Have you ever wondered why investors keep on doing research about Dubai properties even if they are not willing to buy them? This is because of the drastically changing infrastructure of Dubai properties, their developments and ever-improving facilities. Not a single place on this planet offers this much flexibility in property investment as Dubai does.
Dubai properties are developed under the shadows of a strategic and planned economic growth. Dubai offers you a decade long plan for investment and more investment. On the other hand, the flexible property law developed by Dubai government ensures a smooth and hassle-free investment process which can be conducted in a matter of no time. Finally, Dubai infrastructure is developed to ensure and maintain a royal lifestyle suitable to not only families and couples but to the business tycoons as well.
Features To Look
When you are seeking Dubai property to buy, always try to look these features in order to secure your buying process.
1. Property Real Price
The prices of Dubai properties keep on changing due to surrounding influential factors. An easy way to trap the investor in a scam is to show them the ‘changed price’ only. This price is a product of surrounding communal and business developments, technological and technical developments, repair and maintenance and other factors. However, when you decide a Dubai property to buy, always ask your real estate agent to explain you about the price change and also show you the real price of that property.
2. Transfer Fee and Agent Commission
Generally, a 7% bank transfer fee and 2% real estate agent fee is entertained in Dubai. However; there might be slight variations in these depending on a few particular properties. You must ask the real estate agent about these fees and also ask him to show the fee change document if required.
3. Sharia Law Status In Dubai
Dubai property laws operate on the Islamic laws or Sharia laws for property. However; these laws apply on the residents of Dubai only. Foreigners and foreign investors are not restricted to abide by these laws. Therefore; always learn about international Dubai property laws whenever dealing with a property buying case.
4. Government Property Privileges
The government of Dubai provides a few privileges on Dubai properties. The most important of these privileges is 1 year free maintenance of any kind of property, which can be extended if no maintenance
or recovery is done in the first year. The government technological and telecommunication supplies also offer lower rates than private suppliers.
5. Property Restriction Laws
Property restriction laws apply on all the Dubai citizens and foreigners. If you have decided to buy a Dubai property from first hand market, then you are free to resale it after a few days. However; if you buy it from secondary market, then you are bound to own the property for at least a month. This ownership is certified by a memorandum of property restriction.