A large number of investors are looking to Dubai when they want to invest in real estate, but if foreign investors do not reside in the UAE lands, it may be difficult for them to manage their properties from abroad. That is why we will give you some real estate investment advice in Dubai for foreigners and how to choose a real estate management company.
There are many reasons why more people are looking to buy real estate in Dubai, especially with flexible payment plans and attractive prices. The UAE was ranked as one of the safest countries in the world in 2019, which adds an incentive for investors considering buying real estate in the city. Although VAT is entered, it does not apply to investor rental income. Here are some of the most important real estate investment tips in Dubai.
Real estate investment in Dubai for foreigners:
Finding the right property:
The advantages of owning a property in Dubai and the rest of the cities are numerous and varied, especially after the issuance of the law of ownership of property to foreigners in Dubai, which defined freehold areas in Dubai and the rest of the Emirates cities in addition to the permanent residence laws and those for a period of 10 years.
Location of the property:
The first rule is that these properties have good investment returns, i.e. choosing the best place for real estate investment in Dubai, which provides the highest return on investment in addition to amenities close to or affiliated with the property, “educational institutions, entertainment facilities, commercial centers, health care centers, and others”.
For example, there are some of the best locations in Dubai near offices, tourist sites and business centers, including Dubai Marina, which embraces real estate that allows freehold ownership in the country, which made it occupy an important position in the report on the homes of Dubai real estate market for the third quarter of 2019.
The appropriate real estate agent:
Next in the list of real estate investment tips in Dubai for foreigners is dealing with the appropriate real estate agent, who will help you in providing advice and inform you about market trends and the best areas for investment, housing, etc.
Choose a property management company:
Following up on the advice of real estate investment in Dubai for foreigners, we come to the importance of using the services of property management companies, as they have an effective role in real estate management for foreign investors who cannot manage and supervise them personally, as well as their services provided to investors in terms of legal requirements and so on.
Real estate rental:
Foreign investors looking to buy real estate in Dubai to re-rent the property cannot search for tenants in the emirate, but reputable international real estate management companies in the country can access hundreds of real estate agencies and potential clients who can act as tenants in the future.
Real estate maintenance:
In addition to addressing important legal issues and lease contracts on behalf of its clients, the property management company undertakes the task of preserving the investor’s assets and the appropriate form of housing in them, and these services also reduce maintenance costs for clients Thanks to the discounts they receive by partnering with local maintenance companies.
The rental amount:
The overseas property management company guarantees tenants who deal regularly with rental payments, as well as its role in resolving rental disputes such as; Returned rental checks, non-compliance with monthly installments, etc.
This was a set of Dubai real estate investment advice for foreigners and the importance of choosing a service management company.