SELECTION OF PROPERTY TO BUY OR RENT IN THE UAE

There is often a need to sign a lease or purchase real estate for various reasons. The best choice in this case would be to contact a real estate agency.

Rent housing in the UAE

Finding the best option for renting is not so easy, so it is best to contact specialists. The best choice would be a realtor who speaks Ukrainian or Russian, in order to avoid any misunderstanding.

The services of our specialists include:

• Providing a choice of options for residential premises with furniture in different cities and districts
• Legal processing of all documents, which excludes the possibility of problems during residence
• The possibility of personal acquaintance with the owner of the apartment building
• Acquaintance with housing at a time convenient for the client

Regarding the cost of housing rent, it will differ depending on:

• Cities
• Dimensions of the living space
• Living conditions
• Availability of household appliances and furnishing
• Location relative to the center of the settlement.

The term of housing selection can be up to 3 days, depending on your needs. Resorts and cities of the UAE (Abu Dhabi, Jumeirah, Dubai, Fujairah) are not only classic beaches, hotels and entertainment centers for a beach holiday. In addition to this, there are cities of different emirates, and therefore, when choosing real estate for rent, it is necessary to pay attention to all the nuances.

Rent of commercial real estate

In the process of creating your own business in the UAE, there is a need to purchase or rent commercial real estate. The latter option is considered more profitable, as it implies lower costs, minimal risk of investment loss and the possibility of faster expansion when creating a network. The company, which provides its services for business owners, offers the rental of industrial premises in the UAE, shops, offices and other types of commercial premises.

By using quality service, you get the following advantages:

• the opportunity to devote maximum time to business development and working out a business plan instead of looking for real estate;
• individual selection of the object for specific tasks;
• legal execution of all documents;
• fastest selection of real estate.

It is important to note that renting an office in the UAE or any other space is done by agents. This allows you to start your own business in Europe even without the need to know the language. The cost of services is only 50 percent of the monthly rent of a store in the UAE or any other commercial facility.

Buying a home in the UAE

Foreign nationals, both expatriates and non-resident investors, can buy property in Dubai on title. It allows foreign citizens to buy, sell or rent their real estate. In Dubai, foreign ownership is allowed in areas designated as freehold. Foreigners (who do not live in the UAE) and expatriate residents can acquire unlimited ownership, usufruct or leasehold rights for up to 99 years. Article 3 of Regulation No. 3 of 2006, “Determining Areas of Immovable Property Owned by Non-Citizens in the Emirate of Dubai” (pages 129–132), specifies the land plots listed as ownership. Certificates of ownership are issued by the emirate’s land department. There is no age limit for owning real estate in Dubai.

There is a law in the UAE that allows foreigners to buy real estate. In the economic center – Dubai – prices for primary real estate will be about $3,000 per 1m2, although there are examples worth up to $10,000. An ordinary apartment will cost you about 115-150 thousand dollars, and a two-room apartment – from $200,000. In the capital, prices are not particularly different. In Ajman, you can get a studio apartment for 70-75 thousand dollars, a two-room apartment for 120 thousand and more. The cost of secondary housing, for example in Dubai, starts at $3,500 per 1m2, i.e., a two-room apartment is about $150,000. These are the main areas where the business of selling real estate is developing, the rest of the areas are just starting and the prices there are from $1,300 per 1m2.

Buying commercial real estate in the UAE is a question that interests not only businessmen, but also investors who want to earn a large stable passive income. Making a suitable purchase and selecting a suitable object is a difficult and time-consuming process that requires knowledge, time and effort.

The following types of commercial facilities are offered:

• warehouse buildings;
• offices;
• business centers;
• trading platforms;
• shops;
• complex buildings.

Before purchase, all these objects are checked for the presence of foreclosures, mortgages from the owner and a number of other undesirable factors. Thanks to this, buying commercial real estate is always a safe investment.

What taxes must be paid?

When registering property in the UAE, you need to pay the Land Department. From purchasesthis property requires payment of 1.5% of the property price and 0.5% from the seller. There are no such taxes as on turnover, on the purchase of land for ownership, on land, on profit from sale, on property, on inheritance, on residential premises. The main cost of owning real estate is the utility bill, which is $26 per year per square meter of space.

So the services of a real estate lawyer in the UAE include:

• Renting residential real estate in the UAE
• Renting commercial real estate in the UAE
• Buying residential real estate in the UAE
• Purchase of commercial real estate
• Land permit in the UAE

When choosing housing, consider the location of the apartment: Abu Dhabi and Dubai are megacities where almost all business centers are located; Rozum al-Quwain and Ras Al-Khaimah are for history and culture connoisseurs.