|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.|
Offering some of the highest rental yields in the world today, it comes as no surprise that Dubai's property market attracts a slew of investors from all corners of the globe. On the list of leading Arab investors are Jordanians, who according the Dubai Land Department are the third biggest investors from Arab nations.
As per official data approx 1, 516 Jordanians invested about AED 3.51-bn in Dubai's realty market last year (2015), ensuring them the third position just behind investors from Saudi Arabia and Kuwait.
As a leading global financial and commercial hub, investments into Dubai's realty market are known to give big returns. Here's a look at the key reasons why the city's property market is attracting so many investors from Jordan.
Ease of Investment:
Offering one of the most lucid realty transfer procedures in the world, property transactions are an extremely user-friendly experience in Dubai. No special visas or permits are needed. The only thing that buyers need to have ready, are the property documents. Moreover investors stand to gain a free residence permit if their realty investments exceed AED 1mn.
It's very profitable:
Despite the sluggish realty market conditions, Dubai has consistently offered robust rental yields. As per a leading realty portal, average apartment yields were pegged at 5.6% while the rental yield offered by a studio apartment increased to about 7.6% at the end of February 2016.
|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.|
Enjoy a Tax-free lifestyle:
Courtesy its state-of-the-art infrastructure facilities, hi-tech recreational and entertainment zones, premium living facilities and tax-free living, Dubai is today a much sought-after destination among people looking for a better quality of life or wanting to set up a business. By virtue of being tax-free, realty investors have the opportunity of maximizing the returns from their investments.
Conveniently located Dubai is easily accessible from most parts of Asia, the GCC region and Europe. From a Jordanian perspective, Dubai's proximity plays a huge role in their investments in the emirate. It takes only about 4 hours by flight to reach Dubai from the Jordanian capital of Amman.
With an almost non-existent crime rate and an efficient law and order mechanism, Dubai's property market has the reputation of being one of the safest in the region. Coupled with its investor friendly environment, it's a great place to invest for foreign investors.
Dubai's economy is hugely dependent on tourism, with a large number of tourists visiting the city for its many attractions every year. For investors, Dubai's growing clout as a leading tourist destination has made them invest in expanding the city's realty and hospitality options in the hopes of making good returns.
World Expo 2020
Dubai is the host of the forthcoming edition of the The Expo 2020 – an event that is expected to be accompanied by an influx of an estimated 30 mn visitors to Dubai in the course of its six-month duration. With a slew of development and construction activities already gaining speed, the Expo has opened a world of new opportunities for foreign investors always on the lookout for a lucrative investment.
|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.|