What is interesting for buyers considering apartments for sale in Dubai is just how different each area – and even each building – can be. In fact, it’s hard to think of another major city with such variety on offer.
The phrase ‘spoilt for choice’ springs to mind, so it is important that people take their time to find the property that best suits their needs – and their lifestyle.
City centre excitement
Newcomers to Dubai, when they drive down Sheikh Zayed Road for the first time, are often awestruck by the soaring skyscrapers than line each side. Apartments for sale along the city centre stretch of Sheikh Zayed Road offer very individual types of property, and convenient access to both ends of the emirate. Buildings all along this stretch are very individual and apartments range vastly in terms of price, quality, and size. That is why it is good to view as many as possible and take into account the ‘extras’ – does the building have good parking, is it well maintained, is the apartment’s air conditioning system up-to-date?
Increasingly, buyers are being drawn to so-called outer areas of Dubai – both to find a bargain, but also to live in a community with some breathing space. Areas such as Sports City, Silicon Oasis, and the Greens are good examples of this and apartments there are of an excellent standard. Those worried about infrastructure and connectivity in these outer zones should know that taxis are very easy to get in almost every community, plus the metro lines are currently being expanded to have a much wider reach.
Bustling waterside living
A popular option for apartment buyers will be homes by the water, such as in Dubai Marina. This area has developed into a real hub for both business and leisure and properties there are of a consistently high standard. On the plus side, they are usually very well maintained flats in clean, attractive buildings, with good security. They are also great for on hand facilities such as supermarkets, salons, gyms, and restaurants. One con may be that these areas are almost too popular and traffic congestion, for Dubai Marina at least, has been an ongoing problem. Buildings here are also sometimes subject to changing rules such as pet ownership – so before any purchase get all the details clarified, and written down.
Know the process
Experts agree that flats for sale offer the chance to make a great investment, but you should still exercise caution – as with any property purchase.
It is crucial to understand the purchasing process in Dubai. When buying off-plan, expats need to submit their passport, along with a reservation form that outlines the terms and conditions of the deal. A reservation fee of between 5 to 15% is then paid to draw up the Sales and Purchase Agreement (SPA), that commits both parties to the deal.
For properties that are still under construction, ensure that the agreement includes a completion date. When purchasing resale property from a private seller, a Memorandum of Understanding (MoU) outlines the terms and conditions of the deal, after which the buyer usually puts down a 10% deposit of the property price to confirm his purchase of the property, pending approved financing. Once financing is obtained, the transfer of deeds can take place.