Are you a foreigner and looking for a building for sale in Dubai? First of all, let me clarify that is it easy to buy property in Dubai for foreigners. Dubai is one of the most luxurious countries in the world. It is famous for its tourist attraction and its magnificent infrastructure. The Dubai skyline, the Burj Khalifa, and many other iconic structures add stars to the Dubai sky. Apart from this, advances in infrastructure have turned this semi-arid Arab land into a tangible wonder. Many iconic and distinctive buildings add to the desire and fortune of this state. Apart from this, nearby cities like Sharjah, Bahrain, Kuwait, and Oman offer a lot of employment opportunities for people from different countries. We invest millions and billions to buy real estate. The Dubai real estate market is on the rise, with prominent personalities, athletes, politicians, and others from all over the world investing to buy property in Dubai.
In this article, learn how ex-pats can buy commercial property in Dubai and what types of building for sale in Dubai are available to expats.
Policies for foreigners buying commercial property in Dubai
Is it possible to buy a property in a country where I do not live? The answer to this question depends on the foreign and domestic policy of each country. In Dubai, foreigners can buy property in Dubai, but there are certain rules and regulations. Let's take a look at the laws you need to follow when buying property in Dubai.
Non-residents can buy real estate in Dubai on a freehold basis. However, the Dubai government has placed certain restrictions on where these properties can be purchased.
Foreigners can only buy properties in Dubai in the following areas:
- Dubai Marina
- downtown Dubai
- Jumeirah Village Circle (JVC)
- Arab ranch
- Dubailand
- Jumeirah palm tree
All of these areas have permission to buy and sell real estate on a freehold basis. However, the prices of these prime properties are too high, but not high enough for foreigners.
Foreigners can buy the following types of property in Dubai:
- Department
- Duplex
- Loft
- Hotel Apartment
- Villas and townhouses
Read about the types of properties ex-pats can buy in Dubai
Before searching for a building for sale in Dubai, you must remember that these areas are very famous and require prior reservation. Even before construction begins, the property can be booked at the early bird price. These areas are in high demand and see the largest footprints. Therefore, the cost of the products you sell here must also be high to offset the rental or leasing fees. Apart from these three types of property, Dubai has many other types of commercial property that non-residents of Dubai can purchase for investment or business expansion. These are showrooms, commercial buildings, villas, lots, land, warehouses, factories, and labor camps.
Things to remember
There are several things that one should keep in mind before thinking of buying commercial property in Dubai.
First of all, real estate in Dubai is in high demand. As such, landlords may not always be able to maintain a consistent rent. Therefore, if you are renting a commercial property in Dubai, you should be prepared for rent increases in line with market rates.
Second, for commercial real estate in Dubai, the return on investment is very evident. If you buy a good piece of property, you can make a 4-8% profit per year on that property. This profit is in terms of the rent that you charge the tenant in addition to the value of the land that you know. This is why many ex-pats are interested in buying commercial property in Dubai. If you keep these points in mind, your Dubai commercial real estate investment will not go to waste and you will be able to earn a good income from the properties you buy. You can use it for your own needs or rent or lease it. Either way, you're making a profit.
Benefits for foreigners buying commercial property in Dubai
Buying a property anywhere is never detrimental. You must invest in real estate with a surplus amount and sufficient capital. This is a continuous source of income. Also, you can always use the properties for whatever purpose you want. The advantages of buying commercial property in Dubai are:
It is especially beneficial for foreigners as they have more places to go than other countries. If you buy a house or hotel apartment, you can rent it for several years. And after the expiration of the period, you can use the property as a villa.
If you wish to buy property in Dubai, Alich properties have the best option for building for sale in Dubai for you.
