|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
Dubai has a lot to offer to the world. This progressive part of the Gulf sets the trend in many things. It is home to the world's biggest theme park, tallest building, largest shopping mall and remarkable real estate market. It is not so surprising why it is known as a popular destination for business travelers and holidaymakers.
As home to luxury real estate, Dubai is regarded as a trading hub with an impressive property market. For many years until today, buying a property in this lively part of UAE is considered an attractive investment opportunity.
Rental income from sought after properties is considered a stable source of income and a good addition to property portfolios. However, if you're new to property investment or you're already at the point of planning to invest in a property for rent in Dubai, you might find the following tips helpful.
Stable source of income
Statistics show that 88.7% of those living and working in Dubai come from overseas. Tourists visiting Dubai each year is continuously growing. This indicates that the property market is growing and the demand to accommodate travelers is expanding. Income from property rentals is expected to be in good flow.
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
High end buyers
GCC nationals and Emiratis top in the list of property buyers. Generally, they are known in the luxury real estate Dubai market. They usually go for the most unique, exclusive and grander properties.
Guaranteed return on investment
Investing in luxury vacation rental offers a wealth of benefits such as asset appreciation, business networking opportunities and personal enjoyment. An island hotel and resort destination typically has a strong market as they generate seasonal income and perform better during good financial markets. It is important to choose a property that is attractive to vacationing families.
One of the best example of high potential properties for sale in Dubai is the Floating Seahorse in the Heart of Europe Hotels and Resorts. The Floating Seahorse is an iconic, one of a kind luxury lifestyle property which was officially unveiled at The Dubai International Boat Show in March 2015. This world's first unique underwater villa offers an exclusive marine style retreat. It is literally a floating villa with three decks, essentially a boat without propulsion which has its own plot in the Arabian Gulf.
The Floating Seahorse Signature Edition is a luxury property that can be customised and personalised to suit individual style and taste. This edition of the Floating Seahorse has unique special features, state-of-the-art technology and outdoor climate controlled areas, all designed for families with children.
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|