Favorable forecasts for economic growth in the UAE are forcing not only international companies, but also private investors to look for options for purchasing property in Dubai. In this article, experts will tell you how to choose the right property in Dubai at https://dubai.etagi.com/en-us/zastr/r-palm-jumeirah/ for permanent housing or profitable investment.

Dubai is one of the most economically and politically stable regions

In 2023, Dubai's economy grew  thanks to the active development of the industrial sector, logistics solutions for the delivery and transportation of goods, and the IT industry. 

The emirate's economy is expected to grow even faster in the coming years thanks to the development of e-commerce and the hotel and restaurant business.

The country's government is pursuing a targeted policy to increase the economic attractiveness of the region and is developing additional programs for foreign investors.

Dubai can easily be called a tax haven. There is no taxation on most activities. There is no personal income tax, income or real estate taxes, and VAT is 5%. Only organizations whose activities are carried out in the oil or gas sectors are subject to taxation, so Dubai is well suited for investment. 

After the lifting of Covid restrictions, the flow of tourists coming to Dubai doubled - more than 14 million guests were received by the city in 2022. People are attracted by beach holidays, exclusive shopping opportunities, a variety of entertainment, and a high level of security in the country. 

Not only the tourism industry, but also the real estate market has shown significant success. The low crime rate, as well as political and economic stability, attract both investors and expats to Dubai who are thinking about choosing a property to buy.

How can a foreigner buy property in Dubai?

For foreign citizens in Dubai, there are several possible options for owning real estate:

• Ownership on a lease basis for 99 years can be carried out with permission (leasehold) or prohibition (usufruct) of redevelopment. Possible lease for 50 years with permission for redevelopment (musataha). Ownership by lease excludes a foreigner from the ability to dispose of the land on which the property stands.
• Full ownership implies ownership of the structure and the land underneath it. When acquiring an object for full ownership, there is no time frame, that is, full ownership is indefinite.

Since foreigners can select and purchase real estate in Dubai for full ownership only in special  freehold zones , more than 50 of them have been allocated.

If you have already decided on a list of your requirements for future housing in Dubai, you can think about how to choose a property that matches it. Freehold zones are located throughout the emirate, which allows you to buy a small studio apartment on the outskirts at an extremely affordable price, or a luxurious villa located in a green area on the coast.

Investments in the UAE economy are grounds for obtaining a resident visa. A resident visa allows you to live in Dubai, conduct business or employment and become a tax resident of the UAE. 

After an investor has selected and purchased property in Dubai or another city in the country worth at least 750 thousand AED (about $205,000), he will be able to apply for a three-year resident visa. To obtain a five-year visa, the purchase must be more than 2 million AED ($545,000). 

As a rule, in Dubai it is possible to choose real estate on credit with deferred payments for several years. You must first make a non-refundable deposit into the escrow account. Then 10% of the cost of the object is paid, and a year later another 10%. After putting the house into operation, it is necessary to cover another 20%, and the remaining amount can also be paid in installments. 

What determines the choice of area to buy a home?

You should choose an area based on your goals and your usual or desired lifestyle. Dubai has to offer areas that are vibrant both day and night. 

Noisy social life, as a rule, takes place in the nightclubs and beach clubs of hotels in Jumeirah,  Palm Jumeirah , Dubai Marina. These areas are located on the coast. They boast stunning views of the bay and long beaches within walking distance. There are offers of both small studios and villas designed for large families.

If you want peace and quiet, it is better to pay attention to green areas with developed infrastructure, built up with villas. Gated and guarded communities The Springs Dubai,  Damac Hills , Discovery Gardens provide comfort and privacy for all members of the communities. 

These communities have many shops, public swimming pools, playgrounds, pharmacies, and hospitals. Kindergartens and schools are open.

What Dubai real estate can be considered liquid?

There are many ready-made properties available for sale in Dubai, and new ones are constantly being built. How to choose real estate in Dubai with a high return on investment? 

When choosing, pay attention to the following aspects:

• Location can directly affect the attractiveness of a property  and its future profitability. Traditionally, residential areas near attractions and in areas with good transport links are in greatest demand.
• You should pay attention to city construction plans. In this way, you can choose a property that is currently located on the outskirts of Dubai, but in just a few years will become the center of a prosperous and inhabited neighborhood.
• The value of real estate increases as the property is ready.  The lowest price occurs at the pre-sale stage. How to choose real estate in Dubai on the best terms? Follow developer news about the launch of new properties. Do not be afraid that the building will not be completed: UAE laws are very strict for developers, so the percentage of projects that are not delivered on time is very small.
• When making a preliminary assessment of potential investment objects, you should pay attention to  the possibility of obtaining installment plans from the developer.  Interest-free installment plans are often offered.