Buy Property in UAE

The UAE has become a popular location for people to buy real estate in the last few years. There’s something for everyone here, whether you want to live the high life in Dubai, enjoy the culture in Abu Dhabi, or relax in Sharjah.

But what is it about investing in real estate in the UAE that makes it so appealing?

A Market That Is Growing and Has Global Appeal
Dubai and Abu Dhabi are two cities that have risen quite quickly. There are now modern skyscrapers, coastal villages, and world-class infrastructure where there used to be primarily desert. This quick growth has attracted investors and buyers from all around the world.

The many different types of properties available also make it more appealing. You may discover anything here, from cheap apartments to beautiful villas in guarded communities. And a lot of these homes have pools, gyms, and parks right in the complex.

No Taxes on Property? Yes, really
The tax position is one of the main reasons individuals hunt for real estate in the UAE. There is no annual property tax or capital gains tax here, unlike in many other countries. That means more of your money stays in your pocket, whether you’re buying for personal consumption or investment.

Opportunities for Residency
Here’s another good thing: if you put a particular amount of money into real estate (typically around AED 750,000), you could be able to get a residency permit. People who wish to reside here or come often without having to get a new visa all the time will really like this.

High Rental Returns
The returns can be very good if you want to buy and rent out. Some places have rental yields of 6% to 8% a year. There is always a need for suitable rental homes because so many people move to locations like Dubai for job.

Easy to Buy (But Do Your Research)
In the UAE, buying property is usually easy, especially in Dubai. However, you should only work with real estate agents you trust and make sure that everything is approved by the right people, including RERA (Real Estate Regulatory Agency).

In many locations of the UAE, foreigners can acquire freehold property, which means they own it completely. You can also choose to lease the property for a set number of years, usually up to 99.

Also, banks in the UAE do give home loans to people who don’t live there, but you normally need to put down a good amount of money and have good paperwork.

A Few More Things to Think About
You don’t have to pay property taxes, but you should still know about other fees. For instance, service or maintenance costs are payable once a year and depend on the size and type of property.