Buy Apartment in Dubai

The development of construction in the UAE and the high profitability of this industry have made buying apartments and houses in Dubai an exceptional investment. Among the various types of properties, buying an apartment in Dubai provides a great opportunity for obtaining residency.

An overview of the conditions for buying an apartment in Dubai:

Dubai is a unique city in the world that is commonly chosen as a tourist destination. According to statistics, approximately 4,670,000 people visited the town in the first quarter of 2023. Due to the remarkable economic progress in the real estate sector with buying a house in Dubai, the UAE has become one of the most popular economic and commercial hubs in the Middle East. One of the main reasons for this growth is the high profitability of investing in real estate, particularly in buying an apartment in Dubai.

Without a doubt, if you are reading this, you are considering buying an apartment in Dubai or want to make a well-informed decision by further examining this field. Our Newway Real Estate Advisors (Dubai apartment buying and selling site) will help you make a smart and well-informed decision to purchase your desired apartment, regardless of your taste and budget, with the experience we have gained over years of activity in this field.

In this article from Newway, we will explore the price of apartments in Dubai and how you can find the best apartments for sale in the city. So be sure to stay with Newway until the end.

Buying an apartment in Dubai is one of the ways to invest with a high rate of return. The return on investment, which refers to the ratio of profit to the capital invested, is a key indicator that determines the success of an investment. These factors, along with the option for installment purchasing of homes in Dubai, are some of the reasons why millions of investors from around the world are interested in investing in the real estate industry of this developed city each year.

The real estate market in this city is one of the safest investment methods for Iranians. By buying a cheap apartment in Dubai, you can transfer your capital to a safe and wealthy country compared to many units available in Tehran. This has led many of our compatriots to consider migration and residency in Dubai through property purchase.

Can non-UAE nationals buy an apartment in Dubai?

Some might think that foreigners are not allowed to buy property in this advanced city. However, this assumption is completely incorrect! According to the new laws of the United Arab Emirates, fortunately, foreign citizens are permitted to buy and sell apartments in this beautiful and populous city.

The only small restriction for these individuals is that foreigners are only allowed to purchase apartments in designated freehold areas of the UAE, such as various areas within the city of Dubai, which is the economic capital of the country.

Buying a cheap apartment in Dubai

Statistics published in 2023 by Knight Frank (an international real estate agency and one of the largest property consulting centers in London and the world) show that the high quality of residential units in this city, coupled with their affordable prices, has made buying them popular among both ordinary individuals and investors. Additionally, the report indicates that despite the high value of real estate, the costs you incur for purchasing an apartment are even lower than the prices of properties in Tehran and other major international cities. You can own a cheap apartment in Dubai with a minimum cost of 400,000 AED.

To find out the price of buying a house in Dubai in Iranian Toman, simply convert the cost from AED to Iranian Rial or Toman using a simple multiplication. Additionally, the price of a two-bedroom apartment is approximately 800,000 AED, and the average price per square meter of an apartment in Dubai is about 800 to 1,200 AED.

Advantages and Disadvantages of Buying an Apartment in Dubai

A comprehensive article on pros and cons of buying a property in Dubai is available on Newway. However, it is important to review the pros and cons of buying an apartment in this city before making your final decision so you can make a more informed and decisive choice.

Advantages of Buying an Apartment

Purchasing apartments in one of the most popular cities in the world offers numerous advantages, some of the most important of which are discussed below.

1- UAE's Tax-Free Investment System

One of the intriguing facts you should know about the United Arab Emirates is its tax-free investment system! With this option, you can easily live in this developed and attractive city without needing to pay taxes and become wealthier each day. This system is often described as investor-friendly!

2- Paying for an Apartment in Installments with Long-Term Repayment

Purchasing an apartment in Dubai with flexible installment payments has significantly boosted the real estate industry in the region. It’s worth noting that in the 2000s, due to financial crises affecting countries worldwide, the UAE was also impacted. The real estate market in the country faced problems and challenges for three consecutive years. The strength in overcoming this issue was the UAE leaders' appropriate ideology, which allowed them to improve their situation through gradual and continuous planning, leading to their current high position in the world.

One of the positive developments in the country's real estate industry was the implementation of flexible and suitable payment plans for investors and those interested in investing in this city. This allowed applicants to easily purchase their desired apartments in Dubai through installment payments.

3- Excellent Amenities and Facilities

Most successful apartments in this city, including the cheapest houses in Dubai, come with amenities such as terraces, balconies, laundry rooms, storage, and parking. Additionally, around each building, there are good facilities such as playgrounds for children of various ages, sports halls and courts, swimming pools, tennis and squash courts, walking paths, and rooftop gardens, all designed to enhance the comfort of residents.

Many apartment units feature beautiful designs, and the clubs within these complexes are fully equipped with excellent hygiene standards. Additionally, there are single-level, duplex, and triplex apartments with well-planned spaces and ideal amenities. Some of these units are furnished with high-quality and reputable brands. The good news is that all these benefits are also available in affordable and cost-effective apartments in Dubai.

4- Opportunity to Earn in Dollars

After purchasing your desired apartment in one of the most advanced cities in the world, you may start your own business in this city and achieve a good dollar income if you meet the necessary conditions!

It is noteworthy that many people aim to achieve high dollar earnings by starting activities and work, leading them to purchase apartments in this city. Please note that this idea requires careful planning and consultation with experts in the field. Therefore, thorough research is essential before making a decision.

Other Benefits of Buying an Apartment in Dubai

• Low living expenses
• Low crime rate in Dubai
• High economic growth and low inflation
• Income from renting out the purchased apartment
• Right to open a bank account after purchase
• Proximity of Dubai to Iran
• Well-equipped transportation system
• Possibility of obtaining temporary residency in the UAE

Disadvantages of Buying an Apartment in Dubai

Along with all the mentioned advantages, this process, like any other investment, also has its drawbacks. The following are some of these considerations:

1- No Permanent Residency with Apartment Purchase

One of the drawbacks of living and migrating to this successful region in the Middle East is the lack of permanent residency, which fortunately is addressed by the availability of temporary residency permits in the UAE. "Buying an apartment in Dubai" is one of the ways to obtain a temporary residency permit, with the possibility of renewal, for you and your family in this city.

2- High Healthcare and Insurance Costs

The United Arab Emirates is one of the leading countries in equipping healthcare infrastructure with the latest global facilities. While insurance and healthcare costs for citizens are often free or very low, expatriates must cover these expenses out of pocket. This is one of the disadvantages of buying property in Dubai, but fortunately, health insurance solutions are available to address this issue for covered individuals.

Steps to Buy an Apartment in Dubai

Fortunately, buying an apartment in the UAE involves a straightforward process, making it a great investment option. To understand the steps involved, you should first consult with an experienced and reputable real estate agent who can provide you with all the necessary information.

Buying an Apartment from New Way Real Estate

New Way Real Estate has been operating in the Dubai apartment buying and selling market since 2006. Ensuring high quality and suitable amenities in apartments in this city is a key priority for New Way. Regardless of your budget and preferences, you can be confident that we will find apartments that match your needs and personality.

Frequently Asked Questions

Summary of buying an apartment in Dubai

In this article from New Way, we have covered all the essential aspects of buying an apartment in Dubai. We learned that Dubai, with its thriving real estate industry, has developed well-equipped and high-quality apartments. When investing with a sound economic perspective, it offers substantial benefits to investors.

We hope these insights have been valuable to you, and that with the provided information, you can make a well-informed decision. If you need further guidance, feel free to contact our real estate consultants through the available communication channels at New Way. We are here to answer your questions promptly.