Dubai: Tour and invest 

Dubai: Tour and invest 

There are many touristy places to visit in the world. If you want a warm climate with beautiful culture, consider Dubai. Dubai is a scenic Middle Eastern city in the UAE. It has many historic sites, rich cuisines and amazing souvenirs to buy. As a tourist, you’re not limited to visiting sites. You can participate in activities too e.g Desert Safari. You can also shop in any of Dubai’s big malls.

Tourism aside, there is more you can do in Dubai as a foreigner. One is investment. You don’t need to live in Dubai before you can invest. Real estate in Dubai, remains one of the best industries to invest in. There are no special requirements such as residency permit before you can buy a house in Dubai. It is so simple that anyone can buy a villa for investment in Dubai

Before investing; what you should consider 

Investing is a big step. It involves you putting a sizeable chunk of your money into something for profit. While real estate investment is advisable for high returns, there are some things you should consider before dabbling:

  1. You need to review your budget. The money you have for investments, determines how high your returns will be. Although a small budget is not a limit, try to invest a lot.
  2. Think of how long you may have to wait. If your ultimate goal is to resell, then you’ll need to play the long game. You may have to wait for a couple of years for its value to significantly rise. However, if you’d prefer regular returns then you know you’d rent your house out.
  3. Consider the location. This is important especially if you want to rent out your villa. Do research. Find out where villas are more in demand. It is better to have several small villas in a place with high demand for rent than to have one large villa and no one to rent it to. Also, if your target audience for tenancy is tourists, you should buy a place close to an attraction. If you’re more interested in families, then go for residential communities. These residential communities should have infrastructure that is important to every family.
  4. If you’re buying an off-plan villa, check the record of the developer. Although there are often estimated times for completion, try to buy from developers who have a history of meeting up. Ensure that they have completed other houses at the promised time. This is to avoid being disappointed by late completion.

The how of investing in a Dubai villa 

Houses in Dubai are no doubt appealing. However, you should weigh your options before you buy. There are two main categories of real estate you can invest in. They are;

  • DEVELOPMENT VILLAS: These are villas that are still under construction. Usually, a villa goes for sale while it’s still under construction. You’d get to see the plans for the building and sometimes even make a few changes after purchasing it. Buying a house under construction is often cheaper than buying a completed villa.
  • COMPLETED VILLAS: These are ready-for-moving houses. They are finished and you can move in immediately after you purchase them. Completed houses can come furnished or unfurnished. Although they are not as cheap as off-plan villas, you get to use them immediately after buying. With a completed villa, you can immediately move in or rent it out.

Before you buy a house in Dubai, you need to research. Find out the current real estate trends. Locate the areas in Dubai that might suit you and of course, what kind of house you want to purchase. You will also need a bank account in Dubai so that you can make transactions in the local currency. Assess your budget before choosing a villa to buy. There’s a house within budget that suits your needs. Reach out to a registered real estate agency to help you with the process. It is also advisable to hire a lawyer at this stage. You should also note that you can negotiate the price of the house you want and get it for cheaper. When you and the seller agree, a transfer of ownership becomes necessary to register you as the new owner under Dubai laws. To cap it all, you need to be careful when buying houses to avoid getting scammed. Buy from developers and real estate agencies that you’re sure are credible.

Does Dubai have a uniform villa price? 

The short answer to that question is no. According to Emirates.Estate prices of homes in Dubai vary. This is based on the neighborhood, how developed the villa is, the size of the villa, proximity to a major attraction and so on.

There are some communities in Dubai, known for their exclusivity. Some for their incredible amenities. These types of communities often feature higher-priced villas. Also, the size of the villa is a factor. It is only reasonable that a 6-bedroom villa would cost higher than a 2-bedroom villa. The major thing constant among all these villas is their qualities.

Owning a home in Dubai 

Due to the popularity Dubai has, many people may think it is not easy to own a home here. Dubai may seem like a high-profile metropolis, but it is also a welcoming city. Foreigners rush in yearly, either to work or to tour.

You don’t have need to tour Dubai. You don’t even have to be an expat. You can own a house in Dubai simply because you want to. This house may serve as a source of money or an asset to you. It may also be a holiday home for a summer getaway, either by yourself or with family. You can go for whichever you want as owning a home in Dubai is easy.

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