Things To Consider While Buying Property In Abu Dhabi
Abu Dhabi, and the UAE as a whole, is one of the most popular destinations for expats. It is estimated that there are around 8.4 million of them living in the UAE. Tens of thousands of these expats are from the UK, France, and the US, and it goes without saying that one of their biggest expenses is property. Buying property anywhere can be a tricky and lengthy process, particularly with the global property market in the state that it’s in right now. But there are so many fantastic places to live in Abu Dhabi, and if you know what you are looking for, you should be set up in your new home in no time at all.
You Will Need To Budget Properly
This should go without saying, but you will need to know exactly how much you have available to spend if you are buying property in Abu Dhabi. There will be fees to consider, but the most important factor is that you will need to be able to pay a 25% down payment on your new home at a minimum. Generally speaking, the cost that is advertised will not include government fees and commission, not to mention bank fees. If you are wondering how much property costs in Abu Dhabi, the answer is that it really depends on where you are looking at and what you are looking for. Luxury homes in Abu Dhabi will, of course, cost more than a studio apartment, but there is a wide range of villas, penthouses and many more across the city’s most desirable areas.
Find A Good Seller
We all know how difficult it can be to find the right property from a distance, which is why it is so important to find a sales agent that you can count on. You will want to find a firm with experience, with a range of different options that cover everything from single living apartments to family homes. Buying the perfect residential property in Abu Dhabi is a very exciting prospect. From water’s edge properties to skyrise homes with dazzling views over the city, Aldar has properties for everyone. Visit their website to find out more about buying property in Abu Dhabi.
Should I Rent Or Buy?
The question of buying or renting can be a tough one, and there is rarely a clear-cut answer. However, it is important to note that the UAE government has been introducing changes that have made it significantly easier for expats to buy property. If you know that you are going to be in the UAE for at least five to ten years, then it makes a lot of sense to buy instead of rent. You can apply for an investor visa that will grant you a term of residency depending on the amount of money that you are spending on your property.
Where Can I Buy Property?
If you are an expat looking to buy property in Abu Dhabi, then it is important to remember that there are some conditions. You can only buy property in one of the emirate’s investment zones. Reem, Saadiyat, Al Reef, Al Raha Beach and Mariya are just a few of the zones available. However, you can buy property on freehold, which has been a new development since 2019, and we have seen a huge boom in the property market since then. That means that you can rent your property, sell it, and make whatever alterations you want.