Last Updated on July 21, 2024 by Nasir Hanif
The United Arab Emirates is attractive in the eyes of foreigners not only because of its comfortable climate. A high standard of living and comfortable conditions for doing business attracts ex-pats from all over the world. Dubai occupies a leading position in terms of the number of foreign citizens. The metropolis opens up wide opportunities for visitors, and it also allows you to profitably purchase real estate. The territory is being actively built up, so you can buy an apartment not only among ready-made housing, but also in the process of construction. Modern apartments are presented in residential development projects, such as Golf Views Seven City, MAG City, Palm Views and not only. The variety of offers makes it possible to choose an apartment or a villa in any of the districts of the city where ownership of property for foreigners is allowed. Let’s consider a number of points that are worth knowing for those who are planning to move to permanent residence.
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Why Dubai
The capital of the UAE is Abu Dhabi. However, it is Dubai that is widely known outside the state. The explanation for this is quite simple: it was here that the authorities for the first time allowed those who are not residents of the country to acquire property. In Abu Dhabi, such an opportunity arose later. Dubai remains attractive for foreigners for a variety of reasons:
- Affordable real estate prices.
- A wide range of facilities, from budget studio apartments to luxury villas.
- A steadily developing economy.
- High quality of life.
- No taxes on real estate and profit from rent.
- A simple scheme for obtaining visas. Registration is possible when buying real estate.
The disadvantages of living in the country are insignificant. The main one among them is the difference in cultures. The Arab mentality differs from the European one, especially in terms of drinking alcohol and the dress code. But for those who lead a cultural lifestyle, the existing restrictions do not have a significant impact on the quality of life. It should also be borne in mind that too hot a climate requires getting used to. Therefore, it is better to plan moving for permanent residence in the winter months. This will make it easier to adapt.
What you need to know when buying a property in Dubai
- A residence permit for the purchase of an apartment is not mandatory. The transaction can be made remotely or by staying in the country on a tourist visa.
- The acquisition of real estate does not open access to citizenship, but a residence permit for investment in real estate is quite enough for moving.
- Transactions with housing stock in the UAE are as transparent as possible. It is only important to use the services of licensed agencies, not dubious intermediaries.
Our assistance in buying real estate in the UAE
The real estate database from developers and local agencies is presented in Emirates.Estate catalog. The largest aggregator presents apartments and apartments in all popular locations in Dubai. Specialists are ready to help with the choice, as well as advise on all issues related to the purchase of housing and moving to permanent residence.
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