landmark ranches

landmark ranches

Dubai has become a point of access for international property, with great architectural developments and ambitious projects rising seemingly overnight. With the market still young and demand exceeding supply, the time is ripe for foreigners to invest in this vibrant and captivating.

In March 2006 the Property Law in fee was passed allowing foreigners 99 years or lease or freehold of land in designated areas. Freehold or lease allows that the foreign investor many advantages. Owners can sell or rent their properties in Dubai, if they so wish. Investment potential is high, with a high demand for rentals short-term yields of around 10 percent. Dubai does not levy income taxes, including those derived from the rental of the property. Furthermore, there is no tax capital gains. With Dubai's population expected to double over the next five years, making demand for rent increase, a property acquired for the purpose Leasing can be seen as a long-term income generating assets. The owners are not obliged to live in the UAE, but should visit briefly the country once every six months. There are several property management programs local and international companies, including Colliers International, Cluttons, Astec, and JG Management property, they can take care of the property when the owners are absent. Properties can also be transmitted by inheritance if specific procedures are followed. Ownership of freehold property also entitles the holder named first visa to a 3 year renewable residence. (This visa does not allow the holder to his work in the country.)

The most popular events in Dubai property (many of them gated, communities of families with access to swimming pools and other amentities residential) are:

Springs: 3 to 5 offers two bedroom villas, located just off Sheikh Zayed Road.
The Meadows: located near Dubai Media City, composed of 3 to 7 bedroom villas with two floors.
Emirates Hills: a high-level, world-class development comprising villas freehold located near Dubai Media City and Emirates Golf Club.
Arabian Ranches: a community of villas and freehold apartments within minutes Jebel Ali Dubai and even in the desert, which offers access to Dubai Polo Club and Equestrian Center.
Dubai Marina: luxury apartments and villas with views facing the Tues
The Greens: near Emirates Golf Course and offering low-rise modern Freehold apartments available as studios, 1, 2 or 3 bedrooms.
City International, a unique development is located outside the city along the Dubai Hatta Road, offers nine different residential areas with apartments designed in the architectural style of China, Morocco, Russia, Persia, England, France, Greece, Italy and Spain.
Other and coming areas include: Business Bay, Las Palmas (Palm Jumeirah, Palm Deira, Palm Jebel Ali) and Jumeirah Beach Residence.

Investing in Dubai dynamic and fast moving market is quite simple. The only document required is a relatively straightforward sales agreement. If necessary, foreigners can apply for funding. The two main lenders in Dubai, specializing in real estate mortgages are Tamweel and Amlak. When purchasing property, you should use an attorney and make sure a formal contract signature, especially if purchased in the secondary market. It is possible and quite common to buy directly from the developer (as Emaar or Nakheel) who may charge a transfer fee of between 1-3%. Typically, they provide a down payment, plus fees, with the final installment, due to the termination or transfer of ownership. When finished, the property must be registered with the Dubai Land Department. There is a land registry fee equal to 1.5% of the purchase price of the property. Owners also must wait to pay an annual maintenance fee of the property that covers things like plumbing or electrical repairs necessary, site clean, and security.

Buying a home abroad is an important decision. It is essential to research all aspects of a potential investment and deal only with reputable real property agents since there is no formal process of purchasing structured in Dubai. Well known real estate agents with good reputation in Dubai include Better Homes, GoWealthy, Re-Max, and Landmark Properties. Dubai property market is likely to continue to flourish in the foreseeable future. Dubai is a thriving international destination offering a high standard of living, a lifestyle free of taxes, and a safe and secure cosmopolitan community making it the perfect place to invest.

Ahmed Juma is a local UAE businessman and owner of Emirates-Ads.ae, a Dubai classifieds site with listings for Dubai apartments and villas for rent or sale, sharing accommodation, commercial real estate and rooms for rent, as well as jobs in Dubai, used cars, and used furniture for sale.

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