3 Warnings When Buying Property in Dubai
Buying any overseas property requires careful research and consideration. Whether you’re buying in Denmark or Dubai, the house buying process is different in each country and there are different factors to consider.
Charles Neil, Chief Executive Officer at Landmark Properties told Emirates 24/7 what his most important factors were when buying in Dubai: “Location, who the Master developer is, who the building contractor was, monthly electricity costs, service charges, quality of build, energy efficiency...”
As with any other property, it’s vitally important to consider the area in which you’re buying when acquiring Property In Dubai. Tare Gouda, a Dubai Property expert, said: “Buyers often look for the best their money can buy but the top factors have been location, property size, amenities and community advantages. Our experience indicates that buyers should also consider the quality of the property and the neighbourhood.”
As well as buying in a good location, it’s also important to research the developer when buying property in Dubai.
Nick Marr, director of overseas property specialist HomesGoFast.com said: “When buying in the emirate, consider the master developer’s history as well as their track record of maintenance.
“You need to make sure that they have a reputation for a good build quality and that they maintain their properties in good order.”
A third important factor to consider when buying Property In Dubai is the service charge associated with the home you’re buying.
Ask yourself whether the service charges are transparent and find out how many people have paid their service charges.
Mr Marr added: “Don’t buy until you’ve established exactly what the service charges are and what they cover. You don’t want to own a property in an apartment block that is at risk of having services cut off thanks to non-payment of bills by the developer.”
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