Also known as United Arab Emirates (UAE). Dubai is one of the seven emirates that make up the United Arab Emirates (UAE) on the Persian Gulf. After Abu Dhabi Dubai is the second largest Emirate. Dubai differentiates itself from the other Emirates as majority of its revenue comes from tourism. Dubai has quickly established itself as a major travel and tourism hub for the Middle East with massive development focus on real estate projects and land development projects.

While the culture of Dubai stems predominantly from Islamic traditions, it still welcomes and supports a large expatriate community who are free to exercise their own religion. Catering for tourism, and with such a big expat community, English is generally spoken even though the official language is Arabic.

The population of Dubai has increased significantly over the course of the last few years, geographical positioning along with mind blowing beaches, buildings and attractions make Dubai one of the most sought after destinations in the world. It often comes as a surprise to people to find that roughly 80% of Dubai's population is made up by expatriates. The UAE population is expected to grow by 3.3% a year.  

Boasting a sub-tropical climate with near enough perfect hot weather for at least six months of the year make Dubai a hot spot among foreigners in more ways than one. Temperatures can vary dramatically in summer months with ranges often topping out around as much as 48 degrees Celsius. 



Abu Dhabi

Abu Dhabi is the capital city of the United Arab Emirates and the second most populous, after Dubai. With a land surface area of 67,340 square kilometers it makes up approximately 80 % of the UAE. Only 30 % of the Emirate is inhabited with the remaining areas being covered by expansive deserts and arid land. Abu Dhabi is one of the largest producers of oil in the world and it is the wealthiest of all the emirates. The majority of the city of Abu Dhabi is located on a T-shaped island bordering the Kingdom of Saudi Arabia, the Sultanate of Oman, Dubai and the Persian Gulf. Sunny blue skies are experienced throughout the year with the hottest months being from April to September where temperatures generally exceed 40 degrees Celsius.  

Abu Dhabi city is a modern city and its streets are lined by tall office and apartment buildings and busy shopping complexes. An emphasis on irrigation over the past decade has resulted in numerous parks and gardens springing up in the city and about 1 % of the land area is now used for agriculture. The region is serviced by the Abu Dhabi International Airport and the majority of its inhabitants are expatriate workers from India, Pakistan, Ethiopia, Bangladesh, Sri Lanka and the United Kingdom.

Visa and Residency:

Residence visas are issued to property owners and extend to their immediate families. These visas are renewable every three years during ownership. Visas acquired through property purchases are subject to the normal rules and regulations of the Dubai Immigration Department. The cost of renewing a visa is around $ 1,360 Dollars.

The buying Process:

Majority of properties bought in Dubai are bought off plan or before completion, the nature of buying off plan usually requires stage payments at various completion dates or stages.

Most developers will require a holding deposit to take the property off the market and then between 10 and 15 percent of the purchase price as the initial deposit. It is important to remember that the holding deposit is non refundable and will not be returned to you if you decide not to buy.

Once the property has been secured, the developer will outline all of the stage payments and stage payment dates and then it will be up to the buyer to ensure that payments are made on time as and when they required.

Legal Issues to Consider:

Fees and Taxes

One of the biggest attractions to the property investment market is the no Capital Gains taxation in Dubai.

With virtually no property-related taxes in Dubai, transaction costs are relatively low. With majority of transactions there is only the 2% registration fee and the estate agent's commission which can range from 1%-5%.

Financing a property purchase:

Financing an overseas property purchase is easy when you deal with professionals...

If you are thinking about buying an overseas property, then you also need to be thinking about the best way to finance your purchase. At Sublime Location we work closely with a number of specialised lenders who have all been carefully selected based on trust, experience and reputation.

Selecting the right product and making the right decision when it comes to financing a large investment could save thousands.

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Investment Potential:

Investment potential in Dubai has remained strong for the last few years; average return on investments can reach up to 10 percent on smaller apartments and between 6 & 7 percent on larger apartments. The average price is around 4,000 US Dollars a square metre however will depend on where you buy of course.

Gulf Cooperation Council Nationals are free to buy freehold property with freehold ownership anywhere in the United Arab Emirates whereas foreign nationals can only buy freehold properties in designated areas. Don't be put off by this though as some of Dubai's designated areas include unique and exclusive developments like The Palm, Jumeirah, Emaar Towers, The Greens, International City, and others.