6 unbelievable things you never knew about buying property in Abu Dhabi
Abu Dhabi, the capital city of UAE is also one of the most favorable places for those looking to invest in real estate. The real estate market has been favorable to buyers in recent years. It is a buyer’s market and the surplus supply has also resulted in making the market favorable for those looking to buy a property in Abu Dhabi as an investment. If you do not have any particular property in mind and if you are looking for the best leads that can give you search journey a good jumpstart then visit the Abu Dhabi Real Estate section on Fazwaz website. There are plenty of perks to buying a property for residence as well as for investment in this large city. Here are some of the incredible things about Abu Dhabi real estate you should know about –
- There has been an introduction of the 10-year visa scheme for the expats in this city. This measure has created a surge in the real estate investment by the expats.
- The rental rates have been falling down in Abu Dhabi. So if you are looking to buy a property to fetch you rental income this is not the best city to choose in UAE. But there are some areas like Al Reef that are known to get better rental returns than the others. If you are looking for resale, there is a bright scope as the demand has been increasing.
- For all those looking to buy a property with a tight budget, there is the option to buy one off-plan. This is where there is no physical property available yet because the development is either in progress or it is yet to begin. This works if you pick an ideal location and a reputed buyer who is less likely to cause unrealistic delays.
- When you are buying a property from a previous owner you would only be paying the property value after signing of the Memorandum of Understanding. This makes it easier to be protected on the legal grounds as a buyer of a resale property. This is not something that you would see in many other real estate markets.
- For the best apartments in Abu Dhabi, some of the most affordable choices, ones with the best resale value and rental yields can be found in Al Ghadeer. This is also a prime location which is well connected with the rest of the city and therefore it is also a popular choice among those looking to buy a property of residence in Abu Dhabi.
- Given that the purchase process is simpler and the payment process is more flexible there has been a growing demand in the real estate market in Abu Dhabi. But the apartment prices have been dropping in recent years and is likely to remain on the lower side in the year 2019 as well.
With the prices dropping there has been a transition in the interest from the off-plan sites to the ready to occupy properties. On the whole, the market has been in favor of the buyers in Abu Dhabi.