BUYING A LAND IN DUBAI? HERE’S WHAT YOU MUST KNOW!

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.