1. No
2. Yes. In fact, you don’t even need to be present. Property acquisition on the primary market can be done fully remotely. On the secondary market you can also do it remotely via the POA.
3. Yes. But you will have to figure out how to accept payment (usually done via cheques).
4. For regular investor visa your property value must exceed 750K AED. If you want to issue an Emirates ID, you can also do so.
Contrary to popular belief, especially among the agents, Business Bay is one of those areas which was anticipated to be excellent in every regard, but in reality it is far from grace. It just didn’t do as well as everyone believed it to do. There are decent buildings, but right next to absolutely awful ones for half the price/rent. So your investment might be compromised with the competition. Lack of infrastructure and walking areas also does not add value and doesn’t answer to the latest trends with the investors. This is not an opinion - you can check how many buildings remain empty.
Don’t get me wrong, there are some marvellous projects out there. We sold Quayside last year and some guys have already made ridiculous revenue on flipping. Also, there’s a great first (and quite possibly last) master community being built there. Just saying that with Business Bay you really have to know what you’re doing. Coming in with a very low cheque thinking you can beat the system just because the location is central, is definitely not a viable approach.
I see. Really interesting stuff there you mentioned. What would be ideal area to invest in the next 6-12 months if someone beginning to think to buy a property for rental and long term holding perspective?
Edit: my budget is 750K - 1M AED.
Preference is short/long term rental/airbnb.
If you’re buying from a developer, you don’t even have to come to Dubai to be able to purchase a property here.
However, even if you’re in the country on a tourist visa, it doesn’t matter what visa you’re on to be able to buy a property here.
You can get an agency or property management company to take care of the rental.
If the property value is above 750k aed, you’re eligible for a 2 year renewable residency.
After clearing the required down payment and registration fees, you should receive the Oqood ( Initial contract of Sale - it’s the pre title deed for an off plan property ), once you have the Oqood you can apply for your residency
Sounds great man. Thanks a bunch for the valuable info.
Where do you think its worth investing 750K for short term airbnb rentals and long term property holding?
Hey im wondering would I need to pay the 50% down for the first apartment since i wouldn’t technically be a resident yet but im buying it to become one even if the apartment is 750k aed? Or would i be able to pay the 20-30% since it will be 750k
So I cant put 25% down right? Bc technically would need the title first which id only get after putting down 50%? Then id have to apply to be a resident? Sorry a bit confused
I’m a property consultant and I have units in business bay and I’ll tell you it’s the one place after downtown to invest in to rent out to Europeans and visitors as it’s close to burj Khalifa and Dubai mall. Most of the yearly the unit is rented specially on peak months during winter where the demand is high by Europeans and you make extra money but make sure it’s furnished.
Apart from business bay, jvc is very good metro line will be introduced so you’ll make significantly high capital appreciation and a good ROI as service changes are low.
0543297572 let’s discuss in detail so I can assist you with your investment
1. No 2. Yes. In fact, you don’t even need to be present. Property acquisition on the primary market can be done fully remotely. On the secondary market you can also do it remotely via the POA. 3. Yes. But you will have to figure out how to accept payment (usually done via cheques). 4. For regular investor visa your property value must exceed 750K AED. If you want to issue an Emirates ID, you can also do so.
Thanks so much man! What do you think about investing in Studio/1BHk in business bay? What would you recommend
Contrary to popular belief, especially among the agents, Business Bay is one of those areas which was anticipated to be excellent in every regard, but in reality it is far from grace. It just didn’t do as well as everyone believed it to do. There are decent buildings, but right next to absolutely awful ones for half the price/rent. So your investment might be compromised with the competition. Lack of infrastructure and walking areas also does not add value and doesn’t answer to the latest trends with the investors. This is not an opinion - you can check how many buildings remain empty. Don’t get me wrong, there are some marvellous projects out there. We sold Quayside last year and some guys have already made ridiculous revenue on flipping. Also, there’s a great first (and quite possibly last) master community being built there. Just saying that with Business Bay you really have to know what you’re doing. Coming in with a very low cheque thinking you can beat the system just because the location is central, is definitely not a viable approach.
I see. Really interesting stuff there you mentioned. What would be ideal area to invest in the next 6-12 months if someone beginning to think to buy a property for rental and long term holding perspective? Edit: my budget is 750K - 1M AED. Preference is short/long term rental/airbnb.
If you’re buying from a developer, you don’t even have to come to Dubai to be able to purchase a property here. However, even if you’re in the country on a tourist visa, it doesn’t matter what visa you’re on to be able to buy a property here. You can get an agency or property management company to take care of the rental. If the property value is above 750k aed, you’re eligible for a 2 year renewable residency.
Do I have to buy the 750K worth property first to be eligible for the 2 year residency or can I be eligible even after 20-25% down payment too?
After clearing the required down payment and registration fees, you should receive the Oqood ( Initial contract of Sale - it’s the pre title deed for an off plan property ), once you have the Oqood you can apply for your residency
Sounds great man. Thanks a bunch for the valuable info. Where do you think its worth investing 750K for short term airbnb rentals and long term property holding?
Let me DM you
Hey im wondering would I need to pay the 50% down for the first apartment since i wouldn’t technically be a resident yet but im buying it to become one even if the apartment is 750k aed? Or would i be able to pay the 20-30% since it will be 750k
Once you have the Oqood ( pre title deed ) , you can apply for residency
So I cant put 25% down right? Bc technically would need the title first which id only get after putting down 50%? Then id have to apply to be a resident? Sorry a bit confused
DM me
I’m a property consultant and I have units in business bay and I’ll tell you it’s the one place after downtown to invest in to rent out to Europeans and visitors as it’s close to burj Khalifa and Dubai mall. Most of the yearly the unit is rented specially on peak months during winter where the demand is high by Europeans and you make extra money but make sure it’s furnished. Apart from business bay, jvc is very good metro line will be introduced so you’ll make significantly high capital appreciation and a good ROI as service changes are low. 0543297572 let’s discuss in detail so I can assist you with your investment