It’s not
always easy to find a home that has all the features you’re looking for. You
may still be left empty handed even after spending a lot of time searching for
your dream home via property listing websites and real estate agents.
If your
dream home doesn’t exist yet, then building your home from the ground up
according to your own preferences might be the perfect option for you.
But this is
also not a completely hassle-free task. The most crucial step of building a
home from the ground up is to find and buy the most suitable plot.
Dubai,
as an investment hub, has a lot of real estate investment options and investing
in a residential/commercial plot of land is one of them.
Dubai’s
real estate industry is booming and an increasing number of people are
considering buying land either for self-build, development or investment
purposes.
Whether
you’re looking for a readymade property project or a land for sale in Dubai,
never forget one thing, i.e. “Do your homework before making any decision”.
So make
sure you know each and everything about buying a land in Dubai before taking
any decision. After-all, well-informed decisions yield great results!
Understanding the types of land
ownership in Dubai, UAE:
This is
really important. Make yourself aware of all the UAE land ownership types and
choose the one that fits you perfectly.
There are basically
four types of land ownership in the UAE:
1: GCC Land: This type of land is available
freehold for locals i.e. UAE Nationals only.
2: Freehold Land: All nationalities are eligible to
buy this type of land.
3: Free-zone Land for lease: All nationalities are eligible to
own this type of land for up to 99 years (renewable)
4: GCC Land for lease: Open to all nationalities and has ownership
duration from 1-99 years.
You can contact a real estate agent to help you choose the most suitable
type of land.
Choosing
the area you want to invest in
If you’re planning to buy a
residential land in Dubai then you’ll come across a wide range of options. If
you carry out a quick search on Google, you’ll find lots of plots and land for
sale in Dubai.
You must be aware that Dubai’s real
estate industry is constantly evolving and now most of the top real estate
developers have begun selling plots too. One such developer is: DAMAC. The
trend that was initiated by DAMAC and a few other top developers is now gradually
gaining a wider acceptance as this lets the developer focus exclusively on
fulfilling the infrastructure needs of that area instead of working on building
up the individual homes as well.
Following are the most famous areas
among expats for residential land investment:
·
Al Furjan
·
Palm Jumeirah
·
Emirates Hills
Talking about commercial plots, areas
like Jebel Ali, Mohammad Bin Rashid City and Al
Barsha are the most popular.
If you compare Dubai’s land prices
with the rest of the world or with other top-tier cities like New York and
London, you’ll realize that you’ve taken a wise decision of investing in such a
valuable asset at pretty affordable rates.