Buying apartments in Dubai in rubles: features and benefits

Buying apartments in Dubai in rubles: features and benefits

Investing in real estate in Dubai has become an increasingly popular way of investing in recent years. This is facilitated by various factors of an objective and subjective nature. We will talk about them in detail in this article. In particular, we will talk about the prospects for buying apartments in Dubai for rubles. Such information will be especially useful in the situation that has developed in the political and financial markets of the CIS in 2022. It will help not only to save existing savings, but also to increase them through profitable investments.

Benefits of buying apartments in Dubai 2022

At the beginning of the year, the Dubai Land Department reported that the number of real estate purchase / sale transactions in 2021 exceeded that of 2020 by almost 75%. At the same time, the total value of transactions increased by almost 150%. This rapid growth in demand is due to the following factors:

  • The UAE was one of the first countries to resume tourism following the COVID pandemic. The increase in the flow of tourists has significantly affected the market demand.
  • From autumn 2021 to March 31, 2022, the country hosted the international exhibition Expo, which attracted tens of thousands of guests from different countries to Dubai.
  • Global business relocation. Preferential taxation and a number of other factors attract representatives of the business world of the planet to the emirate.

All this complements the traditional advantages of buying apartments in Dubai for rubles or other currencies. This includes the environmental situation, reliability and safety, state control over the activities of developers and the opportunity to obtain a residence permit. In addition, we are talking about the premium class of any property, even if you buy inexpensive apartments in Dubai.

Is it worth investing in Dubai property?

An analysis of changes in the sale and rental value of real estate in the emirate showed that investments on average pay off in a year. After that, depending on the volume of investments, the profit is from 6 to 10% monthly. If we compare the effectiveness of such investments with other types of investments, we can confidently give a positive answer to the question posed in the subtitle.

This is especially true for investments in real estate in Dubai in rubles. The instability of this currency in the first half of 2022 was obvious, and it is very difficult to make long-term forecasts. It is much easier to find a reliable way to transfer (according to verified data, banks make it possible to transfer money without restrictions, but they may require documents from the developer confirming the currency transfer).

Standard processing costs:

  • a registration fee of 4% (shared between the seller and the buyer) of the purchase price of a resale property;
  • registration fee, the amount of which ranges from 2 to 500 thousand dirhams, depending on the type of object being purchased;
  • A $70 local court fee required for a property buyer to obtain a title deed.

Also, investors who invest rubles in apartments and houses in Dubai for subsequent rental may face additional costs. Here we are talking about paying for the services of a local real estate agency, which will search for tenants on behalf of the owner. If you want to optimize your costs as much as possible, it is recommended to catch the moment of the lowest ruble exchange rate for conversion. In particular, the fluctuation of the exchange rate during the spring of 2022 allowed many to cut their costs by more than half!

Statuses of districts when buying property in Dubai

A feature of the emirate's legislation regarding real estate is the presence of three types of sale. For each of them, separate rules have been established that open up different opportunities for investors. In particular, when buying villas, penthouses or inexpensive apartments in Dubai for rubles, you should be guided by the following features:

  • Lease-Hold. The owner receives full ownership of the property only after paying the entire amount of the cost. At the same time, depending on the type of real estate object for Lease-Hold, a limited payment period is set in the range of 20 to 99 years.
  • Common Hold. This type of relationship between the seller and the buyer applies to residential complexes, apartments in Dubai and other common areas. Its essence lies in the association of owners in order to jointly care for the territory and conduct public utilities.
  • Free-Hold. This category is the most attractive for property buyers in Dubai for rubles or other currencies. From the moment the contract is signed, the buyer becomes the full owner and can dispose of the property as he wishes.

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