Do you live overseas but want to invest in Dubai? Then keep reading

Dubai freehold property certainly isn’t just for residents of the United Arab Emirates; it is available to buy for anyone.  As such a popular tourist destination, buying a property in Dubai as an overseas investor may just be an excellent investment and a great holiday home for you.  For anyone that thinks this might be a good option, here are a few things you should know:

Mortgages are available

You can still get a mortgage on Dubai properties even if you are not a resident, and you can sort out financial arrangements with a bank in your country of residence.  For ease in doing this, we do recommend fully checking to restrictions on mortgages, but several large multinational banks such as Barclays and HSBC offer mortgages here and they are all over the world, making your life easier.  Check with your bank to see what options they can give you.

If you are planning to buy, be sure to visit the country

It’s no good judging a country by the pictures you see.  While they might be accurate, and they are, it doesn’t give you a full impression of where you are investing your money.  Since Dubai real estate is not cheap here, make sure you know exactly what you are buying, where the property is, and more importantly, make sure you like the country, after all, it is your holiday home.  Most visitors do end up coming back because they do like the country, and this is all of benefit to you if you do buy a home because you can rent out your property.  Not only can we help you find a property, we can help you book your trip to Dubai!

What you need to know about renting out property

It does seem straightforward, buy a property, advertise it for holiday lets and rent it out under a property management firm.  While there are plenty of property management firms, there are restrictions on short term letting, specifically with Emaar properties.  They have enforced a ban on short term leasing (less than 6 months) to keep their freehold communities free from trouble.  If renting for more than six months to a family is a good option to you, you should be ok, but other developers have not put restrictions on their developments and are probably a safer choice if you want to rent out to tourists. 

Other than that, there is a lot of money to be made by buying here, especially during peak times.  So if you like the country and can make the investment, buy a property in Dubai and contact us for help in buying any queries you might have.

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