10 factors to consider before you buy a place in Dubai
Thinking of purchasing property in the emirate? Here’s all you need to know.EDGAR staff September 9, 2014
If you're in the market for property, Dubai is just about the best place to look. With exciting new developments being announced all the time as well as the growing infrastructure in preparation for the 2020 Expo, the city is a real estate investor's dream.
Although it may look like it's impossible to lose if you buy in such a vibrant market, according to Pawan Batavia, director of Synergy Properties, there are still certain factors that can make or break your purchase. Here's what to look out for before you sign on the dotted line:
The ideal locations are ones that have good schools nearby, as well as the right amount of entertainment and shopping facilities. Public transport and healthcare facilities within the area are also important.
The layout of the rooms is always important, while a spacious open-plan kitchen seems to be the preferred option nowadays. A good property should include enough storage space, and a maid’s room is also a plus point.
Expectations should be realistic when judging the finish of a property. When shopping for high-end homes, it's safe to expect expensive features such as wooden floors and granite countertops, while less expensive properties will probably feature cheaper materials. You should take finish into account when comparing properties within the same price range.
While you can usually be comfortable in your own home, you must also take into account the neighbourhood. Safety, efficient sewage systems and the levels of noise as well as air pollution must be considered.
5. Developer profile
Always choose developers based on market reputation, experience and consistency with respect to all commercial aspects of the property. Their projects tend to be more reliable and less likely to have any construction errors.
The property must be a safe environment to live in. Factors such as attached garages, gated communities, attached security systems and fenced backyards are considered to be of great value in terms of the future of any property.
Don't get carried away by cheap prices. One of the common mistakes investors make is buying something of inferior quality simply because it's cheap. A reputed real estate developer will stick to reasonable prices, as something built cheaply guarantees no quality.
Good amenities tend to increase the value of a property by making it more desirable and worth investing in. Everything within a property - from the materials used in the lighting, to the swimming pool - should be be carefully reviewed before the decision is made.
Ensuring the ease of access to and from the property is another important factor. With traffic congestion common around residential areas, a central location with good public transport links and easy access makes the property worth buying.
10. Better returns
Properties in Dubai have traditionally been seen as good investments due to their good return rates in terms of capital appreciation, but some do better than others. For example, in some communities, villas are proven to sell faster than apartments. Details: visit Synergygroup.ae/real-estate