Buying Real Estate in the UAE can be a huge financial commitment, so you’ll want to make sure you’re doing it right. Here’s a look at some of the things to keep in mind.
Abu Dhabi
Buying real estate in Abu Dhabi is a good investment. There are several factors to consider.
You should consider your budget, property type and timing. Buying at the construction stage will save you money and increase your profits. A mortgage may also be an option, but you should be aware of the costs.
The UAE government has implemented new legislation to regulate the real estate sector in the country. This is intended to protect the interests of homeowners, as well as the economy as a whole.
The best time to buy property in Abu Dhabi is during the construction phase, when the prices are low. As the construction sector grows, the number of new housing projects will increase. The market is also expected to see a steady expansion in the coming years.
Dubai
Investing in real estate in UAE can be a great way to earn money. You can make money from the sale of the property, as well as the rental income from the lease agreement. The country’s economy is strong, and its employment opportunities are also good. The country has world-class health and education systems.
There are various places in the UAE where you can buy property, if you are an expat. You can find houses, apartments and villas. However, the most interesting real estate in the UAE is the elite residential real estate, which includes villas and complexes. The properties offer great sea views and are in close proximity to the infrastructure.
The UAE is known to be one of the safest countries in the world. The safety of the country is a big draw for many expats.
Yas Island
Located in Abu Dhabi, Yas Island is one of the most preferred locations for property investment in the UAE. This man-made island is home to a wide variety of villas, apartments, and other residential properties. It is surrounded by the crystal clear waters of the Arabian Gulf. It also features a white sand beach. The development of the island has been started by Aldar Properties in 2006.
This project is considered to be one of the major upcoming attractions in Abu Dhabi. It is estimated to have up to 100,000 permanent residents by 2030. The mosque at the island can accommodate about 2,000 worshippers. The project will also feature the UAE’s first marine life research center. The developer plans to put the complex into operation in 2021.
There are many luxury hotels in Yas Island. These hotels have amenities that rival the world’s finest destinations. Its waterfront location has made the area a sought-after vacation spot. The island is also close to Abu Dhabi International Airport.
MBR City
Located in the heart of Dubai, Mohammed Bin Rashid City (MBR City) is a mixed-use development which includes commercial, residential and leisure developments. Its total size is 1,100 acres. The project is under construction and will be completed in 2020. It is estimated to cost 30 billion AED.
Mohammed Bin Rashid City features a wide variety of luxury apartments and villas. Its property portfolio also includes townhouses, residential units, retail shops and restaurants.
The area is expected to feature a number of shopping malls. The Meydan One Mall is expected to be one of the largest malls in the world, offering over 600 stores, a 21-screen cinema, a skating rink and a ski slope. It is estimated to attract six million visitors each year.
The development will also include a large central park that will become a hub for social activities. In addition to the retail boardwalk, the area will also include a number of schools, a hospital and sports centres. The MBR City project has received strong government support.
Taxation issues
Whether you are a foreigner looking to purchase property in Dubai, or an individual investor interested in owning an apartment, you have plenty of choices. But with the recent announcement of a new tax system for the UAE, some have wondered how it might impact the real estate market.
The UAE has a relatively low tax rate, but the government is keen to diversify its revenue sources, and move toward a more competitive economy. It is introducing a new federal corporate tax that is designed to benefit the domestic real estate sector.
The new system will allow companies to levy a 9% corporate tax on taxable income. It also allows for a group of companies to form a tax group, which will be treated as a single taxable entity.
Al Qasimia
Located in the emirate of Sharjah, Al Qasimia real estate offers a relaxed lifestyle for residents. The area is surrounded by several parks, entertainment spots and retail stores, making it an ideal location for families. It is also close to the waterfront community of Al Majaz.
Al Qasimia real estate is one of the most preferred areas for people who want to settle down in Sharjah. With a number of commercial and residential properties, it offers great value for money. In addition to its prime location, the district is also close to schools, supermarkets, and other amenities. The area has a variety of restaurants that reflect the diverse culture of the region.
The area is also close to Mega Mall Sharjah, which has 4 stories of shopping with a cinema. The nearest bus station is about 20 minutes away.
