Buying property in Dubai is undoubtedly a very smart investment. You could easily purchase a suitable property for sale in Dubai and live quite comfortably without any hassles. Apart from that, you could make a huge profit with the purchase of off-plan property in Dubai. This is exactly what makes off-plan property acquisition a smart business venture for investors. However, before you purchase such property, you should keep a few things in your mind so that you could make the best possible deal.
The very first thing that you should know is that the properties are not cheap in Dubai. So, before you purchase off plan property, you should know the value of your planned property. If you are not an expert when it comes to mathematics, then it would be advisable that you employ the services of an agent or a real estate planner. These professionals will help you in knowing the right value of your planned property and thereby making a decision regarding buying or renting property for rent in Dubai.
Next, you should understand how property tax is collected from the owner of the property. Generally, property tax is collected based on the rate per square foot and this rate differs from locality to locality. Usually, properties which are located in the urban areas or in the commercial zones will have a higher rate of property tax. Similarly, properties located in the outlying areas or those which are not built in the approved manner will also have a higher rate of property tax.
As far as the laws are concerned regarding property tax is concerned, it is highly recommended that you do your homework well. Every individual buying property for personal use must be absolutely clear about the property tax, he is required to pay. Moreover, he must be aware of the exemptions and rebates which he is eligible for availing. There are several websites that will help you with all your questions regarding Dubai property tax.
Another question that you might like to ask yourself is whether you are considering buying a holiday home in Dubai for the purpose of self-catering. It is very popular these days to live in Dubai apartments as they make great options for families on vacation or for honeymooners. However, there are individuals who choose to buy property in Dubai for the purpose of renting out their properties. This can be an excellent business opportunity for an individual who is looking to earn more. Therefore, if you are thinking of buying a holiday home in Dubai, you should know whether you will be interested in renting out your property or in using it as a regular vacation home.
If you are planning to buy property in Dubai, it would be worthwhile to visit the Burj al Arab Hotel. This impressive hotel was built by the Quraish, the original investors of the Grand Trunk. The hotel has been made over to meet the current demands of visitors from all over the world. The hotel is located near Burj Al Arab and offers guests luxurious facilities such as a swimming pool, fitness center, restaurants, bars, a spa pool. If you are thinking of buying a property at this hotel, you should also know whether you will be getting a freehold property or you will have to lease your property.
There are several other things that people should consider when they are planning to buy property in Dubai. These include the cost of renting out the property, the cost of building the house, the taxes that you will have to pay every year and the cost of maintaining the house. Other factors that can influence your decision include the number of bedrooms in the house, whether you want to have an entertainment room in the house, whether you want to get a secluded area or a ground floor living space and whether you want to own the land or not. These are only some of the factors that will affect your decision regarding buying property in Dubai.
The above mentioned are just some of the things that you should consider before you decide to invest in property at Dubai. If you are a resident of Dubai or if you are planning to relocate to Dubai, you should know that there are many things that you should take into account when you are thinking of buying property. In order to make the most of your investment, you should buy property within the emirate that will fit your lifestyle and needs. Buying property is not always an easy task especially if you are new to the city. However, if you take all the factors mentioned above into consideration, you are sure to find a place that is right for you and your family.