Things You Must Know About Before Buying A Flat In Abu Dhabi
Abu Dhabi is one of the most sought-after emirates, which gives its emirate brothers tough competition when it comes to real estate development. Investors and ex-pats worldwide are intrigued by the unique blend of modernity and traditional architecture. The commonest question that homeowners and investors have on their minds is, “How to buy a property in Abu Dhabi?” Whether you’re looking for a 2-bedroom apartment for rent in Abu Dhabi or you want to buy it, there are certain things that you must know about.
The UAE property market is rising exponentially and has recovered from the aftermath of the coronavirus pandemic. Property value in the UAE, especially in emirates such as Abu Dhabi and Dubai, has almost doubled recently. Abu Dhabi has registered; sales transactions of over US $41.13 billion this past year.
A growing population and a steadily expanding economy are the major contributing factors aiding the growth of the real estate market in Abu Dhabi. Search platforms, such as ADCP flat search, have made it easier for people across the globe to connect with the best property dealers in the UAE and get the home of their dreams.
What are the things that you should know before buying/renting a property in Abu Dhabi?
- Work with a professional real estate property dealer: If you’re a foreign national looking for residential properties in the UAE, then you must seek the help of a professional with expertise in the real estate market. Several property searching platforms such as ADCP flat search, offer top-of-the-range property deals for all types of real estate property.
- Understand the buying process: The UAE government has revised the rules for expatriates willing to invest or acquire property in any of the emirates. Foreigners are offered several benefits when purchasing a residential property in Abu Dhabi, which include property tax exemption and a high potential return on investment. Mortgage buyers in the country enjoy favorable mortgage rates.
- Know about the property: The real estate market of the UAE offers several types of properties, such as villas, condominiums, apartment complexes, family homes, etc. You can also opt for a gorgeous 2-bedroom apartment for rent in Abu Dhabi. Find the property best suited to your budget and preferences. Freehold residences have a higher appeal among foreigners. UAE residents can acquire freehold homes for living/renting purposes without any additional paperwork.
- Focus on your motive for purchasing the property: Different people require residential properties for varied purposes. If you’re on a working visa or vacationing and don’t plan on staying in the country for a long time, renting a residential property is better than purchasing one. For expatriates working low-wage occupations, purchasing residential properties can seem excessively expensive. If you plan on staying in Abu Dhabi for the long term, you must look for properties closer to your workplace with easy access to roads, hospitals, etc.
The UAE government has eased property ownership restrictions, making acquiring real estate properties in the country easier. Proper market research by leading real estate brokerage firms can help you choose the best property among many gorgeous options. Visit the websites of the leading real estate property dealers in Abu Dhabi and get the home of your dreams today!