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What to consider before purchasing a villa in Dubai

In Real Estate
June 01, 2020
villas for sale in dubai

Dubai has become one of the best destinations for visitors to enjoy a beautiful sunset over the desert and is often referred to as the Golden City, suitable for holidaymakers. If you are a frequent visitor, you may prefer a holiday home you can stay in while you’re here. As such, you should shop around for a villas for sale in Dubai. However, we’ve listed a few things you need to consider before committing to a purchase.

Needs vs. wants

Before purchasing a villa for sale in Dubai, you need to weigh up your wants and needs. Make sure you view and compare the different areas and communities and carefully consider the quality, type, size, and amenities offered in each villa too. This is an important part of the process to ensure you buy a property that meets your needs perfectly.

Buy as an expat

A few decades ago, regulations in Dubai denied non-citizens from purchasing a property. However, the revision of the law in 2000 meant non-citizens could buy property as expats. Before buying a villa in Dubai, ensure you turn to real estate experts to learn more about expat rules and regulations.

Understand vital terms

If you are a foreigner in Dubai and are looking for a villa to buy, there are some terms you need to understand. Among these are leasehold and freehold. Leasehold means a property can be leased from a freeholder for 99 years, irrespective of the individual’s nationality. On the other hand, freehold means taking absolute ownership of the property outright, which includes the land it stands on and its structure. Expats are not allowed to own properties in non-designated areas in Dubai (freehold), so long-term leases are typically the better option.

Check the market trends

It is essential to find out more about the current and projected market trends. Ask the real estate agents you are working with to determine the historical pattern of selling prices in the area you’re considering – villas for sale in Palm Jumeirah, will most likely vary in value compared to villas for sale in Mudon.

Check the charges

Any real estate transaction will come with fees, but these can vary. Talk to your agent before committing to a purchase to ensure you understand all the rates involved. Remember, real estate agents in Dubai will also charge a commission, which is 2 per cent of the property’s purchase value.

The above are some of the essential guidelines to know before buying a villa in Dubai. Call us today for more information.