Dubai Marina or a synonym to luxury real estate and great prospects

With the development of a remote format of work and freelancing, more and more people choose the UAE as a permanent residence or for vacationing. Also, thanks to the comprehensive support of the real estate sector by the state and the systematic and competent policy, the Emirates has firmly consolidated its status as a safe place and a reliable partner in the field of investment. All this cannot but affect the rapid growth of requests for the purchase of investment apartments in Dubai Marina and the lease of residential properties.

When buying property in Dubai, investors and buyers pay attention to certain neighborhoods that offer the maximum potential for value growth and stable rental income. In this article, we discuss the beneficial upsides of buying properties in Dubai Marina in 2023.

What is special about Dubai Marina?

The newest district of Dubai Marina is located in the west of the city. Although the neighborhood is still in the process of construction, it already offers numerous attractions and luxury residences. It is an exquisite place with expensive hotels, yachts docked in the artificial harbor, and premium apartments.

Dubai Marina is a destination that never sleeps. In a bustling day and night, the most fashionable restaurants, trendy nightclubs, and luxury stores are open to the residents and tourists. Here you can stroll and visit multiple shops or rent a yacht and enjoy sailing in the crystal waters of the lagoon.

The neighborhood of Dubai Marina is frequently visited by thousands of tourists. Only here can you observe such an abundance of the most diverse and amazing skyscrapers, various recreational facilities, and numerous attractions.

Why is Dubai Marina a beneficial location for investments? 

Investment in Dubai Marina is a wise approach to maintaining wealth and a stable future and here`s why:

• The government of the UAE conducts a number of initiatives to attract foreign capital and talented specialists to the country.
• The government controls real estate price formation and transactions to guarantee the safety of deals.
• The government does not oblige property buyers to pay the taxes. However, there are several obligatory payments that can amount to 10% of the total value of the housing unit.
• Affordable cost to buy premium property in Dubai Marina. The amount of money that can go to pay taxes will allow you to buy an apartment with more space in Dubai Marina.
• The neighborhood of Dubai Marina is one of the popular areas in Dubai. Therefore, the minimum income from the purchase of an apartment and renting it out will be up to 10%. Moreover, there is always an opportunity to resell apartments and win the difference in prices.
• After the EXPO 2020, there has been a huge flow of visitors and expats who are potential tenants.
• The UAE government has developed a common economic strategy for 2030-2050. So, the purchase of real estate in Dubai Marina is a long-term investment that will definitely pay off in the near future.

Frequently asked questions about real estate in Dubai Marina

Purchase of real estate abroad is a procedure that requires deep investigation and checking of information. For this reason, there are several questions asked by foreign investors.

What taxes must a property owner pay in Dubai?

In the United Arab Emirates, there are no property or income taxes. Therefore, the possession of real estate in Dubai, as well as the receipt of income, for example, from renting it out, does not entail any tax consequences for the owner within the jurisdiction of the UAE. However, it should be understood that the property owner is responsible for its proper maintenance and is required to pay the maintenance fees set by the special organization. Typically, such fees are charged annually for the year in advance and vary from 20 to 80 dollars per square meter per year.

Is it possible to buy real estate in Dubai without agents?

Almost no real estate transaction in Dubai, as well as in the rest of the world, can be done without an agent. Real estate agents are mostly used by clients who want to rent, lease, buy or sell real estate. Working in the market, agents like no one else have information about who, what, and for how much they want to sell or buy. However, not all market players are properly registered and operate legally.

To consult the certified agent, address the real estate agency Dubai-Property.Investments. Qualified specialists are able to provide help at each stage of the transaction and deliver professional assistance. The consultation of the agent is highly recommended starting from the stage of choosing a housing unit.

Why is it important for an agent to be properly registered?

The Dubai real estate market is multinational. Buyers and sellers are usually foreign nationals. To facilitate the process of solving an argument in the process of a deal, it is recommended that the real estate agent is registered in Dubai. Therefore, a real estate agency with a registered office in Dubai is a serious guarantor of a deal. In addition, an important factor is the legal requirement for 100% ownership of such a company by local residents.

Is Dubai Marina suitable for comfortable living?

Apartments in Dubai Marina can be not only a long-term investment but a comfortable accommodation as well. As a place to live, the housing units in the neighborhood are characterized by the following features:

• Affordable maintenance. Compared to the cost of maintaining townhouses and villas, the costs here are minimal.
• Well-developed infrastructure.
• Good transportation links.
• High level of security.
• Great job opportunities.
• Numerous recreational facilities.
• Proximity to water.

The outcomes

There is a high demand in the real estate market in Dubai Marina. Buying a studio, one- or two-bedroom apartment is a good investment. It is much easier to sell over time or rent out such real estate than a private home, because of the flow of ex-pats