Dubai is renowned for many things: a great environment for foreign entrepreneurs, excellent leisure and entertainment opportunities, a high standard of living, an ever-expanding job market, etc. But for many, the region epitomizes the ideal real estate market. Construction here doesn’t stop for a minute. Every year, new buildings are added to the magnificent buildings that already exist, strikingly luxurious, using the latest materials and technology, and with comfortable layouts. Let’s find out if it’s worth buying an apartment in Dubai or if renting will still suffice.
What is the attraction of Dubai to live in?
First of all, Dubai is the city of the future. Tall skyscrapers, a mass of offices of the world’s leading companies, and a huge flow of tourists speak volumes about its development and promise. In other words, to own property here is to be successful. Almost everyone would agree with that. Foreigners have long had the right not only to rent properties for their own or work purposes but also to purchase them. Buying a flat, a villa, or a commercial building in a city that is growing by leaps and bounds is a worthwhile investment in your future.
In this country, you can carry a million dollars in your hands at night and be completely safe. The crime rate is extremely low. Here it is impossible to imagine a situation when something is taken out of your pockets in public transport, or they try to “catch” you in a dark alley. The police also work extremely efficiently. The population is very calm, balanced, and sensitive. Even if a person is in a hurry, he will still help you or tell you. Apart from the obvious advantages in real estate, it is also safe to refer to other factors that play just as much a role in the decision to invest in Dubai.
Buying real estate
Foreigners are allowed to buy property in Dubai in freehold areas. These include the most popular areas of the city: Dubai Marina, Downtown, Jumeirah, and Creek area, as well as many other neighborhoods, including the green suburbs. If you buy apartment in Dubai worth $205,000, you can get a residency visa for two years, which can be extended as long as the property is owned.
For larger investments, foreigners are granted a UAE Golden Visa for up to 10 years. If your plans and budget allow for such an operation, it’s worth a try. The country is only in the initial stages of development. Audiences will still come to this market more often. At the very least, the tourism part of the business is already very established. So if you are not planning to live permanently in Dubai, you are free to rent out. This will bring you great dividends.
Rent an apartment in Dubai
Housing in Dubai can be rented quite easily in two ways: through a real estate agency and with the help of websites for renting accommodation. If you are traveling here for the first time, the easiest way to find accommodation is to use airbnb.com. This is a popular listing platform for places to rent. With the help of this resource, you can rent an apartment, room, hotel room, villa, etc. If you are planning to stay for a long time, you can even negotiate with the owner of the property. In general, Dubai is not a very comfortable rental housing system directly for those people who rent an apartment for a long time.
The inconvenience is that it is often necessary to pay the rent one payment at a time, i.e. one year in advance. It is possible to pay by 3-4 checks, i.e., you have to pay for 3 or 4 months in advance. Normally, the landlord is responsible for registering the lease. There are times when he may delegate this responsibility to a real estate agent. In practice, however, the tenant can carry out the procedure themselves. You must double-check that all points have been made:
- deposits;
- contract terms;
- amount of rent, and so on.
Top Dubai areas for apartments
Whatever you choose to do, buying or renting an apartment, there are several places in this region where you should look out for. Let’s look at them in a little more detail.
- Downtown Dubai
This area has a well-developed residential and transportation infrastructure. There are many stores and restaurants, a subway line, and bus routes. There is a small green park in the center of the neighborhood. Downtown has easy access to the main business centers of the city. In principle, all aspects speak in favor of the area.
- Business Bay
This area is quite attractive. You can see your subway station here. It should also be said that most buses pass through the area. You will be able to get to almost any part of Dubai. Be sure that even young couples and families choose Business Bay. Here you can see quite several different circles and kindergartens. That is, children up to 7-8 years old will have something to do. But unfortunately, there are no schools available. You have to go to other areas.
- Dubai Marina
Dubai Marina has many residential and commercial buildings, as well as the Marina Mall and the 7 kilometers long Dubai Marina Walk. The beach is within walking distance. The area has two metro stations and bus and streetcar routes. This prestigious area is very convenient for life: within walking distance of any residential building, there are supermarket chains, local grocery stores, gyms, beauty salons, clinics, and kindergartens.
Conclusions
To summarize, it should be noted that the decision to rent or buy a home is entirely up to the individual. There are certain visions and plans under which such actions are planned. Also, much depends on the budget that a person can afford to spend. Therefore, it is all individual. In general, Dubai is the city of the future. If you have the financial capacity, it is worth trying to live there and, as a result, buying an apartment. There are areas where it will only go up in value. Don’t doubt it.
