So over the past few years, the UAE has experienced astounding growth in every area. Due to the increased maturity of Dubai’s real estate market, it has become a popular destination for expat families and companies. In a recent study conducted by Bayut.com, 52% of respondents said that when compared to equities and gold, investing in real estate in Dubai is the greatest choice.
While buying property in Dubai might be the greatest option, many people, particularly young couples and brand-new families may find it intimidating. Let’s look at a few of the factors that a young couple should take into account when purchasing real estate in Dubai.
Determine Your Purpose of Investment
Discovering the goal of your investment will serve as your guiding principle. Therefore this is the first thing you should do when assessing property investment in Dubai.
Is it your intention to temporarily save some of your income? Or would you want to find a house in the UAE to stay there permanently? If the first option is correct, purchasing property in Dubai may be more complicated but feasible if you possess the necessary funds. Remember that you will have to make down payments and an equivalence-based monthly installment (EMI). If you don’t intend to remain in Dubai for more than five years, look for a home you can rent out in case you decide to go and sell when it is in your best interest financially.
Purchasing a house is quite beneficial if you want to live in the UAE for a long time. You can’t go wrong when it pertains to the future of your family because the majority of Dubai’s residential zones offer local access to all services and facilities.
Why Should I Buy Property and Not Rent in Dubai?
The investment kind should be taken into consideration after assessing the investment’s goal. Affordability and term in Dubai are two critical considerations when deciding whether to rent or buy real estate in Dubai.
According to experts, paying rent often consumes a minimum of 40% of a resident’s salary. Therefore, consider that you would need to set aside a sizeable amount of your income to pay rent when considering renting any property in Dubai. Rents have a tendency to rise and fall based on the market, which might make saving less likely if you rent. It’s crucial to weigh the pros and downsides of renting villas and apartments on a short-term vs. long-term basis.
At the present exchange rate, a one-bedroom flat in Dubai typically rents for between AED 50,000 and AED 60,000 per year, and the less expensive one-bedroom flats start at AED 35,000. A larger budget is necessary to rent a villa in Dubai, where annual rates for a 2-bedroom villa run from AED 100,000 to AED 160,000, based on listings on some websites providing real estate services. However, there is another way too, which also helps you get the proper term that you certainly need, and it is by acquiring real estate or corporate law services in Dubai.
Choosing the Right Area to Invest
For anybody wishing to invest in Dubai real estate, picking the appropriate property is crucial. Some of the greatest places in Dubai to support and provide a lifestyle ideal for young couples with all the facilities. The two most popular properties when investing in real estate in Dubai are villas and flats.
Apartments are ideal for couples that want smaller living quarters, have modest family plans, or won’t be in the UAE for an extended period of time. You won’t have to bother about maintaining outside space, and you’ll save money on extra expenses like air conditioning. You won’t have to worry about the upkeep of shared areas like the gymnasium and swimming pools because the administration will be in charge of the building itself.
Properties in Dubai Marina, Downtown Dubai, and Jumeirah Lake Towers offer exquisite apartments that offer precisely that if you and your companion are seeking somewhere with high-rise views and vibrant nightlife. Apartment buildings in Jumeirah Village Circle (JVC) and Discovery Gardens are excellent places to invest in if you prefer a more family-friendly atmosphere, thanks to the peaceful neighborhood and surrounding vegetation.
For couples that want larger living areas and have ambitions to live in the UAE as well as a long-term family, villas are a preferable alternative. One of the largest benefits is that you don’t have to grab your stuff and head to the community park; instead, you can open the doors when the weather is nice and let the kids play in the garden. Arabian Ranches, Al Furjan, and Mirdif are some of the nicest communities in Dubai, with villas demonstrating all the conveniences.
The Final Takeaway
In conclusion, investing in Dubai real estate relies on what you and your partner find to be the most practical. Make sure you spend some time and put just as much effort into weighing all your choices before making any commitments. The best decision is well-informed, and we hope that the real estate investment guidance provided here will assist you in deciding to invest in Dubai real estate.