Since 2002, Dubai has gained momentum regarding real estate buying and selling. The Freehold Decree was formulated in this year that allowed foreign nationals to buy, sell, lease and rent properties in Dubai. However, the economic downfall of 2008 and 2009 affected the real estate economy in Dubai as much as it did elsewhere.
In 2017, these problems of the past have been mitigated and a fresh era of investment is brought by the IPF Real Estate agency in Dubai. Being the economic and cultural hub of the world, Dubai enjoys the privilege of hefty foreign investment and attracts tourists from all over the globe.
The constant decline in real estate prices since November 2015, has finally come to a standstill, which presents a ripe opportunity for all expats. With stunning villas and sky high apartments, there is no doubt that you would not want to be a part of this real estate revolution being brought by the leaders in the industry, the IPF Real Estate. They enjoy being a licensed partner of the Germany-based real estate firm, the Engel, and Volkers group.
IPF Real Estate agency offers both residential and commercial property deals and also assists the customers throughout the process of residential buying. Yet, some of these property buying guidelines are a must for new buyers.
1. Understanding the purchase options and process
Buying a property in Dubai is very simple, but you need to adhere to the laws stipulated for buyers' protection. You need to be accompanied by an authentic real estate agent who can negotiate a great deal for you, either in your presence or absence.
2. Stay wary of scams
Over the past few years, a lot of scams have tried to mislead foreign buyers. That's why the government has passed a decree that any real estate agency wishing to put out an advertisement must show authenticity. When you have a licensed professional on your side, you can either buy an off-plan project, or a resale from a private seller.
3. Buying an off-plan project
For off-plan properties, the agreement between the buyer and developer must include the completion date and must make a mention of the compensation to be paid out if there is a delay in completion.
4. Have the property surveyed
If you are purchasing a pre-existing property, then you must have it surveyed before signing the papers. During this assessment, surveyors can assess and inform the buyer of potential risks that would incur high-maintenance costs in the future. For example, when you are considering to buy a villa.
IPF Real Estate has a team of best professionals who are licensed to help you settle in Dubai and call it your home.