Property for Sale in Dubai is Everywhere You Look
Are you looking for a property for sale in Dubai?
Many are saying that this is the perfect time to buy a property in Dubai, as the property for sale in Dubai tag seems to be coming all over the place.
With more and more expats preferring to rent as opposed to buying a property outright, the prices of rents are skyrocketing and property ownership is becoming more attractive.
That said a typical price tag is not cheap in Dubai.
It is almost as expensive as property in downtown London and soon will become like Manhattan if not there yet.
You must have come across many ads featuring property for sale in Dubai.
Of late, such ads seem to have increased in their frequency as everyone wants to get in on the bandwagon and make a bit of money on the side.
There is nothing wrong with using your property holdings as an investment option as opposed to staying there. If you are looking to purchase a property of your own, the first thing you will need to do is to evaluate your reasons for wanting to do so. The purpose behind your purchase will define the locality you wish to purchase from.
Buying a property in Dubai for high returns is not the same as purchasing a residence as you would want a central location for the latter. The recent changes in the legislation mean that foreigners can now own properties in certain freehold areas of Dubai.
Previously all that the buyers were allowed was a contract of sale held by the developer as buyers could not own the property outright. Times have sure changed since then and now with development booming all over, this has become the perfect time to invest in a Dubai property.
One of the essential things that you would need to do in order to buy property is to get hold of a good real estate agent. Normally you end up paying 1% to 2% as agents commission. If you are investing in a property under construction, then you may have to pay 5% to 15% as deposit.
Remember that maintenance is often charged on the property and it can vary from one to the other. The best locations to purchase a property in are The Springs, The Greens, Dubai Marina project, Emirates Hills, Meadows and Arabian Ranches. Dubai properties come with a price tag of approximately $1,000 per square meter (as of 2007 and this number is fast increasing) and that makes for a hefty price tag. Some of these properties are provided stocked with all amenities, furniture and in certain cases, even with the help.
In the end, you will need to set a realistic target depending on what your budget is. If you are in the market for moderately priced properties then you need to be looking at the correct price range. The property for sale in Dubai tag may indeed be coming all over the place, but in the end you will need to make the decision as to whether investing in a property makes sense for you.
On the plus side, they are a good investment but on the negative front, they are quite expensive. But all things considered, they are some of the best investment options currently available in the market according to many real estate experts. On the other hand, skeptics like me will tell you that a bubble is about to burst.If you are interested in investing in Dubai, I highly recommend reading the Dubai Secrets guide to property investment in Dubai. It is a practical guide compiled by experienced investors in Dubai real estate.
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