Top 10 Tips for Abu Dhabi Real Estate
Finding the Perfect Home in the UAE
For expats in any country, finding housing is one of the most immediate needs. For those who are in Abu Dhabi, housing options are available.
What are some of these options that an expat can take advantage of? What are the pros and cons for each option? How does one begin the process to procuring housing?
Here are our top 10 tips and suggestions to help you navigate through Emirati real estate as it relates to Abu Dhabi city.
Rent or Buy?
Like most countries, the options include renting and buying. Straight off the bat, only UAE nationals have the right to purchase freehold property.
That being said, however, expats can buy leasehold contracts in designated investment zones. The logistics of acquiring these contracts will be touched on in a bit. Renting is the other option. Lets take a brief look at that first.
Rentals in AbuDhabi
The rent prices in Abu Dhabi are high, and they keep climbing. This is because the demand is very high, but available rental properties are few. Seeing as the supply and demand is in favor of the landlord, tenants have to do their homework.
Being that rent is so high, an honest look at your budget is necessary. Also, you may need to be flexible on where you reside in the city of Abu Dhabi and how much space and amenities you have.
Enlisting the help of a realtor is helpful as they can guide you through the process.
Buying a House
Purchasing property can be a lengthy and time consuming process. To lessen this, hiring a professional, broker, realtor or lawyer, will be a big help.
The laws are not always clear. However, there are a few things to keep in mind.
First, the purchase of property does not guarantee a visa- no matter what is promised to you by the developer. The right to give a visa is strictly the UAE authorities. A developer can assist in that process, though.
Next, it is highly recommended that you arrange all your financial affairs before the search for property even begins. Know your budget and have your financial backing all set before you start. Factor in fees, including lender fees, broker and developer fees and the like.
Finding a place to call home is an important step in making a new country your own. By researching and seeking out the appropriate channels for help, you can make finding your home less stressful!