The residential real estate market in the Emirates has witnessed great growth recently and has emerged as a strong competitor to the rest of the real estate in the Emirates. This has been reflected positively in terms of the increase in the number of expatriate and foreign investors from various countries of the world. Especially with their growing desire to buy and rent various types of residential properties in the most important areas and vital neighborhoods in Dubai, Abu Dhabi, and the rest of the Emirates.
- Several factors have contributed to attracting individual investors and real estate investment and development companies to the UAE real estate market, including the stable political and economic environment, ongoing legal and financial facilities, and safe and advanced infrastructure.
As we on Properties Portal website have accustomed you to keeping up with everything new in the UAE real estate market, we have devoted the lines of our next article to learn about the types of residential properties and their role in encouraging investments and attracting the best opportunities and profitable offers that support the real estate market.
Types of residential real estate in the UAE
There are many types of residential properties in the Emirates, which are as follows:
Residential apartments
The apartment represents one of the units of a residential building, and it is one of the most popular types of residential real estate in the Emirates. It is available in different sizes, large and small, with a difference in the number of main and additional rooms, bathrooms, and facilities. The apartments also feature luxurious and simple architectural designs according to the client’s request and in line with the property’s location and general architectural specifications. In addition, apartment prices vary based on their area, number of rooms, and the service and entertainment facilities available therein. The price also varies between furnished or unfurnished properties.
Villas are among the best residential properties in UAE
Villas in the Emirates are classified as separate houses of different sizes, which tend to be large and spacious. It is suitable for families consisting of several individuals to enjoy a good space that is compatible with their living style. Villas are often built on plots of land designated for their construction. For your information, most villas include a large number of rooms, in addition to a terrace, swimming pool, front garden, and surrounding outdoor courtyard. The more specifications the villa has and its service and entertainment facilities, the higher its price, whether for sale or rent.
Show: The best villas for sale and rent in the Emirates
Penthouse apartments
Penthouses are apartments located on the upper floors of residential buildings, and they often have large areas and balconies. It is also distinguished by its glass walls in most designs and on all four sides of the apartment, giving residents a distinctive view from a high altitude.
- In addition, penthouse residential properties feature all the amenities and entertainment, including swimming pools and private elevators. There are also rooftop gardens designed with the most beautiful decorations and the most luxurious international designs. This contributes to attracting investors and achieving high profitable returns from sale and rent.
Duplex apartments
Duplex apartments are considered one of the distinctive residential properties in the emirate, and are desirable for sale and rent, whether for a single person or families of several individuals. The apartments consist of two floors, connected by a staircase of different heights. Duplex properties share a distinctive and sophisticated architectural character, including the beauty of the exterior structure and interior decoration. It takes advantage of small spaces with the finest designs and decorates walls and floors with the finest and most luxurious types of covering materials.
Triplex apartments
Triplex apartments are considered one of the residential real estate options spread in the UAE real estate market. It consists of three apartments connected to each other by an internal staircase. This makes it similar to duplex apartments, except that it has an additional residential apartment. Therefore, it is an excellent choice for large families, especially with its competitive prices compared to other types of independent villas with higher prices.
Townhouse apartments
Townhouses are small independent houses or villas, united by a common wall with neighboring properties. However, each apartment has its own separate entrance, despite sharing the common wall. It is available in many residential areas in the Emirates at affordable prices and is suitable for social people.
Studio apartments
Studio apartments are among the smallest residential properties in terms of area in the Emirates. It is suitable for single people such as students, employees, and short-term tourists. Therefore, it is very desirable for rent and at reasonable prices compared to other types of residential properties.
The importance of investing in residential real estate in the UAE
The importance of investing in residential real estate in the UAE lies in the following points:
- Tax exemption: The UAE government has been keen to encourage residential real estate investment in its various types of properties, ready and under construction. It began to exempt investors from high taxes and facilitated the buying, selling, and renting of real estate without any commissions and high-cost fees. Including income taxes, capital gains taxes, and estate taxes.
- Residential real estate prices are competitive: Real estate prices in the UAE are considered acceptable compared to other major countries. Including residential real estate of various types. Consequently, this helped attract many pioneering investment opportunities with high investment returns for the investor. This led to the growth of the real estate market and the multiplicity of its options of apartments and villas at varying prices that suit all customer budgets.
- High investment returns: The real estate market in the UAE is recording increasing numbers of investment returns in cases of sale and rent. Due to the increasing number of expatriates to the Emirates for the purpose of work, residence, and tourism, and their need for housing, ownership, or rent. This encouraged investors to continue investment experiments and improve their profitable returns in the long term.
- Strong rental market: The stable situation witnessed by the UAE has contributed to the arrival of numbers of expatriates of various nationalities. Consequently, the number of people searching for a place to live and rent increased, until the expatriate’s situation stabilizes and his financial conditions improve. This led to an increase in demand for renting apartments and villas at the required price, contributed to the popularity of the rental real estate market, and increased its investment returns and profits.
The most important residential neighborhoods in the Emirates and demand trends
Here are the most prominent residential neighborhoods in the United Arab Emirates, as follows:
Dubai Marina
A distinctive residential complex in Dubai, featuring the best residential properties built in freehold areas. Therefore, it attracts foreign investors who want to buy and own property and then start investing in their real estate. Whether selling or renting, you can earn very affordable investment returns. The area of the Dubai Marina complex is approximately 30 million square feet, consisting of 10 residential areas of different sizes. The apartments are also distinguished by their diverse options in terms of the number of rooms, views, and proximity to the entertainment facilities available in the area. Including restaurants, cafes, gyms, health care centers, and other places for entertaining activities.
Residential properties in Emirates Hills
It is one of the most prominent residential real estate areas, which is several miles away from the Downtown Dubai area. Its residential project is also distinguished by providing multi-sized apartments with wonderful views and distinctive architectural design. Not only that but Emirates Hills is characterized by sophistication and luxury in urban design and coordination. This is in terms of allocating many green spaces around the buildings and organizing them with perfection and beauty. In addition to the presence of the most important service and entertainment facilities that residents need, including schools, health centers, swimming pools, clubs, and luxury shops.
Al Barsha
Al Barsha Residential Complex is considered one of the important real estate projects in Dubai. It provides many apartments, houses, and villas at affordable prices. Especially for rent, making it a great choice for newcomers to Dubai. On the other hand, the complex is distinguished by establishing many shopping centers and facilitating easy access to them. In addition to providing all the service and entertainment supplies that residents usually need.
Yas Island
Yas Island in Abu Dhabi represents a great option for investing in residential properties located within it. It includes a distinctive residential complex, including various types of apartments and villas at varying prices. In addition to its wonderful collection of restaurants, hotels, and sports clubs. The recreational activities it offers to visitors are amazing and loved by many of them.
Jumeirah Lake Towers
Jumeirah Lake Towers is classified among the most prominent residential neighborhoods in the Emirates – Dubai. It was designed to include a large number of apartments and residential units distributed in its famous towers. It also provided the area with the largest commercial centers, health centers, clubs, restaurants, and other entertainment facilities. In addition to its amazing atmosphere, it combines the beauty of urban design, the splendor of the views, and the availability of various entertainment and services at varying prices. Which achieves excellent profits for real estate owners and expatriate and foreign investors.
Business Bay
Business Bay is located in the freehold areas of Dubai and includes many residential and commercial properties over an area estimated at approximately 64 million square feet. The Business Bay area offers a variety of options from studio apartments, duplex apartments, two-bedroom townhouses, and more. In addition to providing the best services and recreational facilities for residents, making it a great residential option.
Downtown Dubai
Downtown Dubai is one of the most popular real estate areas. It owns the most important residential towers and skyscrapers in the world, which include the most luxurious residential properties for sale and rent at different prices. Therefore, it is a successful real estate investment for those who want to achieve continuous profitable investment returns.
Conditions for choosing a residential property in the Emirates
When choosing a residential property for sale or rent in the UAE, the following conditions must be taken into account:
- Choose the property within residential areas and freehold areas for foreign ownership.
- Ensure that the residential property is verified and that it is not sold or rented illegally.
- Verify that all official documents related to the property are completed and that no document is missing.
- Inspect the property carefully with the help of the best real estate agents to ensure that the property is registered with the Real Estate Regulatory Authority.
- Obtain a memorandum of understanding document and no objection certificate, especially for foreign investors.
- Pay all fees and financial dues resulting from sales or rental transactions.
- Registering the property with the Dubai Land Department or within the government agency of the emirate to which the property belongs.
Characteristics of the best residential real estate consultant
The best residential real estate consultant should possess the following attributes:
- Has extensive experience and full knowledge of the details and subtleties of the UAE real estate market and its ups and downs.
- The ability to identify cases of real estate fraud that a foreign investor may fall into.
- Mutual trust with the client and credibility in work, while adhering to deadlines and completing the required tasks with all speed and professionalism.
- The ability to find solutions to any problem that a client may encounter while searching for a residential property to buy or rent.
The best residential real estate financing companies in the UAE
There are many banks that finance residential real estate with real estate loans with multiple advantages, the most important of which are the following:
- Abu Dhabi Islamic Bank.
- Emirates NBD Bank.
- Emirates Development Bank.
- Abu Dhabi Commercial Bank.
- Mashreq Bank.
- RAKBANK
Registration of residential properties in the UAE real estate registry
The process of registering residential properties in Dubai includes following the following procedures:
- Go to the Dubai Land Department headquarters and visit the real estate registration offices directly.
- You can also visit the Dubai Land Department website and request the real estate registration service.
- Then enter all the required personal data.
- Also attach all papers and documents related to the property transaction.
- In addition to paying the real estate registration fees in full, and waiting for the process to be completed.
How do I display residential properties for sale or rent on Properties Portal website?
Properties Portal website provides you with distinguished services in terms of selling and renting your residential property, and all you have to do is follow the following steps:
- Enter the official website of Properties Portal.
- Contact the site’s customer service to inform them of your desire to sell or rent your residential property.
- You can seek the opinions of the best real estate agents and developers on the site.
- Provide the site administration with illustrative pictures of the property and all its information (location – area – number of rooms – price).
- Monitor the distinctive advertising offer for your ad listed on the official website page and with its full specifications.
- Properties Portal website will act as an intermediary between you and the client and providing reliable and secure communication until the sale or rental process is completed.
How to purchase residential property for sale in Dubai
You can purchase residential property for sale in Dubai by adhering to the following steps:
- Choose a residential property within the best residential neighborhoods or freehold areas designated for foreign expatriates.
- Determine the type of property, whether ready or under construction.
- Cooperate with a reliable real estate agent.
- Determine the budget allocated to purchase the property.
- Preparing the sales agreement when a suitable property is found between the seller and the buyer.
- Signing a memorandum of understanding between both parties of the sale process (buyer and seller).
- Obtaining a no-objection certificate to allow the transfer of ownership of the property from the owner to the buyer.
- Pay all fees owed by the buyer to complete the sale and real estate registration procedures.
The most beautiful apartments and residential homes in Abu Dhabi
The Emirate of Abu Dhabi includes the most beautiful apartments and houses within the following residential areas:
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Residential properties on Al Reem Island:
located on the northeastern side of the coast of Abu Dhabi.
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The most beautiful apartments and villas on Saadiyat Island:
located approximately 500 meters from the coast of Abu Dhabi.
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The best apartments and houses on Yas Island:
It is about half an hour away from the mainland in Abu Dhabi towards Dubai.
Benefits of investing in residential villas in Abu Dhabi
Investing in residential villas in Abu Dhabi brings many benefits to investors, the most prominent of which are the following:
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- There are a large number of villas in Abu Dhabi with various specifications to choose from, whether for sale or rent.
- Investing in a politically and economically stable environment.
- Obtaining various government facilities in the field of supporting real estate investment and improving infrastructure.
- Achieving high investment returns in buying and selling operations.
With this amount of information, we have reached the end of our article about the residential real estate market in the Emirates and the best apartments for sale or rent. We reviewed the most prominent neighborhoods and residential areas that provide the best options for apartments, houses, and villas, whether for sale or rent, in a way that suits the client’s capabilities. However, it is necessary to point out that the client’s goal for buying or renting the property and the financial budget allocated to him are determined in order to avoid running into any potential problems.
