Today, the UAE is one of the most progressive countries in the world, and many expats prefer to live in this country.
Wealthy foreigners choose this country as an investment destination due to the local tax policy and high rental yields.
Investors also consider the high standard of living, as well as the state of the real estate market. However, it is important to take into account not only the economic indicators, but also other factors. For instance, for those who are going to live in the country permanently, it is important to take into account factors such as the climate and other features, and those who want to receive rental income need to take into account how attractive a particular city and neighbourhood is for expats and tourists.
Can private owners rent out apartments in Dubai for a short term? According to Law No. 26 published in 2007, the owner can enter into a contract with tenants for at least one year, but this requires a written permission – a hotel management license, which can only be obtained by a legal entity.
What can the owner do in this case? They can sign an agreement with a licensed management company and allow the company to rent out their property.
Another advantage of buying an apartment here is the warm sea. The water temperature almost never drops below +25 degrees Celsius, which is a great advantage for those who like to swim. A year-round summer, comfortable beaches, remarkably developed urban infrastructure make the UAE a popular destination for tourists and expats.
All of the above makes investing in UAE real estate very prospective, because the owners of residential and commercial properties can always rent them out or resell them at a higher price.
Property owners in the United Arab Emirates can live in their apartments permanently or use them as a second home. In addition, they can rent them out or resell them to make a profit, so there are many advantages to buying real estate, but little disadvantages.
Find your dream home in the UAE today. We have collected the best property deals in the United Arab Emirates. Our experienced agents are ready to help you choose the best villas and apartments, and our lawyers will do all the paperwork. We make buying a home in the UAE smooth and safe!