Where to buy residential properties in UAE

Where to buy residential properties in UAE

Those want to live in the country for long tome better of buying property than renting

With residential property prices looking of soften this year now may be the ideal time to buy where you choose buy will of course be influenced by your lifestyle as well as what you are looking for in a property.

Depending on your budget background and future plans there are certain areas in UAE that offer freehold properties deciding at what you want from a residential property before you start looking will help you focus on your search

What are the aspects that are most important to you and your family are you looking for value appreciation over a certain period of time a guaranteed income from rent or an ideal  location for you and your family to live.

If you are a reason for buying a home it is to turn in into a rental property rather than a as a home to live in apartments tend to be the preferred choice as these can be easily rented out popular areas in Dubai are Jumeirah Lake Towers Dubai marina Jumeirah Beach Residence downtown
Dubai Palm jumeirah and International City in Abu Dhabi Reem island has a wide range of apartments choices.

However the high demands for family homes means that villas can prove to be an equally worthwhile investments although they do obviously come with higher prove tags there are many villa community to chose from including Arabian ranches emirates living jumeirah village Dubai silicon oasis Jumeirah park and Jumeirah Island in Dubai Raha beach and Saadiyat island in Abu Dhabi and Al Hamara village Mina Al Arab and the cove in Ras Al Khaimah

There are even a huge number of mixed use projects which feature both villas sand apartment currently developed in most countries

Therefore those who want o live in UAE for a longer period may be wise to buy a property and combine the benefits of monthly savings with long term investments.


SOURCE GN

Dubai : Affordable and safe living in Al Qassimiya

Dubai : Affordable and safe living in Al Qassimiya 

 The locale has always been popular among expat residents on a tight budget

The Al Qassimiya area of Sharjah is conveniently located near Al Ittihad Road, King Faisal Street and Corniche Road, and is known for providing a comfortable and, more importantly, safe living environment for all tenants within various apartments complexes. The facilities on offer include modern retail and shopping centers such as Mega Mall, Sharjah City Centre and Al Safeer Mall.

Also in the area is the Al Mahatta Museum which was the original site of the first airport that opened in the UAE in 1932. The museum offers children free access to educational movies and fully restored original propeller planes.

Well-known resedential complexes within Al Qassimiya include Manazil Tower 1 and Sunlight Tower which always been popular with residents who cannot afford expensive accommodation. In addition to affordable rents, they offer easy access to retail , health and educational facilities .

 There have, however, been problems with some residential buildings in the area being used as commercial properties. This is causing security problems due to access rights of those visiting commercial businesses in what some feel should be a restricted-access residential building.

In addition to this rental rates in Sharjah in recent years have seen increases of up to 15 percent in areas such as Al Qassimiya due to strong growth in the demand and lack of quality stock. Once an affordable area, now a one-bedroom apartment can cost as much as Dh26,000 per year, while a two-bedroom apartment can cost anywhere from Dh25000 to Dh 35,000. According to the Sharjah Ministry regulations , rents can only be increased for a tenant every three years ; however, new tenants who are moving in are being charged Dh2,000 to Dh5,000 more than what the other tenants have been paying. 

Despite all this, Al Qassimiya remains a popular resedential destination in Sharjah especially for those community to DubI along Sheikh Mohammed bin Zayed Road

The case of non-renewable tenancy contracts.

The case of non-renewable tenancy contracts.

Go through every detail of the contract and make sure you understand all clauses

Has your tenancy contract of your ended and has the landlord demanded termination eviction instated of renewal check if you have signed a non renewal tenancy contract usually tenancy contract are enwalled expect if they are particularly marked nonrenewable or may have some clauses that make them non renewal led also sometimes the landlords writes the non renewal clauses in ambiguous words which the tenant may be unable to catch at all times of signed the contract.

This strategy is applied by some landlords so they may not be found bound to adhere to any rent cap or in case of DUBAI the RERA rental index. When the landlord issues a nonrenewal contract for one year he can ask the tenant to leaf if the tenant disagree to pay the increased rent in this situation the landlord can avoid any rent cap clause and lease the property to a new titan on a higher rent .
If he tenant has signed and willingly accepted the non-renewable clause in the contract, then he has to comply with the terms and honor the agreement.

As a tenant, before signing either for the first time tenancy contract or renewal contract, it is pertinent to go through it thoroughly and understand all the clauses perfectly. Taking legal device could be helpful to avoid any disputes later. This is particularly useful for expatriates new to Dubai. Also, a tenant should remember that no landlord can forcefully make him sign a non-renewable contract. But the landlord is entitled to send a non – renewable contract when renewal for the new term with a one-year notice.

In case the tenant has signed a non-renewable contract unknowingly and does want to vacate the property, he can try negotiating with the landlord by expressing his desire to renew the contract and see if he agrees. Typically landlords are aware that most tenants would like to renew the lease after the expiry of the original lease. If the landlords and tenants reach a mutually beneficial agreement, the matter can be resolved amicably.

Real Estate Tips

•    Ensure you have full understanding of the tenancy contract and tenancy rights

•    Negotiate with the landlord so you reach a mutually beneficial agreement.

•    Always prefer a renewable contract over a non-renewable one.

The Business of Mortgage Settlement Explained.

The Business of Mortgage Settlement Explained.

Buyers and sellers must understand the nitty-gritty of settling a mortgage.

The mortgage market is the vast and quite complex how ever it is important for mortgage settlements to take place as these provide assistant to both homeowners and borrowers property buyers have a ensure several clauses are included in the memorandum of understanding (MoU).

The procedures that a cash buyer who settles a seller mortgage include pre-regostering the mortgage property at the land department which is highly essential using escrow agents undertaking a letter from  the seller to his her bank requesting the bank to release all original property documents to the purchaser only. 

Another major component are the security cheques which are equal to the mortgage.the amounts will be held as security only by the real estate agency and will be returned back to the seller on the transfer date once the property transfer is completed by the seller.

Escrow agents operate as natural third parties on behalf of buyers and sellers in a real estate transection. The seller gives a price on application (POA) in favor of the escrow agent purchaser to be used for security purposes only if the seller attempts to default on his her obligation.

The undertaking letter from the seller to his her bank instructs or request the bank to release all original property documents to the purchaser only. It is inclusive but not limited to banks issuing a no objection certificate (NOC) and title deed to the purchaser or purchase bank. A buyer should also ensure that the seller banks credit the fund a received from him into the sellers loan account and not into the sellers current or savings account and obtain a confirmation from the seller bank for the same. 

The security cheques can also be realised to the purchaser and can be deposited or encased by the purchaser if the transfer is not completed by the seller default on his obligation to complete the transfer to purchaser. 

To make sure you are on the right end of a mortgage closing it is important to follow four pieces of advice avoided any major purchaser before closing your mortgage plan don't make any big or drastic careers changes always prepare for a last minute credit check and always watch out for closing cost surprises  

The case of non-renewable tenancy contracts.

The case of non-renewable tenancy contracts.

Go through every detail of the contract and make sure you understand all clauses
has your tenancy contract of your ended and has the landlord demanded termination evection instated of renewal check if you have signed a nonrenewal tenancy contract usually tenancy contract are enwalled expect if they are particularly marked nonrenewable or may have some clauses that make them nonrenewal led also sometimes the landlords writes the nonrenewal clauses in ambiguous words which the tenant may be unable to catch at all times of signed the contract.

This strategy is applied by some landlords so they may not be found bound to adhere to any rent cap or in case of DUBAI the RERA rental index. When the landlord issues a nonrenewal contract for one year he can ask the tenant to leaf if the tenant disagree to pay the increased rent in this situation the landlord can avoid any rent cap clause and lease the property to a new titan on a higher rent .
If he tenant has signed and willingly accepted the non-renewable clause in the contract, then he has to comply with the terms and honor the agreement.

As a tenant, before signing either for the first time tenancy contract or renewal contract, it is pertinent to go through it thoroughly and understand all the clauses perfectly. Taking legal device could be helpful to avoid any disputes later. This is particularly useful for expatriates new to Dubai. Also, a tenant should remember that no landlord can forcefully make him sign a non-renewable contract. But the landlord is entitled to send a non – renewable contract when renewal for the new term with a one-year notice.

In case the tenant has signed a non-renewable contract unknowingly and does want to vacate the property, he can try negotiating with the landlord by expressing his desire to renew the contract and see if he agrees. Typically landlords are aware that most tenants would like to renew the lease after the expiry of the original lease. If the landlords and tenants reach a mutually beneficial agreement, the matter can be resolved amicably.

Property Tips

•    Ensure you have full understanding of the tenancy contract and tenancy rights
•    Negotiate with the landlord so you reach a mutually beneficial agreement.
•    Always prefer a renewable contract over a non-renewable one.

Distinguishing property free hold and leasehold

 Dubai Real estate

Distinguishing property free hold and leasehold

Know the requirement, implication of specific property types before choosing one over the other

With the recent success of the city escape Global exhibition held from October 8-10 people from across the globe have their eyes focused on the Dubai real estate market. People are not a shopping spree for the best of properties available to suite their requirements. But before we buy or rent a property we all will all the concern regarding whether a property is free hold or lease hold. Lets find out what this terms actually means

What is free hold property? In simple word it is property that's owned for life. By owning free hold property, you have  the supreme right to make use of it a way you want a subject to certain laws set by the government. Free hold properties are more popular for residential units than for commercial units. In free hold terms the property itself is an asset and may appreciate with ' time; however buying freehold property would make you see you a pinch in the pocket as compared to lease hold.

And while free hold property means ownership for life lease hold property involves ownership for a temporary period in which a tenant holds right to a property in some form of a title from the landlord it refers to simply acquiring ownership of an property for a given length of time (99 years being common). Thus the form of title or contractual agreement is used in lease hold transaction lease hold properties are more popular with commercial units than residential. The advantage is that they' re relatively cheaper to buy as compared to free hold though far more restrictive.

If you are interested in lease hold property before or buying or deciding it would be advisable to hire a property consultant who specializes in lease negotiation to help you acquire one on lease hold at the right price you also avoid the hassle of dealing with paperwork and unfamiliar legalities by letting a qualified solicitor take care of all formalities required.

More importantly leta qualified assessor check the actual property value and any other maintenance expenses cost etc involved before buying

Dubai Real Estate

Dip meeting industry warehousing needs

Dip meeting industry warehousing needs

Business park offers extensive solutions to large,medium and small enterprises

DubaiInvestment Park (DIP) is a much sought-after area in Dubai mainly on account of the facilities it offers to the industrial segment. The success of mainly industrial as well as industrial business houses depends, to a very large extent, on their logistical capabilities. Warehousing and storage facilities play a key role in this and that is one of the key strengths of DIP.

Spread over a vast area, DIP has industrial, commercial and residential complexes, meeting the growing needs of a wide range of industries. DIP enjoys the distinct advantage of being strategically located very close to upcoming international airport in Jebel Ali as well as Jebel Ali Port.

Moreover DIP has excellent road access to almost all key business areas in Dubai since there is access from Shaikh Mohammed Bin Zayed Road as well as  Shaikh Zayed Road. It is also relatively close to Abu Dhabi.

DIP offers extensive warehouse and storage facilities as well as dedicated plots where companies can custom-build warehouses that will meet their requirements. There are also ready-made warehouses available at attractive rental rates. There are many warehouses that come with adequate office space thereby providing companies with the opportunity to have the office and warehousing operations under one roof and efficiently managing their logistics needs. Many manufacturing companies located within DIP find this to be a major advantage since it optimizes the production to warehouse to retail outlet cycle.

According to a conservative estimate, more than 200 warehouses spread over 1.4 million sq.ft were leased out last year, and reliable information shows that the numbers have grown this year. A distinct advantage is the high level of security that is being provided to the warehouses in DIP with the compound being fully fenced.

Dubai Investment Park 

·       More than 200 warehouses in DIP were leased out last year.

·       It also offers plots where firms can custom-build warehouses. 

·       DIP has excellent road access to almost all key business areas.

 

Enjoy community living in’The Springs’

Enjoy community living in’The Springs’

For families who want peace and quiet in a serene, self-contained gated community.

The Emirates Living Community comprises of neighboring Emar properties including Emirates Hills, The Lakes, The Views, The Parklands, The Meadows, The Springs and The Greens.This area is close to Dubai Marina, Dubai Media City, Emirates Golf Club and the American University of Dubai.

The Springs is one of the preferred locales for families who want an ambiance comparable to that of Arabian Ranches, minus concern over the relatively longer drive away from the city. There are three schools in the vicinity of Emirates Living namely Dubai Internat ional Academy in Emirates Hills, Emirates International School in the Meadows and Dubai British School in Springs3.

The sprawling lush greenery, 24-hour security, parks, barbeque areas, community swimming pools, sports facilities, nurseries, mosques, numerous convenience retail options and medical center make this gated community sufficiently self-contained, whilst being close enough to upscale Dubai malls like IBN Battuta Mall and Mall of the Emirates.

Springs residents enjoy the amenities shared in common with other Emirates Living residents. They have access to the Emirates Hills Montgomerie Golf Course and the prestigious Golf Academy.

Homeowners of the three, four and five-bedroom houses with floor space areas ranging from1,772 square feet to 3,030 square feet also get their own carport for two cars, a private garden and balcony overlooking the picturesque landscape and neighboring developments.

According to a report from Asteco, prices in villa communities like The Springs, Arabian Ranches and The Meadows have gone up by 7% to 8% quarter-on-quarter. Demand is fueled by the excellent build quality of the properties and the limited number of units available in the market.

Dubai Real Estate Tips

 

The Springs is a part of the Emirates Living Community by Emaar

Of the three schools in the area, the Dubai British School is in Springs 3

Residents have access to the Montgomerie Golf Course and Golf Academy.

The difference between a townhouse and a villa in places that feature row houses.

The difference between a townhouse and a villa in places that feature row houses.

Some would-be buyers and tenants look for villas in places that feature row houses.

With numerous new developments continually cropping up in the local property market, it’s easy to get lost and confused as a buyer as the estate agent rattles on about this or that piece of property that would be a good option for your investment. But before deciding on a place or community, decide on whether you want an apartment, villa or townhouse first.

An example of the usual confusion in the market is when customers look for villas in The Springs. The fact of the matter is that there are no villas in The Springs but that actually a community that consists solely of townhouses.

In some communities like Al Furjan, Green Community, Arabian Ranches and Victory Heights, you will find a mix of both townhouses and villas.

One of the most important differences between a townhouse and a villa is that a townhouse is attached marking up a row or terrace (normally tall and narrow and generally having two or more floors),whereas a villa is an independent structure detached from any neighboring properties.

Villas are usually homes on larger plots of land whereas townhouses have smaller plots similar to the size of the built-up area. The term villa originates from the large country houses of Roman times considering of an estate with a farm and residential buildings arranged around a courtyard.

So if you’re one who’s desirous of more privacy, space and plan to have garden, and have the budget that allows for a villa property then go head and find yourself a nice villa-an excellent decision especially for people with a growing family. But if your budget is limited and you have nothing against living closer to your neighbor, then a row house or a townhouse might just be for you.

Dubai Real Estate Tips

Before deciding on  a place think whether you want a townhouse or a villa

A villa is an independent structure detached from neighboring properties

A townhouse is a style of housing where a row of identical houses share walls.