estate query with a familiar agency based in Dubai!

The list below also consists of the most popular property locations in Dubai!

Dubai Marina:

Dubai Marina is an ideal city manufactured on the coastline of the Persian Gulf. The locality is built to attract tourists and locals who love the beach and want to live a balanced lifestyle between entertainment and family-centric. Therefore, they place a variety of facilities such as towers, luxurious villas, and apartments with multiple bedrooms. However, the area's biggest attraction is the exquisite transport system, beautiful infrastructure designs, brilliant retail service, and the famous Dubai Marina Mall.

Jumeirah Beach Residence:

Again, a brilliant option for foreign investors who want a residential unit that can give them an accurate picture of living in Dubai: a glamourous nightlife with a busy day. The famous Jumeriah Palm is known for its never-ending vibrant lifestyle and a fantastic set of facilities like every villa having its private beach access alongside a transport system that can link them to central Dubai in a few minutes.

Business Bay:

As the name suggests, this area is famous for its residential units and business clubs for international and professional meetings with clients. As Dubai's economy grows, so does the influence of the business sector. Thus, this grand artificial city is built on the land of Dubai Creek, which was previously the central place for all harbor trades. It's an ideal place to buy property if you seek a more business-focused residential area!

Dubai Sports City:

A sports lover's dream and the area has excellent residential units built around a magnificent stadium, cycling tracks, and excellent sports-related facilities and activities. This is perfect for foreign investors as the region is quite a hit amongst tourists and locals that love sports, so the rental profits are always expected.

To Sum Up:

If you are looking to find property for rent in Dubai, then these locations are an ideal option as the real estate market experts have forecasted that the rental rates of properties will rise in the upcoming years, and the sale price will also gradually increase as time passes by. Therefore, undoubtedly it is the right time to invest in the Property market of Dubai.