On the back of an economic boom that took place in the first decade of the 21st century, the United Arab Emirates have become a heaven of properties for sale, targeting prospective residents from across the entire globe. With crude oil constituting more than half of all of the country’s exports, UAE rulers have been wise enough to invest the proceeds into preparing the country for a sustainable future.
With its favourable investment climate, which is driven by low red tape, predictable regulations and a transparent judiciary, the UAE have become a melting pot of diverse companies and private persons alike. Ultra-high net worth individuals are looking to the country as a heaven of luxury real estate for any wish and imagination, while expatriate workers (which make up 80% of the country’s population) buy cheap and affordable dwellings.
The market currently offers good value-for-money, as there is greater demand for rented accommodation. To give an interesting statistic, around 70% of residents live in leased dwellings rather than those occupied by their owners.
The vast range of listings available on the YzerProperty platform will guide you through any property for sale in the UAE. You can browse through ads at your leisure and decide on the main criteria of your quest in your own time. You may wish to consider the following criteria:
A property for sale in the UAE can fulfil three purposes:
Place of residence. Buying your own place is not only an economic decision, but also an emotional one. Owning your proper dwelling allows you to mould it according to your and your family’s personal values and traditions based on the awareness that it will shape your livelihood for the years to come.
Holiday domicile. Maybe you have travelled to the country on business or short holiday and have fallen in love with the region? Many people with this experience have chosen the UAE as a holiday domicile.
Investment opportunity. As a young booming country, the UAE offer a fruitful breeding ground for investors who consider that the price of properties will rise in the future and see them as a long-term store of value.
Any individual Emirate’s local authorities regulate real estate purchases, so you should consult the relevant government website before proceeding with a transaction. This is especially important if you are a foreign citizen. Any prospective buyer should also familiarize himself/herself with maintanence costs or other regular expenditures, which could range from local taxes and to transportation charges.
Regional intricacies may include the availability of leasehold vs freehold properties, provision of a residence permits linked to the purchase of residential real estate and the availability of financing instruments such as mortgages for assist your transaction. Also note that there may be a minimum percentage of the purchasing price that needs to be paid in cash funds as one full installment in order to guarantee a successful completion.
Embark on an eventful search through YzerProperty listings and you will not be disappointed!