Earning profits from real estate property after renting or reselling on higher prices has been an old tradition across the world. Later advancements in technology have not only revolutionized our daily lives rather it also affected ways of doing business and investments. Now investors can think of making overseas investments all over the world in almost every business sector. If you want to expand your investment abroad, the overseas real estate sector allows you to make profitable investments. You can simply generate good profits in the shortest possible time without making further investments to set up your office in a foreign country. After observing international real estate investor’s interest to make overseas investments, the State Government of Dubai implemented freehold property legislation in the year 2007. According to this law, foreigners are being allowed to purchase Dubai properties with ownership rights.
Purchasing real estate properties in foreign countries with the future aims to earn profits could be a nasty task for inexperienced investors. If you want to be an overseas investor, planning to enjoy the benefits of tax-free and profitable investments in Dubai real estate read the following tips for international investors in Dubai.
Effective tips for making epic Overseas Investment in Dubai Real Estate
In order to make an epic real estate investment in Dubai, international investors are always trying to find business trips and tricks. Whether you are purchasing a property to live an opulent life in a super luxury apartment/villa or penthouse, or you won’t earn good profits with your investment, you must want to ensure the precision of your investment. However, the Real Estate Regulatory Authority has taken several steps to make Dubai real estate sector transparent. Inexperienced investors can take advantage of the following simple tips to make the most of their real estate investments in Dubai.
Tips for investors:
- Identifying your own budget is critically important. You must be very sure about your purchasing power otherwise you may definitely end up with a bad deal. Whether you are searching for a suitable property to make an investment on your own or you are taking help from a real estate professional, you should know the price range you can afford. You may also avail mortgages for property purchase, according to the mortgage cap limits for expats, implemented by the Central Bank of UAE. To avoid any type of cheat consider only authorized financial institutes for the lending mortgages.
- Make sure that you are dealing with a legal property owner or an official broker/real estate agent authorized to sell the property. It is advisable to confirm this thing before visiting the property. Also, enquire about government registration of project developers. Ask them to provide details of Escrow accounts and agreement with the main project contractor.
- Take some time to research the market. Compare the market value of an asset with location and growth capability of area. This will allow you to buy the best property apartment/villa at the best price with future possibilities to earn profits.
- Consider hiring an area expert or reputable real estate firm to inquire about the best possible properties available for sale in the market. They can help you to find the actual value of the property as you may not have enough knowledge about communities and profitable real estate projects.
- Once you have arranged funds for property purchase, visit that property with a real estate broker to inspect the property. Brokers are professionals and they can give you better advice to buy or not to buy that home. You must visit the property you are going to buy before making an initial down payment.
- Last but not the least, international investors must read contracts before signing them. If you have some confusion about any point consults with a lawyer.