New buildings in Dubai
On the map
Dubai is the largest city in the United Arab Emirates and a deep-water seaport located on the shores of the Persian Gulf.
Why is it profitable to buy an apartment in Dubai in the new buildings?
Dubai is a gorgeous, technologically advanced city with a natural environment that doesn't favor it. Except for one circumstance: in 1966, oil was accidentally found here and it changed everything. A small port village, whose residents mainly mined pearls from the seabed, exchanging them for food, tools and clothing with merchants, has become a visual example of how one should live. This "miracle" was made possible by attracting investors. And also because the ruling dynasty showed perspicacity, realizing that the reserves of resources are not unlimited. The emphasis was on the development of the economy and tourism in a timely and consistent manner. This is the special dignity and splendor of Dubai. It is not so much in luck itself as in the wisdom of managing it.
In architecture, Dubai showcases both historical, traditional and contemporary objects. Narrow streets give way to ultra-modern highways. White sand beaches, incredibly clear waters of the Persian Gulf, fashionable boutiques with the scent of expensive perfume, a combination of Arab and European traditions - this is what Dubai feels like.
Yes, it's hot in here. The average temperature in August is plus thirty-five, and the average maximum is plus forty, but this is compensated by a well-thought-out and ubiquitous air conditioning system, besides, the winters are cooler. The average January temperature is plus nineteen. Precipitation falls mainly from February to March, from May to October there is no precipitation. And this will delight those who do not really like dampness, cold and rain.
And now about the main aspect for investors: many taxes have been abolished here, which has led to the emergence of world-famous companies in the city. The government thus stimulates the economy in every possible way, promoting new business initiatives and investments. That is why, and not for "beautiful eyes", that is, external beauty and technological highlights, the city has fully deserved the unofficial title of the city of tomorrow - it was simply made the most creative, prestigious and beautiful place on Earth. It's not so difficult if you have resources, a dream in your heart and common sense. Dubai creates incredible opportunities for luxury seaside relaxation and shopping. World brands present their products at low prices.
Interesting processes are taking place in the primary real estate market. In particular, the government is trying to balance the new housing market in order to avoid bubbles, but at the same time, it is putting forward many initiatives to increase demand. As a result, there are stable prospects for further price increases. Now that government involvement is helping to regulate the pace of new housing commissioning, experts say the time is right to buy real estate now. Obviously, real estate prices will not be fixed at the current level, since the city offers almost the most affordable housing in the world, being considered the best in terms of infrastructure even in comparison with New York or London - real estate prices are 4-5 times lower.
Residential complexes in Dubai offer a large number of housing units, built in compliance with the most advanced construction technologies. The offer of objects varies widely: from small studio apartments to large hotel complexes, elite properties.
The builders have significant experience and positive feedback on the quality of construction. The sale of apartments from developers is carried out on installment plan basis, various promotions and discounts are offered. New buildings in Dubai from the developers guarantee investor-buyer high-tech communications, sophisticated modern planning to the smallest detail.
Investments in Dubai real estate in the new buildings will bring growing passive income (rent, resale), which will remain quite high given the potential for real estate prices growth in this city.
Apartments in the new buildings in Dubai have a wide range of cost per square meter, from moderate to very high, with a good building quality.
You can buy an apartment in Dubai in the new buildings on any budget, taking into account material capabilities. According to the information provided by the real estate search engine GEOLN.COM, the minimum price per square meter of newly renovated apartment is $1,200.
Features of purchasing apartments in Dubai from the developers by foreigners
Citizens of any country have the right to buy real estate in the UAE, but with territorial restrictions. Anywhere in Dubai, only citizens of the UAE and the Persian Gulf can purchase objects.
In 2006-2008, a number of decrees were issued, thanks to which the list of free zones in Dubai was approved, where most of the territory has already been recognized as zones of "free possession".
Since 2006, foreign buyers of real estate in the UAE have received the same rights to dispose of their property as citizens of the country. That is, resell, rent, donate or to be inherited. Prior to the introduction of this law, foreigners were only allowed to rent property in the country for 99 years.
Owners of real estate in the UAE do not pay an annual tax, but there is an annual fee for the maintenance of the building, the common and adjacent territory. The exact rate depends on the developer and the area, but it varies between $14.6-58.7 per sq.m.
Highlights of Dubai
- Burj Khalifa - the tallest structure that ever existed in the world;
- Burj Al Arab - a sail-shaped hotel, one of the most luxurious in the world;
- Dubai Fountain - musical fountain;
- Aquarium - one of the largest aquariums in the world;
- Mir - an archipelago under construction off the coast of the UAE in the form of the continents of the Earth;
- Emirates Towers - silver-gray twin towers, one of which until recently was considered the tallest building in the Middle East and Europe;
- Palm Islands - a group of artificial islands;
- Indoor ski resort Ski Dubai;
- Bastakiya - the old part of Bar Dubai;
- Sculpture "Together" - an Arab couple dressed in traditional white and black clothes in a traditional style;
- Mushrif Park with many tropical plants.
Which areas are the best for purchasing real estate?
Very popular areas: Dubai Marina, Downtown Dubai, Palm Jumeirah. Other areas are less popular, but there are promising locations among them where modern technologies are applied. In particular, District 2020 is an array of residential complexes, shopping centers and exhibition pavilions. The largest airport in the world is planned to be located here. From a perspective point of view, the area is very interesting, according to experts’ opinion. The investment will begin to pay off due to the strong demand for short-term rentals, as guests are likely to choose to live in the area where they fly in and where they work.
The area of Dubai Creek Harbor is also noteworthy. Construction here will be carried out for the next ten years. However, objects are already appearing on the market.
Buying apartments from the developers in Dubai is also profitable in a new area that experts consider promising - Emaar Beachfront. It is being built on a bulk island with luxury residences that have direct access to a private beach. In addition, the project will include a yacht club, a port for cruise ships, recreational facilities and a 135-meter lighthouse with an observation deck at the top.
But there are two peripheral areas - International City and Dubailand, where you can buy the most affordable housing. In addition to the price, the investor is attracted by the high profitability from long-term lease - up to 9%. However, experts note that real estate here is illiquid from the point of view of resale - it is usually difficult to sell a purchased object due to the relatively low characteristics of buildings, and in Dubailand - due to poorly developed infrastructure.
New developments in Dubai are ideal for investors as they are located in an internationally recognized investment haven. Primary housing combines high technology, comfort, the ability to enjoy a seaside holiday and life in a city of perfect infrastructure.
Prices per sq. m. in popular districts of Dubai
|Downtown Dubai||3000$ / m2|
|Jumeirah Village Circle||1200$ / m2|
|Damac Hills||1500$ / m2|
|Dubai Hills||2100$ / m2|
|MBR- Al Merkad||2700$ / m2|