العربية
Owning a property in Dubai is one of the options resorted to.
by those seeking housing in the United Arab Emirates.
The second option is to rent a property in Dubai.
and both options are differentiated in terms of several factors.
especially financial capabilities.
Factors for choosing between owning or renting a property in Dubai:
- There are several criteria and factors for choosing between.
- owning a property in Dubai or renting:
1-Costs:
- There are vast differences between what will be paid when.
- owning a property in Dubai or when renting it.
- It starts with the value of the property. It is known that.
- the price of purchasing a property in Dubai starts.
- from 100 thousand dollars and sometimes exceeds 8 million dollars.
- As for renting a property in Dubai, its monthly value starts.
- from $800 up to $10,000.
- The large variation is due to several factors, including location.
- quality, type of building, services, view, and others.
Owning a property in Dubai
2-Fees:
- The fees that must be paid are divided between owning.
- a property in Dubai or renting a property in Dubai.
First: Fees for owning a property in Dubai:
- The sales value is 2% of the property value.
- The fee for issuing the ownership certificate is 250 dirhams.
- A land map for lands not subject to the authority.
- of Dubai Municipality: 100 dirhams.
- Land map. The unified map fee with Dubai Municipality.
- is 225 dirhams.
- Fee for villa or apartment is 250 dirhams.
- An innovation fee for each drawing is 10 dirhams.
- A knowledge fee for each drawing is 10 dirhams.
Second: Fees for renting a property in Dubai:
- Register a lease contract via the Dubai Rest application or.
- the Dubai Land Department website according to the following:
- 100 dirhams for registering lease contracts.
- Knowledge fee: 10 dirhams.
- Innovation fee: 10 dirhams.
- The percentage of the security deposit is between.
- 5-10% of the annual rental value.
- Dubai Municipality housing fees are 5% of the total value.
- of the annual rent.
3-Partner service fees:
- If the sale value of the property is equal to or more than.
- 500,000 UAE dirhams, the fees amount to 4,000 dirhams.
- In addition to the value added tax on service partners.
- If the value of the sale is less than 500 thousand dirhams.
- the fees amount to 2000 dirhams.
- In addition to value added tax.
4-Security and stability or flexibility and change:
- Another thing that makes the difference between owning.
- a property in Dubai or renting it is the factors of safety or flexibility.
- Renting a contract in Dubai guarantees you greater flexibility.
- In the event that you are forced to change your place of.
- residence due to a new job.
- Or the desire to get a better place to live.
- Renting is also a suitable option for individuals.
- residing in Dubai for only a few months.
- Owning a property in Dubai creates a greater sense of security.
- and stability than renting.
- With the availability of other options besides housing
- such as real estate investment, a person cannot.
- invest in a property that he does not already own.
- Thus achieving profitable financial returns resulting from
- real estate investment in Dubai.
- It is also possible to own a property in Dubai that.
- is ready or under construction.
5-Down payment and insurance fees:
- When you buy a property in Dubai in installments.
- you are obligated to pay what is known as the “down payment.”
- The remaining price is in the form of monthly.
- installments for several years agreed upon in the purchase contract.
- When renting, in addition to the monthly rental values.
- There are costs called “insurance fees” that vary according.
- to the location, quality, area and style of the property.
- It is refunded after the end of the rental period and the desire.
- not to renew, provided that the property is delivered in.
- the same condition in which it was first received.
6-Financial capacity:
- People with good budgets often choose to own a property.
- in Dubai instead of renting it.
- Dubai real estate values vary, of course, depending on location.
- quality of construction, services, area, view, etc.
- As for those who face financial difficulties and do not have.
- sufficient budget to own a property, they turn their.
- attention to renting.
- It is necessary to take into account that both.
- options require fees such as those mentioned above.
7- Property maintenance:
- When you are the buyer and owner of the property.
- any problems related to the general maintenance of.
- the property are your responsibility.
- If you are renting a property, you do not bear maintenance.
- expenses resulting from misuse, and they are borne.
- entirely by the property owner.
8-The reason for choosing the property:
- The reason for choosing the property plays a role.
- in your choice between owning or renting.
- If the reason is housing, you can rent instead of buying.
- if you do not have the financial ability to do so.
- If the reason is real estate investment, then your options.
- will go exclusively towards real estate ownership.
Which is better, owning a property in Dubai or renting it?
- According to real estate experts at.
- the Golden Group for Real Estate Investment.
- The option of owning the property comes to the fore.
- for the reasons mentioned above.
- In addition to other factors, such as registering ownership of.
- the property in your name as the sole disposer of it before.
- the Emirates of Dubai.
- As well as eliminating the burden of insurance and rental.
- fees every time and having to increase annual rental values.
- Having to leave the property when renting it if.
- the owner requests this because he wants to live there.
- Or one of his first-degree relatives.
- Or the owner’s desire to renovate the property.
- Therefore, Golden Group’s real estate experts advise activating.
- the purchase option instead of renting if there is sufficient.
- budget for that.
