Buy Off Plan Luxury Apartments for Sale in UAE

Why Dubai is the most desired place to live in the world? Dubai is home to some of the most royal and luxurious residencies in the world. The emirate’s rising real estate industry is popular with both investors and renters. This fast-growing and bustling city is also known to be one of the most favorite destinations to live in the world due to its reasonably priced accommodation, access to luxury amenities and quality of life in terms of personal and financial security. Another reason behind Dubai being a popular destination in the world to invest in is due to the very high return on investment provided from an apartment for sale in Dubai. These are some of the reasons why the city of Dubai attracts millions of visitors annually and is home to residents of over 200 different nationalities. Those people who are looking to invest their assets in properties or different types of Off plan Apartments in Dubai find it the best and most financially secure place in the entire world.

What is a Freehold Property in Dubai?

Defining a freehold property is very simple. A property which is “free to hold” from anyone or any entity except the owner. Hence, the owner of such a property enjoys free ownership for perpetuity and can use the land for any purpose he desire. However in accordance with the laws of Dubai’s government, sale of a freehold property does not require consent from the state and hence requires less paperwork, thus, making it more expensive as compared to a leasehold property. Dubai’s freehold market is divided into two categories, based on whether it is freehold property exclusively for UAE nationality holders or if it is a freehold property which can also be purchased by someone from abroad or by a foreign investor. A freehold property refers to a purchase agreement where an investor or a buyer completely owns the property and the land it stands on and no one else owns it. Favorite freehold areas for locals or foriegners looking for Off plan Apartments in Dubai for sale include Palm Jumeirah, Downtown Dubai and Dubai Marina. Those looking for affordable freehold Off plan Apartments in Dubai can find them in Jumeirah Village Circle (JVC), Town Square, International City and Liwan. Freehold areas popular with GCC and UAE Nationals include Deira, Al Qusais, Al Nahda and Dubai Silicon Oasis.

What is a Leasehold Property in Dubai?

Leasehold properties are those properties sold on a leasehold basis, which is where the investor will be given the rights of a property for a fixed term ranging from 10 to 99 years in exchange of a negotiated amount for the property. Leasehold properties cannot be bought directly and must be leased from a landlord who holds the nationality of UAE. When the lease expires for leasehold property, the ownership and control of the purchased property is given back to the freeholder. Most areas which offer leasehold properties for expat ownership are those set up to be freehold areas for those who holds the nationality of UAE. Deira and Dubai Silicon Oasis are only such areas.

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