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The skyrocketing cost of real estate in the UAE, particularly in Dubai, continues to attract the attention of investors looking for new opportunities in the diversified metropolis. One of the world’s fastest-growing municipalities has evolved a landmark of innovation and bliss.
Currently, it has presented several promising projects. They boast exclusive residential properties offering all sorts of amenities. For those looking to buy the perfect home to move into or add to their investment portfolio, below is a list of the most promising communities.
© Can Stock Photo / jossdim
MBR City
You can buy villas in Mohammed Bin Rashid City for investment. It has evolved into one of the most expected locations in Dubai. There are good reasons for this, as the project has:
- The world’s biggest crystal lagoon.
- Various amenities.
- A new shopping mall.
- Several schools and hospitals.
In addition, massive development will be 20% larger than Manhattan.
Dubai Creek Harbor
A hotspot that combines maritime charm with a broad spectrum of amenities will allow locals to enjoy the sights of nearby sightsings. Dubai Creek Harbor houses suggest unparalleled views of the boulevard, cityscape, and nature of Ras Al Khor.
The seaside neighborhood has access to the Al-Khail Road, which can take you anywhere in the city. Here you can also enjoy a beach holiday on any day of the week. Investors should pay special attention to this area, as it will be as much as 3 times the dimensions of Downtown Dubai.
Mina Rashid
Mina Rashid is an artificial cruise port. It will serve as a seaside resort, tourist cruise destination, and residential area. The $7 billion complex is unique and combines urban modernity with sea views. The community draws even more attention with a 13-deck hotel, gourmet restaurants, and a wealth of entertainment options.
Emaar Beachfront
The community is being built for people who wish to rediscover a luxurious lifestyle overlooking the magnificent Arabian Sea. Locals will have access to a private beach away from the rush and bustle of the city, the marina, and the primary highway. As an exclusive residential community of just 10,000 people, Emaar Beachfront offers an exciting cruise terminal and has the potential to become the largest sail terminal hub in the next 10 years.
Dubai Marina
It is an area where people like to purchase flats. It is a built man-made canal extending along the Persian Gulf’s coast for 3 km. Known for its splendid buildings, the area is one of the most suitable locations for investment and one of the most prestigious areas to live in Dubai. Stylish amenities are presented in amazing flats in the area. Most of the buildings have spectacular ocean sights. Visitors often see the area due to the area’s presence of trendy eateries, bars, and shopping centers. It has something for everyone, being an expensive area. While studio flats are inexpensive, villas, 2-bedroom flats, and penthouses can be expensive.
Palm Jumeirah
It is one of the favored real estate asset destinations in the UAE. It is the world’s biggest artificial archipelago with a 2-km shaft and 17 funds, as well as a crescent moon covering it on the coast of the Arabian Sea. No one should miss the chance to live here because it is a wonderful adventure.
These unusual artificial islands also host public services such as educational establishments, medical buildings, drugstores, grocery shops, pleasing cafes, and exclusive coffee shops. It suggests a vast spectrum of styles. Numerous opportunities include classic Arabic-style manors, exquisite holiday residences, and luxury flats. The area has some of the highest rental costs in Dubai, with 3.2% ROI for villas and 5.5% for flats.
Who can help?
The Emirates.Estate aggregator, which collects the finest recommendations from the most reliable real estate agencies and developers in the UAE in its catalog, was explicitly created to help customers.
Is there any real estate taxes in Dubai?
Dubai does not levy property taxes on residential properties. This means that property owners are not typically required to pay annual property taxes based on the value of their real estate holdings.
However, it’s important to note that Dubai has introduced certain fees and charges related to real estate transactions and property ownership. These may include:
- Dubai Land Department Fees: These fees are payable during the transfer of property ownership and registration processes. They are typically calculated as a percentage of the property’s purchase price.
- Municipality Fee: A fee of 2% of the property’s annual rental value is levied on rented properties, payable by the landlord.
- Service Charges: In certain areas or communities, property owners may be required to pay service charges for the maintenance and upkeep of common facilities and amenities.
It’s crucial to stay updated with the latest regulations and consult with a qualified tax professional or legal advisor for accurate and current information on real estate taxes in Dubai, as regulations can change over time.
