Two myths about real estate in Dubai. Myth 1 – villas for sale in Dubai are exceptionally luxurious, so you will save up a lifetime. Myth 2 - buying property in Dubai makes sense only by the sea.
Property for sale in Dubai
There are a lot of myths when it comes to real estate in Dubai. Perhaps many are simply not familiar with Dubai reality or look at this emirate through the prism of myths inspired by a TV show or stories of acquaintances. Let's try to dispel two of these myths. And after that you will probably be searching how to purchase villas in Palm Jumeirah the UAE.
Myth 1 – villas for sale in Dubai are exceptionally luxurious, so you will save up a lifetime
In fact, it is no exaggeration to say that in Dubai you can find accommodation for every taste and even every budget. The price per square meter of an apartment in one of the newest districts of Dubai, JLT (Jumeirah Lakes Towers) starts at about USD 2,500. For this money, you buy a view from the window of a skyscraper, underground parking, a swimming pool, a gym in the house and a beach in 15-20 minutes walk or ten minutes by car. Prices for apartments right by the sea on the artificial island of The Palm Jumeirah start at USD 3,000-3,500 per square meter.
Approximately the same prices for apartments in the skyscrapers located by the sea in Dubai Marina - an area that, in terms of the number and variety of high-rise buildings, resembles American Manhattan. In most houses, along with spacious two-, three- and four-room apartments, there are one-room studios at a more modest price. At the same time, real estate in Dubai is rented out by developers already finished, fully equipped with plumbing and kitchen furniture, and in most projects with built-in household appliances.
- The UAE differs from most countries in that you do not have to pay any taxes for owning real estate, as well as renting it out.
- Another thing is the cost of maintaining the property. If you are buying and not renting a villa or apartment, you should remember that the owner of the property is obliged to pay the costs of its maintenance, including the security of the building, cleaning and landscaping of the common area (parking, swimming pool), garbage disposal, and so on. As a rule, such payments are collected annually and can range from USD 20 to 80 per square meter per year, depending on the specific project. Even if you rent out real estate, temporary residents will pay for electricity and water, and if we are talking about a villa or townhouse, then for the maintenance of the land, but not the maintenance and landscaping of the territory of the residential complex, which most of the expenses.
Myth 2 - buying property in Dubai makes sense only by the sea
In reality, buying an apartment by the sea or not is a matter of taste. Many of those who buy property in the city to spend their holidays here come here for the sake of the sea, so they prefer apartments in coastal areas. But there are also those who do not want to live in an area where there are many tourists, are afraid to get tired of the constant contemplation of the seascape, or buy an apartment solely due to investment purposes - renting out.
In the emirate, there are a number of opportunities for them. Let’s take the cottage areas - villas are more suitable if you have a family with small children or people looking for more privacy. At a price of USD 2,500 per square meter, you get a townhouse (The Springs area) or a separate house (e.g. in such popular areas as Jumeirah Islands or The Meadows) with all communications; places for walking, landscaping, silence, tranquility and at the same time closeness to civilization.
In the cottage areas of Dubai, in contrast to the same suburbs, there are no high fences and angry dogs. You do not need to isolate yourself from other residents, fearing for your property. According to the results of the Gallup World Poll, 95% of the UAE population feel safe being alone at night on the street, which is the highest among all countries in the world.
In addition to villas in green cottage areas and skyscrapers on the seafront, there are other housing options in Dubai. There are intermediate options like The Greens area. It lives up to its name - there really is a lot of greenery there and with its 7-8-storey buildings and green streets, it resembles resort residential areas in European countries. High towers are also located here, the windows of which overlook the lawns of one of the most famous golf clubs - Emirates Golf Club. At the same time, you can get to the sea from here by car in just 10-15 minutes or 20-30 minutes by public transport.
Real estate in Dubai
Ax Capital agency has plenty of various offers to choose from whether you prefer a sea-side property or a housing in an area with lots of greenery. Anyway, you don’t need to save up for a house there during a lifetime, just go to the Ax Capital website and start a journey towards a real estate in Dubai.