Dubai Property - Investing in UAE Real Estate
Dubai has become an international property hotspot, with great architectural developments and ambitious projects rising up seemingly overnight. With the market still young and demand exceeding supply, the time is ripe for foreigners to invest in this vibrant, captivating city.
In March 2006 the Freehold Law was passed allowing foreigners either 99 year leasehold or freehold ownership of land in designated areas. Freehold or leasehold allows the foreign investor many advantages. Owners are able to sell or rent out the property if they so desire. Investment potential is high, with a great demand for short-term rentals and yields around 10 percent. Dubai does not levy taxes on income, including that obtained from renting property. In addition there is no Capital Gains Tax. With Dubai's population expected to double within the next five years causing the rental demand to increase, a property purchased for the purpose of leasing can be seen as a long term income-generating asset. Owners are not required to live in the UAE, but must visit the country briefly once every six months. There are several local and international property management companies, including Colliers International, Cluttons, Asteco, and JG Property Management, who can look after the property when the owners are away. Properties can also be passed on as inheritance if specific procedures are followed. Ownership of freehold property also entitles the first named owner to a 3 year renewable residence visa. (This visa does not permit the holder to take up work in the country.) The most popular Dubai property developments are the Springs, Dubai Marina, Emirates Hills, the Meadows, and Arabian Ranches. Other up and coming areas include Business Bay, the Palms (Palm Jumeirah, Palm Deira, Palm Jebel Ali), and Jumeirah Beach Residence.
Investing in Dubai's dynamic and fast moving market is quite simple. The only paper required is a relatively straightforward sales agreement. If necessary, foreigners can apply for financing. The two main lenders in Dubai, specializing in real estate mortgages, are Tamweel and Amlak. When buying property, it is advisable to use a lawyer and make sure a formal contract is signed, especially if purchasing on the secondary market. It is possible and quite common to purchase directly from the developer (such as Emaar or Nakheel) who may charge a transfer fee of between 1-3%. It is typical to have to provide a down payment, plus installments, with the final installment due upon completion or handover of the property. Upon completion, the property should be registered with the Dubai Lands Department. There is a land registry fee equal to 1.5% of the purchase price of the property. Owners should also expect to pay a yearly property maintenance fee which covers such things as any necessary plumbing or electrical repairs, cleanliness of the site, and security.
Buying a home overseas is a major decision. It is essential to research all aspects of a potential investment and deal only with reputable real estate agents since there is no formal structured purchase process in Dubai. Well-known real estate agents with good reputations in Dubai include Better Homes, GoWealthy, Re-Max, and Landmark Properties. Dubai's property market is likely to continue to flourish for the foreseeable future. Dubai is a thriving international destination offering a high standard of living, a tax-free lifestyle, and a safe and secure cosmopolitan community making it the perfect place to invest.
Ahmed Juma is a local UAE businessman and the owner of Emirates-Ads Classifieds, an internet portal with extensive listings for Dubai property, jobs, vehicles, and items for sale in the United Arab Emirates.


OH NO! - NO PETS ALLOWED – (Part Two)
Let’s not forget birds. I have a neighbour who gets constant complaints from an adjoining neighbour because his canary whistles much of the time when he is awake. I find the singing bird a constant joy to my ears. Tell me is a little canary, love birds or cockatiel worse than a mobile phone, computer games that screech, bleep and go ‘whiz - ping - bang’ repeatedly (and breaks the peace at night from 7:00pm to bedtime from another close neighbour).
We even have a ‘Dame Nellie’, who begins early in the morning seven days a week and the only song she is rehearsing, and has been rehearsing repeatedly for the last six months is one from Phantom of the Opera. And, that brings me to the lorikeets and magpies, which, live and nest in the gardens, and tall trees, which surround the apartment block. Just what does the complaining neighbour think of them when they begin their chorus at 5:30am in the morning? Does one little yellow bird really make that much of a difference?
Perhaps the complaining neighbour really dislikes the canary’s owner. Maybe the neighbour is annoyed enough to get them both evicted? Just on the quiet, we have two cats, two dogs, numerous fish, and even a couple of lizards and a python who live in heated aquariums. Now all of the owners of these creatures are thoughtful and fastidiously clean and as far as I know have not asked the owner of our apartments for permission to keep their pet. But who am I to cast the first stone. I have the biggest, fattest, furry moggy in the block, and all she does is doze in front of the French doors where the sun shines through on her white coat. What a happy family.
So to all those apartment hunters out there. Read those online listing and get in touch with the owners at rent-a-home.com.au where you can rent a spacious modern one bedroom pet-friendly unit available now. On the other hand, you can join OzFreeOnline.com, register and log in and then place your own free listing with all the requirements including ‘pet-friendly’ owner. If you can supply a reference from a previous happy property owner and perhaps offer a pet lease, you may just get the apartment you want in the right location.
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About the author:
Amos writes articles and press releases for OzfreeOnline - this piece she made served as an article exclusive for Ozfree Real Estate- which offers a comprehensive list of office & commercial real estates, apartment and house for rent, online real estate, house for sale, property listing, real property search and an apartment finder to thousands of properties in Australia.


A Condo or a House? A Few Things to Consider
Animals:
While you may love the views from your new downtown condo, little Rover might be happier with a yard full of sticks. Check for a common area or a nearby park.
Noise:
Though you may think you sound great on the bongo drums at 4 a.m., your neighbors might beg to differ. If you have a house, your yard can be a buffer zone for noise. If you have a condo, be prepared for some angry late night knocks on the door.
Size:
While you may want a cozy place now with a great view of the city, remember you�ll never be able to add on or expand with a condo. A house, on the other hand, can grow along with you and your family.
Proximity:
Most condos are centrally located. This means you get access to all things downtown: buildings, shops, restaurants, theaters, etc. This also means you get access to ALL things downtown: noise, traffic, crowds, construction, etc.
Maintenance:
With a condo, you don�t have to do home repairs�painting, fixing the roof, mowing the lawn, cleaning the pool�but instead you get to pay sometimes exorbitant HOA fees. Make sure the extra monthly expense you spend on maintenance is worth for you.
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