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Housing in Dubai
Dubai is absolutely one of the most exciting cities in the world, and living in Dubai is an attractive goal for everyone who longs for a new residence abroad. Those who live in Dubai enjoy an extremely high quality of life, numerous tax advantages, and a fascinating mix of modern and traditional culture. Each year, hundreds of thousands of singles, couples, and families opt for a new, spectacular life in the desert metropolis on the Gulf.
If you decide to leave your old homeland and live in Dubai in the future, a variety of real estate options are available to you in Dubai. From modern apartments right on the sea to beautiful villas in green surroundings and spacious townhouses – Dubai truly offers everything you could wish for.
In recent years, Dubai has produced a multitude of modern real estate projects that impress with striking architecture and modern amenities. Many of the new residential areas are focused on sustainability and feature environmentally friendly infrastructure.
Currently, the most popular residential areas in Dubai include Downtown Dubai, Dubai Marina, Jumeirah Beach Residence (JBR), Emirates Hills, The Lakes, Arabian Ranches, Dubai Creek Harbour, and Bluewaters Island.
The rents in Dubai vary depending on the location, size, and amenities of the property. Similarly, the required investment for buying a property in Dubai also varies. It is essential to inform yourself about the different residential areas of Dubai beforehand to find the property that meets your needs and budget.
Renting in Dubai, Rental Agreements, and Security Deposits
If you are planning to rent in Dubai, it’s important to know that rental agreements are typically made for a period of one year.
The usual security deposit in Dubai is 5% of the annual rent, which must be paid by the tenant upon signing the rental agreement. At the end of the contract, the security deposit is returned to the tenant minus any damages and outstanding dues.
Rent payments in Dubai should always be made promptly, as there are strict legal regulations. After just one payment reminder and a 30-day grace period, the landlord is entitled to terminate the rental agreement and evict the tenant.
Renting in Dubai – Incidental Costs
Under the section “Cost of Living in Dubai“, you will find detailed information not only about the usual rents in Dubai but also about the types and amounts of incidental rental costs.
Additionally, as a tenant in Dubai, you should be aware that you are also responsible for the maintenance costs of the rented property. These costs include, for example, any necessary repair costs and maintenance expenses for air conditioning units and other appliances.
If you have questions about renting in Dubai, need comprehensive consultation, or desire our support on-site, we are here to assist you.
Feel free to contact us for a non-binding consultation.
The Best Location for Your Property in Dubai
The location of your property in Dubai should match your individual needs and personal lifestyle. Therefore, you should decide before starting your search whether you want your property to be in a lively or a quieter area.
You should also consider beforehand what kind of neighborhood you prefer, whether proximity to major roads is important to you, and whether you desire easy access to public transportation.
Additionally, consider the desired quality of infrastructure, the distance to kindergartens, schools, and universities even before you start looking for a suitable property in Dubai.
Buying Real Estate in Dubai
If you are considering buying a property in Dubai, you have the choice among modern apartments, spectacular penthouses, and luxurious villas with private beach access. In Dubai, everything is possible and available immediately if desired.
However, before you make a final decision to purchase a property in Dubai, there are several important factors you should consider.
Current Real Estate Prices in Dubai
Another important factor when buying a property in Dubai is your personal budget. As previously mentioned, prices vary greatly depending on the location, size, and features of the property.
Therefore, set a realistic budget in advance that also considers potential additional costs such as the five percent VAT, possible legal fees, and other charges.
Buying an Existing Property in Dubai
Buying an existing property in Dubai can be advantageous for you. On one hand, you can usually move into your new home promptly; on the other hand, the condition of the property can be inspected before purchase, potentially saving you from unpleasant surprises later.
In Dubai, there are no fixed price guidelines for properties, which means prices can vary from owner to owner. Moreover, negotiating the purchase price is often possible.
Typically, a major portion of the purchase price can be financed through local banks. Various banks also offer special financing options for the purchase of existing properties in Dubai. You should research different offers in advance to find the solution that suits you best.
Before you ultimately sign the purchase agreement for your property, you should definitely consult a lawyer in Dubai. Hire them to clarify all property rights and thoroughly review the purchase conditions and contract documents.
How to Purchase Your Property in Dubai
Whether you want to buy an existing property in Dubai or prefer a new construction. From years of experience, we know that purchasing a property in Dubai can be a complex affair. Given this, we also offer you our comprehensive support in this area.
Furthermore, we are happy to provide you with our long-standing contacts to reputable real estate agents, developers, and lawyers in Dubai to ensure that all your interests are protected.
Whether you want to buy a property in Dubai or prefer renting in Dubai – we at Privacy Management Group are always there for you and stand by your side in all matters concerning your dream property.
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