It is convenient!!
This is one of the main reasons most people purchase real estate near the Dubai Airport. If your business interests have you flying out and into the country on a regular basis then it pays to live close to the airport.
You will save time, and money and be assured of making your flight on time. Plus, you have a variety of neighbourhoods you can invest in that surround the Dubai Airport. It is a good real estate strategy to look into.
All these neighbourhoods contain a variety of luxury and non-luxury housing, top supermarkets, and other amenities, so you shouldn’t be missing out on anything the other neighbourhoods offer. It is a good investment opportunity.
Why you are buying real estate in the neighbourhoods surrounding the airport is one of the most important factors in your purchase decision. Knowing why you want to buy here will help you filter out those housing units that won’t fit into your real estate strategy.
Plus, it will help you determine your purchase budget and what type of mortgage you should seek.
There are many neighbourhoods that sit right next to the airport and many that are close but not that close to it. Each of these neighbourhoods comes with its own restrictions on who can purchase the property, the amenities included, plus traffic issues.
Researching the different neighbourhoods helps you find the best property at the price you want to pay. Which neighbourhood you buy into will depend on your purpose for owning property there.
The factors involved in your research will be business responsibilities, family obligations, the type of lifestyle you want to live, and more. Doing your proper research will save you many headaches.
This is an important decision as the Dubai government usually only allows ex-pats to buy in specific freehold neighbourhoods. Your research should help you determine which of these options is best for you as well as identify those top freehold areas that have good real estate values.
It has only been recently that expats have been allowed to buy in non-freehold areas of the city. If these are near the Dubai Airport then they are worth considering.
Just because the neighborhood is near the airport does it mean it will be exempt from all the fees and other charges that are applied to those properties well away from it?
The best thing to do is talk to your RERA-approved estate agent for leads on the best neighbourhoods to buy into, the best banks that will lend in those areas, and the best developers to buy from.
Once your financial picture is ready, you can buy without worry as well as know your purchase limitations.
Some of the hidden costs will be maintenance and service fees. These charges vary depending on the type of house or apartment you will buy. The housing units near the airport are also not excluded from these fees and they can range in price so be careful.
Make sure to ask about all the fees that will apply to your new neighbourhood. Then add them into your financial picture so you are ready to pay those costs when they are due.
If you want to avoid problems buying property near the Dubai Airport, then avoid any person claiming to be a real estate agent or broker who is not RERA licensed.
Check them out with RERA directly to make sure the agent is legitimate. If you work with one that isn’t licensed by RERA, then you may not be able to complete the purchase of the property or suffer other financial losses.
Since you are buying a property in another country, the rules of purchase will be different from your home country. Make sure to talk to your broker about the buying process and learn about all the documentation that is involved.
The steps involved in making a home purchase are- how to make an offer, the negotiation process, the paperwork required, obtaining the no-objection certificate, transfer appointments, and the handover.
Each step is not done like back home. It will save you time and money to understand all the differences in each of these steps.
Usually, there is a standard 20% down payment for UAE and Dubai citizens. Sometimes expats can get that deal but generally, the down payment for a first home in the city is 25% for expats.
If you are buying a second home, then expect that down payment to rise to 40%. This is something else you need to talk to your estate agent about.
Part of the attraction the home will have will be the amenities in the area. Those airport neighbourhoods may not have all the amenities another buyer wants. That means the lack of amenities can lower your home’s value.
Also, closeness to the airport may have the same result with some buyers. The house may be perfect but location applies in Dubai as it does anywhere else in the world.
Generally buying near an airport is never a good idea. The noise level drives potential buyers away. But this can work in your favour as housing unit prices may be lower than in other parts of the city.
If you are interested in buying near the Dubai airport, call our estate agency. Our expert estate agents can help you find the perfect property in the many neighbourhoods surrounding the airport.
They will also be able to tell you about the different features that influence housing values. Call us today before you get started in your buying process so we can help you navigate this investment opportunity to your success.
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