Myths About Premium Real Estate in Dubai
Information that foreign investors obtain via various sources is not always true. In fact, most of the ideas about buying property in Dubai are myths that prevent businessmen from really effectively saving and growing their money, or just to provide comfort for themselves and their families. When buyers avoid considering luxury developments in Dubai, they lose most of the opportunities provided by the real estate market. To be aware of the most common myths and not to be distracted from profitable housing, look through the article.
Premium housing costs enormous money
First of all, affordability of housing is a subjective matter that completely depends on the budget of a buyer. Still, realtors often receive requests from clients who expect to buy a good object at a low price. It is difficult to convince buyers that there are no quality objects on the market that are cheap at the same time.
The cost of luxury property in Dubai starts from AED 1,8 million and goes up to AED 50 million. Various configurations, footages, locations and designs are available for these prices.
An exclusive combination of luxury, technology and comfort cannot be cheap. Luxury properties in Dubai offer a wide range of amenities improving well-being and facilities inside and outside residential complexes.
The real estate market abounds with unreliable developers
This myth is connected with that about constant delivery delays when investing off-plan. Some investors prefer not to risk and invest into the already finished real estate. However, the government of the UAE is a reputable power that controls each developer and their relationships with property buyers.
If the builder does not hand over the property you have purchased in accordance with the terms of the SPA, you can demand that the company fulfills its obligations. If the builder does not comply, you can contact the DLD and file a complaint. The DLD may try to settle the matter amicably between you and the builder. If there is no agreement between the developer and the buyer, the developing company has to return money to the investor.
The developers of Dubai have gained international recognition. They delivered thousands of objects on time without any issues. The real estate market in Dubai can be called one of the most trusted in the world.
It is uncomfortable to live in the country with strict laws
In fact, 90% of the population in Dubai is non-native residents, and in areas with medium-price apartments, most of the residents are Europeans and Americans, businessmen and managers of large companies. All of them have no restrictions and feel no inconveniences in living and conducting business in Dubai.
To adapt to the lifestyle of the Islamic country, it is recommended to become aware of the following aspects:
- traditions and customs;
- legislation of different spheres of life;
- weather specificities;
- norms of behavior;
- cultural peculiarities.
It is not obligatory to know everything in the country. Still, at least some understanding of the main lifestyle aspects, real estate buyers have to know.
Buyers can perform the purchase by themselves
Only if the buyer has time to understand the intricacies of buying a home in a foreign country, travel around dozens of properties and master the foreign language, then there is a chance to buy a good property on their own.
Although the government of Dubai facilitates the process of purchase as much as possible, there are many hidden issues to face. The real estate agency Dubai-Luxury.Property is a useful source to address when buying premium quality properties. The specialists follow the clients from the stage of selecting the housing up to obtaining the keys. Qualified solving of the most intricate questions is guaranteed.
Luxury real estate in Dubai is still 80% cheaper than housing of the same quality in European countries. Wealthy people from all over the world drive the growth in demand by making large purchases. The government of Dubai expects this upward trajectory to continue for the foreseeable future, as premium housing continues to deliver the highest return on investment. Such an extreme flow of investors in the sphere of real estate, maintains the reputation of Dubai as one of the world's best destinations for residents and investors alike.