Freehold Properties in Dubai.

Investing in property is a significant decision, especially in a dynamic market like the United Arab Emirates (UAE), where opportunities abound but regulations and practices may differ from those in other countries. Freehold properties offer unique advantages to both investors and homeowners.

?

What are Freehold Properties?

Freehold properties grant the buyer full ownership rights over the land and the structures built on it. Owning a freehold property means you have the right to use, sell, or lease the property indefinitely, without any time limit on ownership.

Freehold properties can be purchased by expats from any country. In total, there are over 50 such zones in?Dubai, with Business Bay, DAMAC HILLS, Dubai Sports City, Festival City, Barsha Heights, The Greens, Palm Jumeirah being just a few of them.

While?Dubai has the most freehold zones, some Emirates are starting to catch up.

In 2019?Abu Dhabi?granted foreigners freehold rights in designated areas (Yas Island, Al Raha Beach, Al Reem Island, Saadiyat Island, Masdar City, etc.).

Pros of Freehold properties:

·?????? Complete ownership.?The owner of a freehold property has full control of the property. They can repair and modify, sell or rent the property. It can also be inherited by the family if the owner passes away.

·?????? Visas.?Freehold property owners are entitled to residence visas in Dubai. If you buy a property for AED 750,000 (approx. USD 204,200), you are eligible for a residence permit for two years or more.

·?????? More zones. The number of zones offering freehold properties is constantly on the rise. The vast majority of the properties by top developers are built in freehold areas.

·?????? Investment opportunities.?Freehold real estate can be resold or rented, thereby making such purchases a good investment.

Cons of freehold properties:

·?????? Liability.?A freehold owner is solely liable for the maintenance and upkeep of the property. This is important when the owner lets the unit as the tenant will not be liable for the maintenance and repair of the premises.

·?????? Higher prices.?On average, freehold properties are more expensive than leasehold properties as they are sold in their entirety and tend to be located in more attractive areas. Most of?Dubai?is reserved exclusively for freehold, including the most sought-after areas of Downtown,?Dubai Marina, and Jumeirah. So naturally, the properties would cost more.

Dubai offers a diverse range of real estate options for expatriates and foreign investors, among which freehold emerges as the top choice. Despite its higher cost, freehold properties occupy prime locations in prestigious areas of Dubai, making them a compelling investment.