All You Need to Know About Buying Apartments and Flats in Dubai
Luxury Apartments in Dubai:
In recent times, Dubai has grown as a destination popularly known for its architectural wonders, with beautiful skyscrapers, some of the best penthouses and villas, as well as a number of other luxury properties, including luxury apartments as well. The apartments for sale in Dubai are actually a testament to the architectural prowess, urban planning and innovation of the city. Some of the most successful projects across the world have been built by developers like Emaar, Nakheel and Dubai Properties.
The Burj Khalifa by Emaar is today a world class structure, but they have also been credited by other constructions like Downtown Dubai and Dubai Marina.
The Various Property Types Available
Apartments for sale in Dubai come in an extremely wide range- from studios to expansive and extremely well built villas and penthouses. To look at a few specifics, the amazing community of Downtown Dubai offers elegant and sty;ish one bedroom as well as three bedroom apartments, which are beautiful structures with floor to ceiling glass windows, en-suite wardrobes as well as gardens and open plan layouts. Somewhat different from this, there is the Palm Jumeirah, which offers beachfront apartments, with private terraces and direct and unrestricted access to the beautiful beaches the residence faces.
For those interested in flats for sale in Dubai, there is again, a variety of communities to choose from. For those who would prefer to buy a flat in Dubai near the beach, Palm Jumeirah is a wonderful location for this too. But for those who may wish to explore other areas, some of the most popular options include Damac Hills, Townsquare as well as Dubai Hills Estate.
Overall expense of buying a flat in Dubai
Though flat prices in Dubai are generally considered reasonable, there are also some other expenses that need to be paid off when you buy a flat in Dubai. These include:
NOC fees: this generally ranges somewhere between AED 500 to AED 5000, and is usually paid to the developer. In some cases, developers may ask for a refundable deposit amount which is returned after the new title deed and updated records are presented.
Real Estate Agent’s Commission: This is about 2% of the total purchase price of the property.
Transfer Fees: This is generally about 4% of the purchase price, though it can be accompanied by an additional fee paid to the administration at Dubai Land Department when buying a flat in Dubai, and is generally not more than AED 5000.
Mortgage Registration fees: This is around 0.25% of the registered loan amount, and is supposed to be paid to the Dubai Land Department.
A Registration Trustee Appointment Fee must also be paid (usually in cash) and ranges somewhere between AED 4000 to AED 5000.
Education and Healthcare in Dubai:
Most of the residential areas in Dubai, whether those consisting of apartments for sale in Dubai or flats for sale in Dubai, are well served by a number of reputable healthcare as well as educational centers. For school going children, GEMS Wellington Academy and American School of Dubai are a few of the notable names. For higher education institutions, American University of Dubai as well as University of Wollong are some of the most sought after universities in the city As far as healthcare institutions are concerned, Mediclinic City Hospital and the American Hospital Dubai are a few of the most reputable institutions equipped with world class facilities and all the required amenities.
Location and Accessibility of Dubai’s Luxury Apartments:
Almost all the major apartments for sale in Dubai are located at locations that offer convenience as well as luxury. As far as public transportation is concerned, most of these residences are located quite close to metro stations and/or bus stations. And are easily accessible via both. For many locations, dedicated parking spaces are available within the premise of the main residence, or there is plenty of space available nearby.
As far as road networks around most apartments for sale in Dubai are considered, many of the residential communities are properly and strategically connected to major highways such as Sheikh Zayed Road and Al Khail Road, which allow easy access to all important areas of the city. For those who often have to travel, the Dubai International Airport is located about 15- 20 minutes away from all the major locations.
Additionally, a number of local recreational and leisure spots are also available to the residents of most apartments for sale in Dubai. Whether it is the Kite Beach, the Zabeel Park or other such locations, residents have full access to all these locations.
Overall Price Trends of Apartments for sale in Dubai:
Though the real estate market in Dubai is generally regarded as a flourishing one, it is important to note that the trends and prices have also seen fluctuations owing to a number of factors. Overall, prices for apartments in Dubai have been high in areas like Dubai Marina and Downtown Dubai owing to their prime location as well as luxury amenities. For instance, the average cost per square foot in Downtown Dubai ranges from about AED 2,000 to AED 2,500. Experts often predict that the market shall flourish further and prices may increase further, owing to the increasing demand of real estate in Dubai, by local residents as well as people coming into the city to settle down.