Resale property in Dubai

Dubai has become one of the fastest growing cities in the world. Over the past decades, the local real estate market has developed incredibly rapidly. The tallest building in the world or a sail hotel is no longer surprising, so now Dubai offers investors the following opportunity: to buy a property in the UAE for resale. The cost of housing is growing exponentially - the average price of a residential property can increase up to 20%. The main reasons include high demand for housing due to active population growth and interested investors, as well as a huge selection of properties in good areas. Dubai provides an excellent opportunity to profitably resell an unfinished property and get a decent profit.

In general, the resale of real estate in the UAE, whether it is finished or unfinished housing, is almost always able to provide a good return. No wonder there are so many willing to invest even in properties under construction. If you are interested in investing in commercial real estate in Dubai for resale, then this article will be useful to you. In it, UAE Assets experts will talk about the benefits of buying unfinished housing in Dubai. And they will also describe the ways in which the resale of an apartment in the UAE will allow you to get a significant income. UAE Assets represents its services in key segments of the Dubai real estate market. In the catalog of our agency there is a wide variety of housing of various types, among which everyone can choose the right option for themselves.

How to choose an apartment in Dubai for resale

Why choose Dubai to buy property and sell it later? Local objects are always in demand among foreigners and are sold out almost instantly. Good demand creates supply, and there is practically no lack of demand in the UAE. Another plus is the absence of annual property tax payments and permanent income taxes. There is no real estate resale tax in the UAE; instead, the investor pays only a one-time fee of 4-5% of the value of the purchased property, after which he receives the property at his disposal.

How to make money on the resale of an apartment in the UAE? First of all, decide what kind of property you are going to buy. Most people prefer a ready-made object, forgetting that unfinished housing (off-plan) is a more profitable and budget option. In addition, when choosing a property for resale, you should pay attention to the following points:

• Location of the object and infrastructure. The cost, payback and rental income depend on the area. Housing in such elite areas as Dubai Marina, Emaar Beachfront, Palm Jumeirah, Peninsula, Business Bay and so on is considered to be in demand. A modern infrastructure has been deployed around them, which plays a big role in the choice of housing by foreigners;
• Type of property. Residential property is more liquid than resale commercial property in Dubai. For example, offices have ceased to be popular, as many specialists have switched to remote work after covid self-isolation. Now it will be much more difficult to sell a commercial property than a residential one;
• Dimensions of real estate. It is not recommended to take huge villas, penthouses and cottages if the goal is a quick resale of real estate in Dubai. Not every buyer can afford to buy such expensive housing.

If you are looking for a home to resell, then we recommend looking at 1-3 bedroom homes with an improved layout. It is better to choose unfinished housing in a good area than a huge penthouse in a less prestigious area of ​​the UAE - it will be more difficult to sell it.

Buying property in Dubai for resale

Is it possible to resell an apartment in the Emirates after purchase? Dubai is trying to provide residents and investors with maximum comfort and convenience. The country is one of the few where you can resell real estate without a certificate of ownership on hand. The developer provides a certificate that confirms the purchase of housing, as well as a registration certificate of the developer. The listed documents will be enough to sell both finished and unfinished real estate. It should be remembered that each developer has its own requirements for the resale of unfinished housing in Dubai. As a standard, construction companies require an advance payment of 40-50% of the property before selling. Before concluding a contract, you should discuss all the nuances with the developer.

If you are interested in how to resell property in the UAE, please contact UAE Assets. Our company is ready to advise you on existing issues. Experienced specialists will help you choose the right object and provide legal support during the transaction. Our organization employs qualified employees who will reduce the risks associated with the acquisition and resale of real estate in Dubai. UAE Assets has up-to-date data on real estate and developers in the UAE, so it can suggest the best options.