Dubai Property Market and Real Estate Guide
(Dubai, United Arab Emirates, UAE)
Dubai is one of the most popular UAE destinations in which to purchase property and many of the homes here are considered to be high-end and luxurious. The skyline is growing at a rapid pace and property with sea views or beach frontage understandably commands high prices. As with Abu Dhabi
, demand massively outweighs supply in Dubai.
New developments are constantly being built in the city and areas such as Jumeirah, Deira and Garhoud are proving popular places to live. The city is surrounded by arid land and desert, while the city itself enjoys a green touch, with numerous parks and palm trees scattered throughout.
Rental prices are high, as are sales prices, yet demand continues to rise along with price hikes. Central areas are popular with expat renters, while the surrounding neighbourhoods are ideal for buying.
Renting Serviced Apartments
Serviced apartments are available in Dubai, with Bur Dubai being a particularly easy place to find great rentals. The majority of rented apartments come fully furnished, although outdoor space is rare and high-rise blocks are commonplace.
Landlords typically demand around three months' rent as a deposit and short-term rentals can be found for as little as a month, while long-termers are preferable and command an improved rental price. Oud Metha and Umm Hurair are also full of serviced apartments for rent and these areas are close to shops and highways, ensuring the apartments here are in high demand.
Buying Apartments and Houses
Buying property in Dubai should be done via a reputable estate agent. Foreigners can own freehold properties and purchasing off-plan is a popular choice here. A ten percent deposit is usually required to secure a property and for new properties, buyers have to pay a registration fee of two percent.
Maintenance charges are common and often have to be paid annually in advance. Agents often charge around two to five percent in fees and if the property is a resale, then the charge of a new build still applies and a one to two percent transfer fee will be incurred.
Real Estate Agents
English-speaking agents are easy to find in Dubai and a reliable agent is a sensible way to buy or rent here. The Internet provides a good way to find such agents and the central-city areas are home to many offices where renters and buyers are free to walk in of the street to speak with staff.
Check out the following Dubai realtors and real estate agents:
Smith and Ken
Address: 11th Floor, Concorde Tower, Media City, Dubai, United Arab Emirates, UAE
Tel: +971 04 439 4300
Smith and Ken specialises in property for rent and sale in Dubai and boasts a large portfolio of properties all over the city.
Oryx Real Estate
Address: Al Wasl, Dubai, United Arab Emirates, UAE
Tel: +971 04 348 4937
Oryx Real Estate looks after the real estate needs of numerous customers who are looking for sales and rentals in Dubai.
Eqarat Property Consultants
Address: Wafi Residence, Dubai, United Arab Emirates, UAE
Tel: +971 04 324 22 24
Eqarat handles sales and rentals in the city and boasts Russian, English and Arabic speaking staff.