Five familiar problems buyers face when investing for the first time in Dubai property

Posted Nov 9, 2007 @ 10:25 am, Viewed by 248 Visitors, Read 251 Times.

New property buyers are always going to encounter more trouble than seasoned property buyers do. Since the Dubai property market is new and always changing.

1. Which Dubai property developments should buyers consider for a first buy? There have been numerous issues with build quality and more persistently with construction delays. First time buyers should find out as much as they can about a project before putting a deposit down such as the terms of the contract, any problems that have been reported and if the project is still under construction, what the completion schedule is. If buyers are looking into a project that has faced delays, then perhaps another development is a better option.

2. Always read the fine print! We really cannot stress the importance of reading a freehold contract fully before signing on the dotted line. There are a selection of fully freehold developments and leasehold developments with 99-year leases. Make sure you know what you are buying and if it is right for you. Also, after the trouble faced by buyers on Emaar properties, beware of the restrictions on you renting out your property!

3. Make sure you know where your property is. This seems a little obvious, but so many first-time property buyers end up putting a deposit down without knowing where their property actually is. If you are buying a villa in Emirates living Community, for example, make sure you have confirmed easy access and a good location on the development as this will be important should you sell your property on in the future.

4. Be prepared for all eventualities. The Dubai real estate market is very unpredictable, and being prepared for the worst is good advice for any property buyer. With so many construction delays plaguing property developments, often unavoidable, be sure to have a backup plan. So many people have been left without accommodation because their property isn

5. Finally, know the Dubai property law. The law is there to protect you, so make sure you know your rights.

Even long-time property buyers face hitches in their investments, so first-time property buyers should always keep in mind that in a property market like Dubai, anything can and will happen.

It’s so important to know the property laws, know the best developments to look at, and which to avoid! This is tough for first time buyers, as the market can seem quite daunting and the property boom is an unprecedented phenomenon that cannot be predicted. Here are a few problems for first-time buyers on the Dubai property market, so be careful!t ready, dont join this group!t walk into a property deal without a leg to stand should the worst happen. New laws and regulations are coming into place each month in order to keep the buyers market as transparent as possible, so always use this to your advantage and stay ahead of the game.s easy to get the best advice by using a reliable real estate agent, so please contact us with your queries and we can help.

Dubai Property

 

 

We provide expert advice if you are looking to buy or sell  in the Dubai Property market please contact us for more information. If you are looking to sell Dubai Property you can submit your details on the link directly.

Thank you.

  • Rate this Post!
  • Print

2 Responses to “Five familiar problems buyers face when investing for the first time in Dubai property”

I love the Dubai market! It is unbelievable. Hwo often do you actually have buyers contact you for property of this stature? Are you located in the states or are you abroad? If you reside in the states I assume that you use the international designation/license. I would love to learn more about that niche.

Posted 9 months ago
photo Mark Wallington

We get high net worth clients on a regular basis, we are based here in Dubai so are kept well updated with all the latest happenings its great!

Posted 9 months ago
Mark Wallington

Mark Wallington We are a leading Dubai Property company who specialise in helping our clients and investors who are looking to buy or sell Dubai property in the local market, feel free to contact us for more information. Read More

Blog Tags
This User's Stats
Blog Entries: 201
Average Blog Rating: 0
Unique Views: 120,533
Total Views: 129,129
Comments Posted: 47
Comments Received: 96