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Ultimate guide to buying a home in Dubai 2024

Dubai offers thousands of properties open for investment and personal use. Now that the government has allowed foreign nationals to buy residential and commercial properties in Dubai, many have become interested in purchasing properties. Apart from the great potential return on investment, investing in Dubai real estate also comes with many perks.

If you are planning to buy a property in Dubai, the first thing you need to identify is your objective. Why are you looking to buy it?

Investing in Dubai is quite popular as it can yield a high return when a good property is purchased. However, it is important to consult a professional real estate advisor before buying a house to determine if what you are looking to buy would be a good investment.

On the other hand, if you are buying a property for personal use, the main factor you need to consider is the location. It has to be close to where you work, to the supermarkets, hospitals, shopping malls, or schools.

Here are some of the things to consider before buying a home in Dubai:

Property type:

You need to know the type of property you need, whether it’s for personal or business purposes. If you live with your family, you may want to consider buying a villa or a spacious apartment. Plenty of options are available, and a real estate agent can help you identify the best property for you.

Location:

One of the most important things to consider when buying a property in Dubai is the location. You need to get familiar with the neighbourhood and check if it would be a convenient location for you. If you prefer a luxury lifestyle, locations like Palm Jumeirah, Jumeirah Beach Residence, Dubai Marina, Jumeirah Lakes Towers, or Downtown Dubai would most likely suit you best.
However, if you want to live away from the city buzz and in a quieter neighbourhood, areas like Arabian Ranches, Dubai Hills Estate, Damac Hills, or The Springs would be ideal. Mid-range options are also available if you want a quiet area and budget-friendly at the same time. These include Dubai Sports City, Dubai Motor City, Dubai Production City, and Jumeirah Village Circle.

Price:

It is also important to ensure that the property you buy is well-priced. Consulting an experienced real estate professional can help ensure that you choose a property that is priced at or below the market value. Also, don't forget to take into account the likely maintenance costs and annual service charges when considering buying a property.

Rental yields:

If you are buying a property in Dubai for investment purposes, a major factor that you need to consider is the rental yields. It is best to speak with a professional real estate agent to assess whether a certain property can generate a good potential rental income.
Buying a property in Dubai is easy, especially when an excellent real estate broker guides you.

Engel & Völkers is one of the leading real estate brokerages with over 800 locations worldwide.

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