The Middle East was a doubtful investment destination for foreign entrepreneurs many years ago. Europeans, Americans, and Asians were confused by the instability of the region, the limitations faced by foreigners due to the religion of the locals, the lack of infrastructure, the unfair legislative framework for foreigners, etc. However, in recent years the region has undergone dramatic changes. Today, the emirate of Dubai in the UAE offers exceptional conditions for real estate buyers. 3 bedrooms apartments in Dubai Hills take the central stage in terms of rental profitability and pleasant stay. But how to perform the deal smoothly and take advantage of the purchase? Let`s find out in this article.
What is special about Dubai Hills?
Dubai Hills is a neighborhood that is characterized by a well-developed transportation system. It is convenient to get to popular attractions of the city and frequent places you visit.
Low level of air pollution and good ecology are other important features of the area. Lavish greenery, abundance of parks, and numerous sports facilities create exceptional conditions for pleasant staying.
Moreover, we cannot miss absolute safety in the area and mutual respect. There is no hostility towards foreigners. Of course, foreigners should not violate the established norms of behavior and local traditions.
Why do foreigners buy real estate in Dubai Hills?
Buying real estate in Dubai Hills is possible for several reasons:
- For personal residence.
Buying an apartment worth more than $205,000, a foreigner gets a comfortable home in the Emirates and obtains the right to apply for the investor visa that allows living in the country for several years. Subsequently, the residence permit can be extended.
- For resale.
Many foreigners from all over the world are investing in real estate in Dubai Hills. Due to constantly rising prices, apartments can be purchased and sold a few years later. In such a way, a homeowner can make good money on the price difference. In addition, it is possible to buy a home in an unfinished house, and after receiving the keys, put it on sale. During the construction period, the cost of such an apartment will grow by 30-40%.
- For leasing.
Another good way to invest is to buy an apartment and rent it out. On the one hand, you invest in a reliable market, which is not threatened by collapse or depreciation. On the other hand, you can receive a stable passive income. The apartment can be rented out only in time of your absence, so that you can use it during vacations.
What real estate is available for sale in Dubai Hills?
The upscale gated golf community Dubai Hills provides one to three bedroom apartments for expats and investors for their full ownership. The price depends on many characteristics, such as number of rooms, footage, layout, etc. You can find a one-bedroom apartment for AED 765,000 and a three-bedroom residence at more than AED 4 million. A wide range of apartments and prices gives foreigners an opportunity to choose the housing unit according to their budget and desire.
What to recommend to real estate buyers?
There are lots of important issues worth double checking when buying real estate abroad. To make the process more facile, we recommend paying attention to the next pieces of advice.
Do not avoid using the help of an intermediary
According to the legislation of the UAE, a transaction cannot be carried out without the participation of intermediaries. The primary market is served by licensed companies, which leave their details in the contract. Be sure to check the license of the firm that is selling you the property, and make sure that the transaction is legally secured. Address the certified professionals to check all the documents. The agents from AX Capital work only with updated information and premium quality housing to provide positive experience to their clients. They will assist in choosing the optimal apartment that corresponds to the goal of purchase and has great prospects. Besides, there will be no problems with legal issues as the agents have extensive experience in a huge variety of deals.
Prepare a substantial amount of money
And entrepreneurs, who are engaged in business in Dubai, or work as employees in good positions, tend to buy housing, so as not to live in rented apartments. That is why there is no cheap housing in Dubai Hills. However, buyers will benefit from the interesting peculiarity of the local real estate market – the larger the area of the proposed housing, the lower the cost per square meter. The cost does not seem so high, given that almost all residential properties are delivered with full repair, not just bare walls. The buyer can immediately move into the purchased housing.
Manage the property according to your wish right after the purchase
Buying property for personal needs, you can move in right after the delivery. If you have invested in apartments for leasing, there is no obligation to look for tenants and organize renting out by yourself. On the whole, there are several ways of managing the apartment after getting the keys. You can immediately start selling it to make money on the deal, you can rent out the house or apartment, as well as short-term and long-term. Or you can address the special agency and they will take responsibility for your property.
The key takeaways
In the process of buying an apartment abroad, it is easy to miss important points, because the long-awaited serious deal and the anticipation of moving into a new house is a little dizzy. However, you should try to take into account all the nuances, because some mistakes will be difficult or impossible to correct after the papers are signed. So, do not rush to sign the contract before checking all crucial points. All the potential buyers face the issue of choosing the suitable apartment. There is nothing to worry about if you contact a reliable real estate agency.
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