The world has gone through many issue and criticism but after the conduction of general election, the country has now back on track of successful growth and stabilized economy. These things will surely benefit the real estate and housing market to gain considerable momentum back in the upcoming years. Now that situation and market activity have slowed down, the lower mortgage amount is paving the path for foreign investment, especially among UAE expatriates and nationals.
Now that the oil prices in the Middle East are facing decline, the Emiratis are more inclined to buy off plan property in dubai. The investors are planning to diversify their portfolios in various areas. Furthermore, the low rates of land and rising rents are also to reasons to attract UAE residents in Wales and England.
A large percentage is comprised of expats who are interested in alternative investment as the Dubai real estate has become unstable. Emiratis are also enjoying visa-free access to the land of which made the cross-border purchasing of properties reaching skyrocket.
For the people who want to buy property in Dubai - Herald Land has jotted down few tips to make the process fraud free
Decide your preference! What is the type of land you would like to invest in? Take consultation and find out the option suited you the best. Consider what you actually want to achieve from this. Is it a home for your family, you are willing to spend money on, or you are in search of capital growth and rental income?
Research about the market and the various types of tenant available for rental income.
Manage and organize your funding. Check out if you have enough cash to buy it on spot or you require a mortgage. Discuss the mortgage with your real estate consultant because expatriates are allowed for limited financing options. The interest rates in the are record low right now, but they will rise in coming months.
Also, review your tax position to make sure if you have to provide tax on the rental income you get.
Check you legal stance to ensure that the tenancy contract can easily be drawn up professionally. For becoming an authentic landlord, various requirements are demanded legally. These may include tenancy deposits and gas safety certificates.
Remember to have an exit strategy. Discuss the sort of return you have in mind and what are the options to sell the property.
Current devaluation and deflation of the euro has increased demand for European property across the market and GCC, Middle East and UAE-based dirham buyers as who have an edge due to currencies attached to the US dollar, are comparatively in a better financial position and wealthier to invest. Consult Herald Land, the best real estate firm in Dubai to buy property without any worries of deception.