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Saturday 26 April 2014
9 things to know before buying UAE property
What to consider before you buy, from location to getting the right agent. Get the right agent
Location! is usually the first cry on buyers’ lips, but if you are new to the city or the buying game, finding a reputable estate agent is actually priority number one. He or she is going to be your eyes and ears for the duration of your search, and the process doesn’t have to be painful.
“Choose your agent carefully,” advises Adrian Popica, Residential Sales and Leasing Consultant, Betterhomes. “Although more regulated now, the real estate industry in Dubai still has some unethical agents looking to make a quick buck. Make sure your agent is Rera-registered, competent and most importantly looks after your interest not theirs.”
Get the cash together
Have your finances ready to roll because you might find your dream house quicker than you think. If you’re planning to buy through a mortgage, Popica advises first talking to the finance provider as it is crucial to know the borrowing limit. “There is nothing worse than putting an offer on a property and finding out that you don’t have enough funds to cover the purchase,” he says. Apart from being emotionally draining, you risk defaulting on the terms and conditions of the agreement and might lose your deposit.
Rajiv Ghanekar, Associate Director, Fine & Country real estate brokers, advises cash buyers to find out if the seller has an outstanding mortgage on the property and the outstanding loan amount. He says that international buyers should ensure that their complete funds have arrived locally, either in an Escrow (money held by a third party) or their own UAE savings account.
Is the view important?
Nobody wants to gaze upon power lines or find their garden backs onto the local fish market, so go and see the property rather than rely on photographs that can be altered to etch out minor (and even major) unsightly details. Yes everyone wants a great view, preferably from every room, says Ghanekar, but of course it comes at a premium. “This could translate into a price difference of about Dh500,000 to Dh1 million for standard apartments.”
Ghanekar’s advice is not to over-stretch your budget just for that view that you can still enjoy by simply taking a five-minute stroll. Though properties with a view do add character to the establishment, there is better scope for capital appreciation and it is quicker to rent or sell, he adds.
We all need good neighbours
In the UAE neighbours are much more than people to nod or frown at as you slam the door.
“The UAE is a melting point of nationalities and cultures,” says Popica. In the country’s many prestigious buildings at least five different nationalities can be living on the same floor.
“Although we all come from different backgrounds one thing we have learned is to respect others and their privacy,” he adds.
Ghanekar points out that most of us in the UAE don’t have a family network, so we tend to depend more on close friends and neighbours. “It is imperative to create good bonding relationships with your neighbours,” he says. It’s clear anywhere in the world that a cheerful greeting, a smile and a brief chat as you borrow a cup of sugar goes a long way to enhancing day-to-day life.
Nice neighbourhood?
If you don’t want to be on the rough side of town, check out its reputation before you buy, although of course fashionable areas do change. It’s hard to believe today’s trendy Notting Hill district in London was filled with impoverished squatters in the 1970s.
“You cannot really say that there are bad neighbourhoods in Dubai because the security is very good in all the areas,” says Popica.
Ghanekar sees all freehold developments in Dubai having an individual appeal, so the choice is down to personal taste and lifestyle preferences. He urges potential buyers to think about their long-term needs, which could include whether children will come along sometime, whether the prospective buyers frequently entertain guests, how far they are willing to commute and what their current community is lacking.
Check out the locale
Before purchasing, drive though the neighbourhoods you have shortlisted to check out all the facilities such as schools, parks, supermarkets, banks and the ease of access to public transportation.
Access prerequisites
An easy route in and out is what residents of Discovery Gardens dream about. Although their situation is bound to eventually improve, queuing for hours to get home can cancel out the joy of owning your new homestead — you might even regret buying it.
Sean McCauley, Director, Asteco, asks prospective buyers, “Has the master developer delivered all road connections to the community? Is the area close to main arterial roads? Are taxis easily available and how easy is it to use public transport?” And Ghanekar suggests potential buyers drive the route during the peak traffic hours and study the overall master plan of the community.
What about the pets?
“Generally pets are allowed in villa communities rather than apartments, although some master communities are restricted to dogs and cats only with some basic rules in place,” says McCauley. Pet owners must gain the landlord’s permission and following that, the approval of building management or developer, for often even though a landlord has allowed a pet the community rules may deny it.
Staff accommodation – is this important?
Happy staff equals a happy home, so accommodation for full-time domestic help should be a priority for it increases savings, security and flexibility. “For certain properties this is really important.” says McCauley who finds that when a three-or four-bedroom apartment is for sale in a prime location, “one of the first questions buyers will ask is if the unit has a maid’s room. Larger families will insist on this.
Location! is usually the first cry on buyers’ lips, but if you are new to the city or the buying game, finding a reputable estate agent is actually priority number one. He or she is going to be your eyes and ears for the duration of your search, and the process doesn’t have to be painful.
“Choose your agent carefully,” advises Adrian Popica, Residential Sales and Leasing Consultant, Betterhomes. “Although more regulated now, the real estate industry in Dubai still has some unethical agents looking to make a quick buck. Make sure your agent is Rera-registered, competent and most importantly looks after your interest not theirs.”
Get the cash together
Have your finances ready to roll because you might find your dream house quicker than you think. If you’re planning to buy through a mortgage, Popica advises first talking to the finance provider as it is crucial to know the borrowing limit. “There is nothing worse than putting an offer on a property and finding out that you don’t have enough funds to cover the purchase,” he says. Apart from being emotionally draining, you risk defaulting on the terms and conditions of the agreement and might lose your deposit.
Rajiv Ghanekar, Associate Director, Fine & Country real estate brokers, advises cash buyers to find out if the seller has an outstanding mortgage on the property and the outstanding loan amount. He says that international buyers should ensure that their complete funds have arrived locally, either in an Escrow (money held by a third party) or their own UAE savings account.
Is the view important?
Nobody wants to gaze upon power lines or find their garden backs onto the local fish market, so go and see the property rather than rely on photographs that can be altered to etch out minor (and even major) unsightly details. Yes everyone wants a great view, preferably from every room, says Ghanekar, but of course it comes at a premium. “This could translate into a price difference of about Dh500,000 to Dh1 million for standard apartments.”
Ghanekar’s advice is not to over-stretch your budget just for that view that you can still enjoy by simply taking a five-minute stroll. Though properties with a view do add character to the establishment, there is better scope for capital appreciation and it is quicker to rent or sell, he adds.
We all need good neighbours
In the UAE neighbours are much more than people to nod or frown at as you slam the door.
“The UAE is a melting point of nationalities and cultures,” says Popica. In the country’s many prestigious buildings at least five different nationalities can be living on the same floor.
“Although we all come from different backgrounds one thing we have learned is to respect others and their privacy,” he adds.
Ghanekar points out that most of us in the UAE don’t have a family network, so we tend to depend more on close friends and neighbours. “It is imperative to create good bonding relationships with your neighbours,” he says. It’s clear anywhere in the world that a cheerful greeting, a smile and a brief chat as you borrow a cup of sugar goes a long way to enhancing day-to-day life.
Nice neighbourhood?
If you don’t want to be on the rough side of town, check out its reputation before you buy, although of course fashionable areas do change. It’s hard to believe today’s trendy Notting Hill district in London was filled with impoverished squatters in the 1970s.
“You cannot really say that there are bad neighbourhoods in Dubai because the security is very good in all the areas,” says Popica.
Ghanekar sees all freehold developments in Dubai having an individual appeal, so the choice is down to personal taste and lifestyle preferences. He urges potential buyers to think about their long-term needs, which could include whether children will come along sometime, whether the prospective buyers frequently entertain guests, how far they are willing to commute and what their current community is lacking.
Check out the locale
Before purchasing, drive though the neighbourhoods you have shortlisted to check out all the facilities such as schools, parks, supermarkets, banks and the ease of access to public transportation.
Access prerequisites
An easy route in and out is what residents of Discovery Gardens dream about. Although their situation is bound to eventually improve, queuing for hours to get home can cancel out the joy of owning your new homestead — you might even regret buying it.
Sean McCauley, Director, Asteco, asks prospective buyers, “Has the master developer delivered all road connections to the community? Is the area close to main arterial roads? Are taxis easily available and how easy is it to use public transport?” And Ghanekar suggests potential buyers drive the route during the peak traffic hours and study the overall master plan of the community.
What about the pets?
“Generally pets are allowed in villa communities rather than apartments, although some master communities are restricted to dogs and cats only with some basic rules in place,” says McCauley. Pet owners must gain the landlord’s permission and following that, the approval of building management or developer, for often even though a landlord has allowed a pet the community rules may deny it.
Staff accommodation – is this important?
Happy staff equals a happy home, so accommodation for full-time domestic help should be a priority for it increases savings, security and flexibility. “For certain properties this is really important.” says McCauley who finds that when a three-or four-bedroom apartment is for sale in a prime location, “one of the first questions buyers will ask is if the unit has a maid’s room. Larger families will insist on this.
Wednesday 13 February 2013
Monday 17 December 2012
Thursday 12 July 2012
Wednesday 11 July 2012
Famous Residential Communities in Dubai
Choosing accommodation place is very important issue for those who are planning to relocate any foreign country. This issue becomes more important if you are planning to relocate Dubai as this city has several residential communities that differ drastically from each other in terms of standard of living. Residential communities in Dubai include luxurious and breathtaking home and villa communities as wells apartment complexes in crowded areas. Deciding final accommodation place to settle down in Dubai mainly depends on a person’s capability to spend money on accommodation. People who are relocating and searching residential community to execute their accommodation needs may have their own preferences. Major issue that all expats consider is the accessibility to their workplace, schools, shopping centers and main city area. Dubai is one of the fastest growing cities of the United Arab Emirates that offers wide choice of places where migrants can live. Even foreigners can purchase a leasehold property all over the Dubai and freehold properties in specific areas of this city.
Living in any specific community has its own pros and cons. Some communities provide easy access to work place and main city area while others offer affordable accommodation in a peaceful environment. Following are few of the residential communities in Dubai that are famous among most of the locals and expat residents.
Al Barari
l Barari is a master planned community of 330, 5-7 bedrooms villas on 14 million square feet area. The location is perfect that makes this place easily accessible from old and new Dubai. It also has 16 different varieties of lush green gardens, manmade lakes, ponds, themed gardens, open air theaters and superb restaurants. Villas are designed and built on 4 unique architectural themes-Bromellia, Camellia, Acacia and Dahlia. It is also a first residential community that built to use for mixed purpose. Almost all villas have rooftop gardens and artificial waterfalls.
Arabian Heights
Arabian Heights is located in Dubai Silicon Oasis (DSO) that is known as center of advanced electronic design and development. This project is a 15 level high tower with 440 modern apartments. Residents can enjoy beautiful sight of deserts and landscapes. Project has its own vibrant garden. Apartments are built on Arabesque architectural design theme. It is a highly luxurious residential community that provides number of facilities at your fingertips. It is a perfect mix of Arabian heritage and state of the art modern construction. Community has 1 and 2 bedroom apartments and spacious studios.
Burj Dubai
It is the world tallest building containing apartments, restaurants and malls with other recreational facilities like 4 swimming pools, observation platform and library. Residents feel proud to have this 161 level high building’s name in their residential address.
Dubai Marina
Dubai Marina is the first residential community in Dubai which provides freehold property owner ship to foreigners that significantly increases property prices in this community. Total area is around 30 million square feet. It consists of 10 districts. Dubai Marina is constructed around a waterside walkway also allows easy access to parks, boat berthing, restaurants, daycare centers, fitness club and spas, business centers, cafes and shopping outlets. Other facilities include CCTV security, digital and satellite television and high speed internet.
Al Barsha
Al Barsha is a newly built community that provides good accommodation at affordable prices. Major property types are villas and mid rise apartments. It provides very easy access to major business hubs of this city including Media City and Internet City. It is very secure place and become famous among migrant workers due to its reasonable rents. Community doesn’t allow foreigners to make freehold property purchase.
Jabel Ali
Jabel Ali is located 35 kilometers in southwest part of the city. This community offers accommodation to foreigners as well as also possesses 5,500 companies of 120 countries. Residential developments consist of villas and plush properties. This community is less accessible from other parts of city but establishment of its free zone along with Internet Media Cities, this village has recognized as one of the popular residential area of this city. This community has plenty of green areas with easy access to major life’s amenities.
Dubai Pearl
This community is located at foot of Palm Jumeirah. Its location is ideal for business, living and leisure activities. It is surrounded by Dubai dynamic technology and media free zone. Techno Space is also located in Dubai Pearl.
Emirates Hills
It is a famous residential area which is located several miles away from downtown area of Dubai. It provides peaceful living with lot of greenery in surroundings. This community offers almost everything that resident’s need. Two latest malls are also located just 10 min away from Emirates Hill. This project offers excellent educational facilities but lack healthcare facilities. Residents have to travel to other communities in surrounding to avail health services.
City of Arabia
The community extends on 20 million square foot area situated at the center of DUBAILAND and work as a gateway for residential and retail centers. It has several business and administration offices, schools, clinics, super luxury apartments, shops, galleries restaurant and other unique attractions. Due to such diverse property developments, city of Arabia has become a major destination in new Dubai.
Business Bay
Business Bay is a freehold district of commercial and residential properties occupied total area of 64 million square feet. This area has potential to become a business capital of this city and offer good environment to setup business. It has 11 freehold residential towers, one luxury hotel tower, shopping mall, clinics and health clubs. Studio apartments and 1, 2, 3 and 4 bedroom apartments, pent houses, duplexes, terrace and garden apartments are also available. Currently this project is under construction and located in Dubai Creek. After complete construction this project will have 240 residential and commercial buildings.
Expats can choose any residential community that fulfills their basic life’s needs at prices. Expats usually prefer to opt for rental accommodation as the Dubai property prices are quite high.
For latest properties visit http://www.richtown.ae
Choosing accommodation place is very important issue for those who are planning to relocate any foreign country. This issue becomes more important if you are planning to relocate Dubai as this city has several residential communities that differ drastically from each other in terms of standard of living. Residential communities in Dubai include luxurious and breathtaking home and villa communities as wells apartment complexes in crowded areas. Deciding final accommodation place to settle down in Dubai mainly depends on a person’s capability to spend money on accommodation. People who are relocating and searching residential community to execute their accommodation needs may have their own preferences. Major issue that all expats consider is the accessibility to their workplace, schools, shopping centers and main city area. Dubai is one of the fastest growing cities of the United Arab Emirates that offers wide choice of places where migrants can live. Even foreigners can purchase a leasehold property all over the Dubai and freehold properties in specific areas of this city.
Living in any specific community has its own pros and cons. Some communities provide easy access to work place and main city area while others offer affordable accommodation in a peaceful environment. Following are few of the residential communities in Dubai that are famous among most of the locals and expat residents.
Al Barari
l Barari is a master planned community of 330, 5-7 bedrooms villas on 14 million square feet area. The location is perfect that makes this place easily accessible from old and new Dubai. It also has 16 different varieties of lush green gardens, manmade lakes, ponds, themed gardens, open air theaters and superb restaurants. Villas are designed and built on 4 unique architectural themes-Bromellia, Camellia, Acacia and Dahlia. It is also a first residential community that built to use for mixed purpose. Almost all villas have rooftop gardens and artificial waterfalls.
Arabian Heights
Arabian Heights is located in Dubai Silicon Oasis (DSO) that is known as center of advanced electronic design and development. This project is a 15 level high tower with 440 modern apartments. Residents can enjoy beautiful sight of deserts and landscapes. Project has its own vibrant garden. Apartments are built on Arabesque architectural design theme. It is a highly luxurious residential community that provides number of facilities at your fingertips. It is a perfect mix of Arabian heritage and state of the art modern construction. Community has 1 and 2 bedroom apartments and spacious studios.
Burj Dubai
It is the world tallest building containing apartments, restaurants and malls with other recreational facilities like 4 swimming pools, observation platform and library. Residents feel proud to have this 161 level high building’s name in their residential address.
Dubai Marina
Dubai Marina is the first residential community in Dubai which provides freehold property owner ship to foreigners that significantly increases property prices in this community. Total area is around 30 million square feet. It consists of 10 districts. Dubai Marina is constructed around a waterside walkway also allows easy access to parks, boat berthing, restaurants, daycare centers, fitness club and spas, business centers, cafes and shopping outlets. Other facilities include CCTV security, digital and satellite television and high speed internet.
Al Barsha
Al Barsha is a newly built community that provides good accommodation at affordable prices. Major property types are villas and mid rise apartments. It provides very easy access to major business hubs of this city including Media City and Internet City. It is very secure place and become famous among migrant workers due to its reasonable rents. Community doesn’t allow foreigners to make freehold property purchase.
Jabel Ali
Jabel Ali is located 35 kilometers in southwest part of the city. This community offers accommodation to foreigners as well as also possesses 5,500 companies of 120 countries. Residential developments consist of villas and plush properties. This community is less accessible from other parts of city but establishment of its free zone along with Internet Media Cities, this village has recognized as one of the popular residential area of this city. This community has plenty of green areas with easy access to major life’s amenities.
Dubai Pearl
This community is located at foot of Palm Jumeirah. Its location is ideal for business, living and leisure activities. It is surrounded by Dubai dynamic technology and media free zone. Techno Space is also located in Dubai Pearl.
Emirates Hills
It is a famous residential area which is located several miles away from downtown area of Dubai. It provides peaceful living with lot of greenery in surroundings. This community offers almost everything that resident’s need. Two latest malls are also located just 10 min away from Emirates Hill. This project offers excellent educational facilities but lack healthcare facilities. Residents have to travel to other communities in surrounding to avail health services.
City of Arabia
The community extends on 20 million square foot area situated at the center of DUBAILAND and work as a gateway for residential and retail centers. It has several business and administration offices, schools, clinics, super luxury apartments, shops, galleries restaurant and other unique attractions. Due to such diverse property developments, city of Arabia has become a major destination in new Dubai.
Business Bay
Business Bay is a freehold district of commercial and residential properties occupied total area of 64 million square feet. This area has potential to become a business capital of this city and offer good environment to setup business. It has 11 freehold residential towers, one luxury hotel tower, shopping mall, clinics and health clubs. Studio apartments and 1, 2, 3 and 4 bedroom apartments, pent houses, duplexes, terrace and garden apartments are also available. Currently this project is under construction and located in Dubai Creek. After complete construction this project will have 240 residential and commercial buildings.
Expats can choose any residential community that fulfills their basic life’s needs at prices. Expats usually prefer to opt for rental accommodation as the Dubai property prices are quite high.
For latest properties visit http://www.richtown.ae
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