Frequently Asked Questions
FAQ Buy
[toggle title=”Is foreign language knowledge essential to purchase property?”]No. Many foreign languages, particularly English, are widely spoken by property specialists here and legal formalities can be taken care of by your representatives without you needing to learn to speak the local tongue. Of course, if you are planning to settle in an area it is always both enjoyable and a common courtesy if you are able to learn at least a little of the local language – even if you don’t really need to! [/toggle]
[toggle title=”Can I get loans to buy a property?”] Yes, subject to your financial status – as is the case almost anywhere. Note that as a result of rapidly rising property prices, the maximum amount you can borrow as a percentage of the purchase price may only be 50% if you are an expatriate. The maximum percentage available for the purchase of a second property may be lower. It is typically not a good idea to base financial plans upon a single article’s summary though and it might be wise to seek experienced Dubai mortgages advice. [/toggle]
Rent FAQ
[toggle title=”Where are the most desirable areas?”] That is an impossible question to answer in abstract because it depends very much upon your requirements and personal financial status. For example, a city-centre apartment might be ideal for a young professional couple but perhaps less so for a family with young children. Once outside of areas in close proximity to the city centre, it will typically be desirable to search for somewhere that is on good public transport links into the centre and which has convenient shopping and other facilities. [/toggle]
General FAQ
[toggle title=”Is all property based in ex-pat communities?”]No, although there are many developments of communities around Dubai that will consist largely of people from outside the United Arab Emirates. The reason for that is simply due to the demographics of this city. A very large percentage of its population are not of local birth and are essentially foreigners who are working and living here, thus giving the city its international flavour. Some housing developments will consist of communities of villas and apartments whilst others might be more city-centre apartment block in style. There is almost certainly going to be an environment that will be to your liking.[/toggle]
[toggle title=”What are property prices doing at the moment?”]They are rising rapidly after some years of decline following the global economic crises. Of course, the increases will vary depending upon the type of property under consideration and its location. Those properties conveniently placed for the city centre or on good public transport lines, will continue to be in very high demand and costs are going up fast. [/toggle]