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For any investors serious about buying property in Dubai, one should be sure to have all one’s finances sorted out before you begin searching for the ideal real estate.
Due to the fact that the purchase process, once underway, can progress extremely rapidly and should a property investor not have a mortgage agreed upon or should the investor in question not have enough money to hand the sale – it could result in the whole process falling through as a result of the continual fast-moving nature of the Dubai property market.
Many investors, internationally and locally feel that in direct contrast to the “highly sophisticated sales process in Dubai which sees developers and estate agents presenting potential clients with superior show homes to view and lovely brochures to peruse, the property buying process in Dubai currently lacks some sophistication and transparency.” – This is not good news when sales agents seek to ‘clinch’ a deal with a potential purchaser.
Read on to see how to avoid the common issues that investors may encounter during the buying process in Dubai.
Altogether there are so many developments which are in the process of being built, that an investor will have to spend a considerable amount of time comparing the qualities of any given development, the developer and the specific properties characteristics and features, all this needs to be compared with the investors available funds, to ensure they get the best valued property for their budget and investment criteria.
When one attempts to arrange a mortgage (in order to buy property in Dubai) an investor can either do this in their country of residence or locally in Dubai. An increasing amount of financial institutions are now offering more products to non-resident purchasers on a monthly basis, therefore it is extremely beneficial as an investors to ’shop around’ for the best interest rates and payment terms.
Should the investor require financial assistance in order to purchase a resale property, he/she will have to have a valuation completed on the property to satisfy the financial institution and further show that the property in question is indeed worth the asking price.
To help smooth matters out, it is advisable to have a solid idea as to what kind of investment you would like to attach yourself to…before you begin searching!
The good news for purchasers looking at buying investment property in Dubai is the fact that there are no property related taxes to speak of. Translated, this means that there is only a minimal additional outlay with buyers having to cover lawyer’s fees he ongoing maintenance of the property as well as any shared areas or facilities.
For all those investors seeking to gain profits from their purchase immediately, there is always the option of purchasing real estate in Dubai that is on resale.
It is important to bear in mind that because there is currently no formal conveyancing system in Dubai, as well as no way of finding out who holds the freehold title of any given property, an investor is encouraged to ensure the property transaction for any resale unit ‘goes back via the original developer.’
This is critical as it is quite common place for investor’s who are not aware and alert to become the victim of fraud. It really cannot be emphasized enough – an investor interested in any resale property must contact the original developer before signing any contract to purchase (note to self – this is one of the most important issues one needs to contend with when purchasing property in Dubai).
As had been done in the past, many property investors turn their properties over to a secondary purchaser during the construction period already, in order to take advantage of any capital gains already accrued.
When it comes to the buying of a resale property during its construction period, most developers will allow for the resale of off plan property; however some developers are of the persuasion that only the original purchaser is allowed the right to resell during construction.
The secondary buyer, in such cases will only be able to resell property upon completion of the development. It has however become the norm for investors to purchase during the construction phase, as the majority of property developments are still to be completed!
Due to the fact that there are no escrow account structures in Dubai, any money an investor pays goes directly into the developers’ accounts (so as to fund the building process).
The fact that in Dubai, the government has a sophisticated process in place, whereby “any developer wishing to sell property units has to agree to place 50% of the price of each unit in a bond and only then is he allowed to sell his property.”
Translated loosely, this means that should a developer go bankrupt or renege on a contract in Dubai, the government should have sufficient funds in the bond to get the project completed.
Such insight into the buying and selling process of Dubai’s property market is imperative and undeniably necessary for all potential investors to be able to equip themselves with all the needed information to speedily come to an investments choice, which will prove lucrative and highly successful.

Dubai… A great place to live and property investment!

The Dubai Properties and Real Estate Blog is a resource center for international property investors. Being the commercial hub of the Arab world, Dubai saw property boom since 2002 when the government had permitted foreigners to invest in Dubai properties in order to boost Dubai and as well as the whole UAE real estate market.. For a few years now, some have been saying that the Dubai property bubble was about to burst and that a property crash was just around the corner. Yet, prices kept increasing and such doom mongering proved unfounded. The Dubai property market is unique in many ways, and as such doesn’t follow the general rules of other property markets around the globe and other Middle East property markets. The current rate of return on UAE property investments is in the region of 10 – 15 percent per annum, with this rate expected to continue for the foreseeable future, and rental yields in excess of 10% are further evidence of strength in the property market. The growth in the tourism industry of Dubai has been phenomenal with the 3.4 million visitors in 2001 expected to rise to over 6 million in 2010 – from a standing start the area is becoming a magnet for overseas visitors. Many of Dubai’s property developments set out to emulate the most prestigious residential addresses in the world. However, the less glamorous middle-income gulf or Middle East real estate market is increasingly drawing the attention of savvy investors. Dubai Properties is one of the biggest and has said it will deliver 5,000 units to the freehold market in 2008 which is not nearly enough to meet surging demand. Abu Dhabi property market will not deliver a single new real estate unit this year, and deliveries will only start late in 2009, and that creates additional demand in Dubai.

The Mediterranean island of Malta has recorded the strongest growth in property prices from countries in the European Union, and recent news could help see property inflation in double figures for the next few years. Malta is not only a tax efficient location with beautiful costal properties for sale or rental, but its warm climate, beautiful sea and days full of sun will help you relax and retire in a friendly and safe environment for Mediterranean property investment. Sustained property inflation at levels seen in Malta are rarely seen in other countries, but new economic activity on the island could see property demand at good levels for some years to come. The introduction of low cost flights to Malta from the UK will open up the possibility of more international real estate investors looking at the island for holiday homes that could be used for long weekends, and the Malta hotels industry could reap the benefits of the 3 and 4-day tourist seeing the island as a viable place to visit. After some years of wondering how Malta property market would fit into the modern world, property agents, hotel owners and the Malta holidays industry are beginning to see the future with some optimism.

Due to the gains in housing equity in the past 20 years, more people have been seeking to invest in housing, rather than other forms of investment. In the UK there has been a rise in the number of private buy to let investors. Similar to an increase in the buy to let sector, there has also been an increase in demand for houses from oversees property buyers. This has had a significant effect in boosting real estate demand, especially in London. In terms of land mass the UK is an incredibly small country yet it attracts amongst the highest levels of immigration in the world. the supply of property is always restricted in the UK and that exaggerates price swings and ensures a recovery. Those more patient buyers from Arabia will find themselves well rewarded.