BUYING A PROPERTY IN DUBAI: THE MOST POPULAR QUESTIONS

The profitability of real estate investments in Dubai is unquestionable. The market is growing and appreciating every day. This constant growth and strengthening of the market underscore the stability and long-term viability of investing in Dubai real estate.

Are you planning to buy a property both for profitable investment and for permanent residence or rent? We have prepared short answers to the most popular questions.

Yes they can! You can buy real estate in freehold areas, which include the most popular and best areas of Dubai:

• Palm Jumeirah;

• Dubai Marina;
• Downtown Dubai;
• Jumeirah Village;

• Business Bay;
• Jumeirah Lake Towers (JLT);
• Dubai Creek Harbour.
• Bluewater Island

In total, 54 districts of Dubai belong to free hold areas. Full list on our website.

The average cost per square meter of residential real estate in Dubai is $3175 (according to the official website of the Dubai Government DLD). This indicator makes real estate in Dubai one of the most expensive in the world.

The high demand for property in this region, as well as the prestige and comfort of living that the city offers, are the reasons for such high cost.

The first way: purchase of real estate from 750,000 dirhams (about $205,000). The validity of the visa is 2 years with the possibility of extension. When buying real estate from $545,000, you can apply for a resident visa immediately for 10 years.

The second way: obtaining a work visa. In this case, your employer will pay for your residence visa in Dubai.

The third way: opening a business in Dubai, which involves a total cost of $25,000.

Fourth way: obtaining a student visa. In this case, you must be a student of one of the accredited universities in the UAE.

Fifth way: obtaining a freelance visa. In this case, you must confirm an annual income of 360,000 dirhams ($98,000), and in free zones, an annual income of $60,000.

Yes, you can! (even necessary!). Rental income is not taxed. Our company takes care of all the maintenance and management of your property.

You receive a stable passive income and you do not need to participate in the management processes and search for tenants.

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Profitability depends on the type of rent (long-term, short-term, medium).

• Long-term rent (annual rent) - yield 5-7% per annum.

• Medium-term rent (monthly rent) - yield 7-9% per annum.
• Medium-term (monthly) - yield 9-11% per annum.

You, as the owner of the property, will need to pay annually for the maintenance of the building and the local area - the so-called service fees.

The amount depends on the area, type of property and the number of people living, and can vary from $15 to $59 per m². Utility bills are paid by the tenant of the property, they are approximately $19-$27 thousand per year.

The country has no taxes on income, capital gains, inheritance, real estate and gift. When buying a property, you will need to pay a 4% transfer fee, the so-called DLD (Dubai Land Department transfer fee).

This approach makes Dubai one of the most attractive places for investing in and acquiring real estate in the world. Thanks to the absence of taxes on income and other financial transactions, investors find favorable conditions in Dubai for increasing their capital and developing their businesses.

All projects are sold with built-in kitchen and plumbing. As for furniture, it all depends on the project and the developer. Some developers also offer additional services such as interior design consultations or furnishing packages.

Not all projects are commissioned fully furnished. But there are those who sell not only with furniture, but with dishes and towels.

We work with leading developers in Dubai, monitor the market daily and offer our customers the most liquid projects. Our company not only selects real estate according to the buyer's request, but also assists in the further leasing of the property for investment income,

We also help to sell the property on the secondary market after the increase in value. We provide services for business relocation and obtaining a resident visa on a turnkey basis.

info@mercuryestate.com