THINGS TO KNOW BEFORE BUYING PROPERTY IN DUBAI
COMPARE PRICES!
There are still many gullible and uninformed customers who buy property at inflated prices. It is often foreigners who turn to the wrong partner in Dubai. As we know, the profit lies in the purchase. This can be very painful for a buyer who pays too much and therefore starts with a loss of 10, 20 or more percent. For buyers who do not live in Dubai, it is often difficult to understand the real estate market with all its customs, laws, and rules. If they don't find the right agent or financial advisor, they've almost lost. The decision to invest in the most exciting and currently the largest real estate market in the world is a good decision. A level of expertise and selecting the right advisor are keys to success. The Land Department in Dubai offers insight into all properties that are currently for sale and have already been sold. This gives brokers the opportunity to compare prices.
BUY OFF-PLAN PROJECTS CORRECTLY
Off-plan projects are properties that have not yet been completed.
ADVANTAGES
- Easy processing of the purchase contract without having to travel to Dubai.
- Sales prices before completion are often very attractive.
- Large selection of new properties equipped with the latest know-how.
PLEASE NOTE
Buying an off-plan property only makes sense if you or your advisor have good connections to the property developers and are also connected to the management levels. The actual deals and offers are negotiated there. Professional investors often buy entire residential floors at attractive prices before they even come onto the market.
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- The important thing here is to find the right broker who will give you good advice.
- Also, look at the developer's already-completed projects
- If it’s possible, talk to some residents there before making a decision.
In the property developers' brochures, almost all projects always look beautiful and colorful. Sometimes the reality looks a little different after completion, and the customer is disappointed. There are endless developers in Dubai, but the customer may only know 2 or 3 by hearing. This is where the experienced local broker comes into play again, who often cooperates with professional financial advisory agencies and also provides the customer with advice on financing. A good agent will give you advice and show you the positive and negative sides of a real estate investment because he has known the Dubai market for years. A property developer won't really advise you because their only goal is to sell.
If you are a non-resident of Dubai looking for real estate financing or would like to open a bank account in Dubai, we will be happy to help you too. It's easier than you think. Send us your questions to: [email protected] Subject: Investment
RIGHT PROJECTS WITH THE RIGHT PARTNER
The biggest success factor is having the right project and the right partner in Dubai. Many bad developers often pay the agent a high commission to sell their substandard projects. The focus here is not on the interests of the long-term investor but on the broker's commission. A good agent won't do this because they are interested in keeping you as a good long-term customer and don't want to ruin their reputation. Also, try contacting a local, long-standing investor and asking about their experiences.
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If you are new to real estate investing, start small. You can get this and many other useful tips from us if you are interested in buying a property.