Luxury property in Family Office 🏘️💖🟢💱

The cost of housing strongly depends on where and from whom you decide to purchase real estate. Here are a few basic ways:

Real estate from the developer (off-plan):
You can purchase real estate both at the initial stage of construction and at the design stage. This allows you to choose the most appropriate option and possibly make your own design preferences.

New building market: Here you can buy apartments in houses that have already been commissioned. In this case, the seller will be either a developer or a government agency. The cost of housing in this market is fixed and often does not involve bargaining.

Secondary market: In this market, real estate is sold by individual owners. This option is often considered the most profitable, as there is an opportunity to bargain and get a discount.
Choosing the place and method of purchasing real estate depends on your preferences and budget, so it is important to carefully study all available options before making a decision.

Conditions for foreigners
Since 2023, housing in the United Arab Emirates is available for purchase for both local residents and foreign citizens. However, foreign buyers should take into account some restrictions depending on the type of property and the location of the property.

The right to rent:Mustakh (for 50 years) with the possibility of redevelopment.
Usufruct (for 99 years) with a ban on redevelopment.
A lease holder (for 99 years) with almost the same set of rights as for full ownership.
In this case, ownership rights apply only to the building, but not to the land under it.

Full ownership:The right of ownership extends not only to the building, but also to the land under it.
This is an indefinite possession, which also gives foreign buyers the right to apply for a resident visa in the UAE.
However, it is worth noting that foreign citizens have the opportunity to purchase real estate in full ownership only in certain areas. In Dubai, this includes 50 special freehold zones:

Apartments:

Arjan
Barsha Heights
Bluewaters Island
Business Bay
Culture Village
Discovery Gardens
Downtown Dubai
Dubai Creek Harbour
Dubai International Financial Centre (DIFC)
Dubai Investment Park (DIP)
Dubai Production City
Dubai Residence Complex
Dubai Science Park
Dubai Studio City
Jumeirah Beach Residence (JBR)
Jumeirah Heights
Jumeirah Lake Towers (JLT)
Liwan
Mirdif Hills
Old Town Dubai
Park Gate Residences
The Greens
The Views
Apartments and villas:

Dubai Marina
Al Barari
Al Furjan
Al Warsan
DAMAC Hills
Dubai Festival City
Dubai Hills Estate
Dubai Silicon Oasis
Dubai South
International City
Jumeirah
Jumeirah Golf Estates
Jumeirah Village Circle
Jumeirah Village Triangle
Meydan City
MBR City
Motor City
Mudon
Palm Jumeirah
Town Square
Villas:

Arabian Ranches
Emirates Hills
Jumeirah Islands
Jumeirah Park
Reem
Tilal Al Ghaf
It is also worth noting that citizens of Saudi Arabia, Qatar, Oman, Bahrain and Kuwait can acquire full ownership of real estate in any area of the United Arab Emirates.

Let's look at all the advantages and disadvantages of the decision to buy a home in Dubai.

Positive:

The growth in the value of real estate in Dubai has increased 1.5 times over the past ten years and continues to grow.
In the United Arab Emirates, there is no annual real estate tax, gift tax and capital gains tax on the sale of housing.
A Dubai apartment can be rented profitably with a yield of 5-8% per annum without the need to pay income tax.
When buying real estate in the amount of $544,500 or more, you can get a gold resident visa for a period of 10 years.
Dubai offers constant summers, beautiful beaches, and a well-developed tourist infrastructure.
Easy transport accessibility and the presence of an airport inside the city.
High quality of life, luxurious entertainment infrastructure, good roads.
Favorable geographical location and high international business activity.
Dubai is considered one of the most protected countries in the world with a transparent legislative framework.

Minuses:

A strict visa regime, with the possibility of obtaining a resident visa only when buying luxury real estate.
The United Arab Emirates is a Muslim State with its own traditions and rules for the use of public places.
There may be difficulties in obtaining a mortgage loan for non-residents, as well as a large down payment.
The relatively high cost of maintaining the purchased real estate.

Depending on the type of real estate, there are several areas of the city that lead in the volume of housing purchase and sale transactions.

Apartments: Among buyers of apartments in Dubai, the following five areas are the most popular, where about 30% of transactions are concentrated:

Business Bay.
Dubai Marina.
Blue Waters
Downtown Dubai.
Dubai Jumeirah.
Dubai Creek Harbour.
The average area of ​​purchased apartments is 142 square meters. The most spacious apartments, with an area of ​​190 square meters, are most often purchased on the Palm Jumeirah, while the most compact options, with an area of ​​73 square meters, are preferred in Dubai Marina.

Villas: The following seven areas are popular among buyers of villas in Dubai, where about 40% of transactions are concentrated:

Sports City.
Above Al Sheba 3.
Wadi Al-Safa.
Jabal Ali First.
Dubai Investment Park 1.
Town Square.
Al Barsha.
The average area of ​​purchased villas is 197 square meters. Given the limited number of new constructions in this segment, many buyers are looking to the secondary market when searching for villas.