Real estate in new buildings from developers of UAE
Resale property from owners in UAE
Commercial property in UAE
UAE. Hot real estate deals
Real Estate in the UAE
Location, climatic conditions, and economy
The United Arab Emirates (abbreviation UAE) is a country located in the Middle East, on the Arabian Peninsula, consisting of seven emirates, each is a monarchy: Abu Dhabi, Ajman, Dubai, Ras al-Khaimah, Umm al-Qaiwain, Fujairah, Sharjah. The coast of the UAE is bordered by the waters of the Oman and Persian Gulfs.
The climate is tropical desert, hot and dry. The temperature in summer is about +45-50°С, in winter it is +18-25°С, it is cold at night (there are frosts). It rains mostly in November through May.
The country's economy is represented by trade, production and sale of gas and oil. Its rapid development is associated with oil, but foreign trade operations also play an important role due to a highly organized transit transport infrastructure (there are several airports, seaports, and advanced telecommunication technologies). Huge investments in modern desalination plants make it possible to meet the needs of the population; they also plant trees that transform the desert area. The country's government is taking measures to diversify, realizing that hydrocarbon reserves are finite: construction, tourism, trade, and agriculture are developing (strawberries are exported). The business atmosphere is influenced by climate, religion, and historical traditions. In April 2022, a venture fund was created in the country, the purpose of which is to finance startups and attract investors from all over the world.
The real estate market in the UAE and the prices (where it is better to invest)
The processes taking place in the UAE real estate market since the beginning of 2002 cannot be characterized any better than boom. The rise is due to high liquidity, low interest rates and a significant increase in migration to the UAE. Despite headwinds caused by inflation and the pandemic, demand for real estate in the UAE is growing, especially for residential assets among wealthy investors. The rapid increase in sales is due to the influx of foreign buyers. The main foreign investors are representatives of Russia, Australia and Great Britain. At the same time, it is worth noting the large-scale influx of Russians leaving their country in search of opportunities for a normal life and doing business.
Residential real estate in the UAE is especially interesting for elite objects: villas, houses, apartments in residential complexes with sea views, within walking distance from comfortable infrastructure. Customer reviews confirm the compliance of new buildings with building quality standards. Investors are interested in buying a variety of types of real estate for the purpose of renting out, as this type of business is reliable and provides high returns. The sale of real estate in the UAE is regulated by the current legislation, the procedure for making transactions is transparent and reliable.
According to the latest data, investors in the Emirate of Abu Dhabi are showing particular interest in the suburbs of Al Ghadir, Al Reef, for the purchase of low-cost apartments and villas. Wealthy buyers prefer luxury real estate in the center of the capital, in coastal areas, on the islands of Al-Rim, Yas, and Saadiyat.
The price of real estate in the UAE in some popular areas of Abu Dhabi is as follows: the cost of studios in Al Ghadir is on average 95,000 USD, the cost of one and two bedroom apartments is 140,000 USD and 195,000 USD respectively. Studios in Al Reef are 130,000 USD, one and two bedroom apartments are priced at $170,000 and $210,000 respectively. Housing is also popular in the Emirate of Dubai, with prices up 15.3% year-on-year in March 2022, and further increases are now being noted.
The price of land plots varies depending on the emirate, location, infrastructure, in particular, in Dubai, it can cost 30,100 USD per square meter or more.
The cost of real estate in the UAE is constantly growing, so only up-to-date information can be useful.
Property types for sale
- residential (apartments in apartment buildings, including duplexes, penthouses, detached houses, cottages, villas, mansions, and townhouses);
- commercial: manufacturing (industrial enterprises), trade (shops, shopping centers, and supermarkets), hotels, warehouses, offices, etc.;
- land plots.
Real estate website in the UAE
It is safer to use the information of experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full catalog of the real estate for sale in the UAE.
Buying real estate in the UAE by foreigners (nuances)
Foreign citizens have the right to buy real estate in the UAE, but with restrictions on a territorial basis. Only citizens of the United Arab Emirates and the countries of the Persian Gulf can purchase objects in the emirate of Dubai.
Investing in real estate in the UAE is an expensive, highly liquid investment in a country with the richest resources, colossal economic opportunities, developed infrastructure, the possibility of obtaining high income from resale or providing real estate for use under a lease agreement.