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, overseas real estate sector allows you to make profitable investments. You can simply generate good profits in shortest possible time without making further investments to setup your office in a foreign country. After observing international real estate investor’s interest to make overseas investments, State Government of Dubai implemented freehold property legislation in 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 future aims to earn profits could be a nasty task for inexperienced investors. If you want to be an overseas investor, planning to enjoy benefits of tax free and profitable investments in Dubai real estate read 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 want earn good profits with your investment, you must want to ensure about precision of your investment. However, Real Estate Regulatory Authority has taken several steps to make Dubai real estate sector transparent. Inexperienced investors can take advantage of following simple tips to make most of their real estate investment in Dubai.
- 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 suitable property to make 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 Central Bank of UAE. To avoid any type of cheat consider only authorized financial institute for lending mortgage.
- Make sure that you are dealing with legal property owner or an official broker/real estate agent authorized to sell the property. It is advice to confirm this thing before visiting property. Also enquire about government registration of project developer. Ask them to provide details of Escrow accounts and agreement with main project contractor.
- Take some time to research the market. Compare market value of asset with location and growth capability of area. This will allow you to buy best property apartment/villa at best price with future possibilities to earn profits.
- Consider to hire an area expert or reputable real estate firms to inquire about best possible properties available for sale in the market. They can help you to find actual value of 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 real estate broker to inspect property. Brokers are professional and they can give you better advice to buy or not to buy that home. You must visit property you are going to buy before making initial down payment.
- Last but not the least, international investors must read contract before signing it. If you have some confusion about any point consults with lawyer.