Buying a luxury property in Dubai in 3 simple steps
Investing in property can be one of the best decisions you make – or the costliest. Whether you’re buying it as your private residence or transforming it into a profitable rental unit, many factors should be considered before making the purchase. It is absolutely critical to take the time to plan and research the market so you can make an informed decision in the end.
The real estate market is a rewarding investment class, especially now that the industry is gearing for more growth. A property is especially valuable for building a diverse portfolio – one of the keys to wealth building – when you approach it with a long-term perspective. In the UAE today, the most attractive types of properties yielding the best returns include luxury units, high-rises, fashion condominiums, villas, branded apartments and developments designed for retail and commercial use.
With all these impressive choices available, how do you know which one is the right one for you? Here are some key considerations to keep top of mind:
#1: Deal only with a trusted developer with a stellar track record
Your choice of real estate developer can be the single most impactful factor that will determine the success (or failure) of your decision. When you’re looking into premium properties, go straight to a real estate company in the UAE that has a proven vision for luxury living, superior taste in building materials and a commitment to partnering with the finest employees, designers, architects and contractors. After all, luxury means no compromises. For example, DAMAC Properties offers investors world-class luxury projects such as DAMAC Prive. You can own a apartment set on the bustling promenade of Dubai Canal waterfront in Dubai’s prestigious Burj area and pay 70% upon completion.
[Related: Luxury living in Dubai]
#2: Zoom into the details
When you’re a high-end buyer, it’s expected that the features and amenities will be above standard. Does it have built-in laundry facilities or will cleaning and laundry services be provided? Is the gym within walking distance, or can you do yoga in a private, sunlit lounge? Is the closet space big enough? Part of the price you’re paying is to afford you a luxurious life so make sure to check all the details ensuring your daily comfort and productivity.
#3: Look beyond the address
They say location is important – more so when you’re interested in luxury living. In this case, you don’t settle for a property merely because it’s in a prime location. Remember that when buying a luxury home, you’re also buying into a lifestyle. So beyond the zip code, look into other elements of the location, such as who your neighbors are, what type of future developments are planned for the area and what the overall culture, vibe and scene in the district is like.
DAMAC Privé is a lifestyle choice, offering the service standards of a luxury living when you’re in residence. All in one of the city’s most dynamic neighborhoods with panoramic views of the water. Own a residential apartment in Dubai's prestigious Burj area set on Dubai Canal waterfront from AED 1,063,000. Pay 70% upon completion and earn great returns.*