The ultimate guide to buying a condo in Dubai
The changing face of Dubai has given rise to the growth of a cosmopolitan culture where the young millennials have found that it pays to own a place than renting it. With the prevailing rules for owning property in Dubai, it is now possible for even foreigners to own property in Dubai. This has seen a significant rise in the real estate market for housing properties like villas, apartments, and condos.
Essentially the rules for purchasing any of these properties are the same:
- Proximity to the place of work, school and retail and dining areas
- Means of investment.
It is crucial that you choose a reliable real estate agent while buying property either for personal use or as a mode of investment.
- You must make sure that your agent is knowledgeable and has the details of all the exciting properties on his or her fingertips. The Dubai real estate scene is very dynamic and only those who are on top of the game can get good deals for you.
- The agent must be highly resourceful and have the contact details of other agents, mortgage loan officers, developers, and other essential services.
- Your agent must be an avid listener who understands your exact requirements and takes that extra step to ensure that you are satisfied with the purchase.
- Your agent will follow up on your requirements and be a communicator and negotiator.
- Your agent must be essentially easy to approach and friendly or it will be hard to communicate your requirements and even harder to follow up with them.
- Being tech savvy will be an advantage as they will be able to answer any queries related to the equipment in an apartment or be able to help you understand how high-end fittings work for the latest properties in Dubai come with the best smart fittings in town.
At www.fazwaz.ae we understand the needs of your clients and do our best to get them the best properties on market.
Now is the best time to buy a property in Dubai because the property prices have fallen. There is a surplus of condominiums right now and you must make the most of it. Before you finalize a property, you must make sure that you are clear in your head the reason for buying the property in the first place. Condos are usually a good bet as an investment vehicle because unlike most apartments they come with extra facilities and amenities like concierge service, built in swimming pools and gyms, health spa and even a dining restaurant.
Most of the condos are located in the business district making them easy to rent.
While buying a condo you must understand the usable square footage and the actual area that you end up paying; you must make sure that the fitness equipment is all in working conditions. If you are buying a condo for pure investment do research the surrounding area to understand the appreciation and growth of the land value there. Since it might not be always feasible to get all the necessary details online it is advisable to seek the services of a reputed real estate agency.