When one thinks about finding a property in Dubai, one should know that there are 3 major types of properties that one can buy there as a foreigner. Each of these properties has different styles of homes and lands.
The very first one is freehold properties. They are said to be the most desirable properties to buy in Dubai and so most sought out foreigners try to invest in these properties. When one buy a freehold property, it becomes entirely theirs and they can be lived in, rented or sold or passed as an inheritance to the next generation depending on their wish. When it comes to freehold property type, it is mostly associated with the undeveloped land parcels, apartments, and homes. But yes, it is a bit uncommon to buy some prefabricated homes when it comes to freehold arrangement. If one is going to buy a freehold property then one has to purchase it from a real estate developer which again has to be approved by the emirate’s government. Here are the major developers in Dubai:
- Meraas Estates LLC
- Al Fajer Properties
- Zabeel Investments
- Al Manal Development FZCO
- KM Properties LLC
There is another kind of property available which is also known as the long term lease property. Here one can take the property on a lease and use it in whatever way they want it to but cannot destroy it. These leases mainly vary from 10 to 100 years but this depends on whether one is taking a property on lease for residential or a commercial purpose.
There are commonhold properties. They are like condominiums in other countries. If one owns a commonhold property then one gets the right to buy, sell, rent or pass it down as an inheritance just like the case of freehold properties. Then what is the difference between the two? Well, here the properties are mostly apartments and here the owners have to pay some maintenance fees for the building and also for the common areas which are mostly owned by the developers.
There are many houses for sale in Dubai when it comes to these properties and one can choose from that. But before choosing a house, one should keep a few things in mind. First of all, one needs to check the traffic situation in the place where they are going to buy a property. This is because traffic is very bad there and it can become hectic to cover a long distance on an everyday basis. One should also choose a neighborhood that will be convenient for them. It is very much necessary to pick up the right neighbourhood in Dubai when it comes to hassle-free living.
Also, if one id buying a prefabricated apartment then one needs to check the car parking because it is also essential when staying in Dubai. Also one needs to avoid scams and pitfalls as much as they can when they are buying a property.