A Step-by-Step Beginner’s Guide To Buying Property in Dubai
Tuesday, 07 November 2023
No property tax, 25th rank in the world’s top luxury real estate market, direct access to residential visa through property purchase and so much more!
The real estate market of the Emirate can give you hundreds of reasons to consider buying a property in Dubai. Goes without saying, that the property market trajectory of UAE is set towards exponential growth in the upcoming years. According to Mordor Intelligence, experts predict an impressive 8% CAGR for the UAE property market in 2022-2027.
Here is the beginners guide to invest in Dubai Property
The Question Still Remains – Why Dubai?
Dubai offers you a range of options to choose from. Whether you’re a bachelor or a happily married person with a family, the Emirate has a property for you. Interestingly, off-plan properties in Dubai are the most in demand. Combine this with the innovation in the region and futuristic vision for infrastructure, you will find a goldmine for buying property in Dubai as a beginner. So, if you want to ride this tide and get hold of a property in Dubai, you must do your due diligence.
Don’t know where to start? Let’s find out!
Step 1: Narrow Down on Location
Will it be Dubai Harbour, Business Bay, or Jumeirah Village Circle?
Where you want your property has to be decided before going out on a real estate hunt. Location is an important factor in Dubai and each region adds unique attributes to your property. For instance, Jumeirah Village Circle properties offers quick commute options, brilliant public utilities, lush green ambiance, and affordable houses.
Step 2: Figure Out the Type of Ownership
Everyone is eligible to buy a property in Dubai. But it comes with a little caveat!
Depending on your citizenship, there are three methods of property ownership available in Dubai. These include freehold, leasehold, and commonhold. The rules governing each type of property vary for locals as well as expatriates.
- Freehold properties in Dubai give buyers full ownership rights, no matter where they’re from. It means that you own it completely, including the land it is on. This is good news for expats and foreigners because they can also buy these properties, not just UAE citizens. It’s a great choice for you if you want to generate high returns by buying a property in Dubai.
- A leasehold or usufruct property in Dubai is when someone else, like the government or a company, owns the property, but you can use it for a specific time, commonly ranging from 30 to 99 years, with ownership going back to the original landowner once the lease term concludes, and they are usually located in government-designated areas. Usually, it’s for non-UAE nationals and is often used for business or industry.
- Commonhold property in Dubai usually means owning a freehold apartment. Unlike owning a freehold villa or townhouse where you own both the property and the land it is on, with a commonhold, you only own the apartment itself. But you still have the same rights as freehold property owners, like buying, renting, selling, or passing it on to family, and you might even get a UAE residence visa. The only difference is that you share maintenance costs for the building with other apartment owners because no one owns the land.
Step 3: Assess Your Finances
Probably, one of the most important factors for buying a property in Dubai is finances.
If you’re paying the purchase price using your savings, it’s great! The complexity arises when you go with the Mortgage route – In the UAE, citizens can borrow up to 85% of the property price if it’s below AED 5 million, and they need to pay a 15% down payment. But for properties above AED 5 million, they can only borrow 75%, so a 25% down payment is required. Expats have different rules; they can borrow up to 80% for properties below AED 5 million, meaning a 20% down payment. For properties over AED 5 million, they can only borrow 70%, so a 30% down payment is necessary.
Being thorough in your research about how you should pay for the property is crucial to save yourself from future hassles.
Step 4: Understand the Legalities and Purchase Agreement Specifics
The buyer-seller agreement in Dubai is like a rulebook for property deals. It tells you all about the property, how much it costs when to pay, and what everyone needs to do. So, before signing up to buy a property in Dubai, make sure you read it carefully. It’s like a safety net to make sure everything goes smoothly when you’re buying or selling property in the UAE.
Moreover, from No-Objection Certificates to Mortgage Registration fees, every aspect of the legal process has to be followed. If you’re not aware of them, your purchase application might be rejected by the Dubai Land Department.
Other than legal compliances, you have to take care of some expenses to submit with your application. In addition to the property’s purchase price, you’re also supposed to deposit fees as charged by the authorities. These include NOC fees, estate agent’s commission, transfer fees, mortgage registration fees (if applicable), and annual service charges.
You can either dig out the tricky details of the right buying process by searching on the Dubai Land Department’s website or consult an expert real estate property agent to execute the process seamlessly.
Is Buying a Property in Dubai Easy?
Absolutely!
Dubai is considered a real estate goldmine not only because of the property choices the Emirate has but also the convenient purchase processes. From high rental returns to buyer-friendly legal procedures, it has been a front-runner in making the real estate market a lucrative investment domain through the process of buying a property in Dubai.
The reputed developers, such as Grovy, in Dubai have listened to the buyers’ community and created an ecosystem that brings together innovation, excellence, and comfort. Only by following a few steps, you can own a piece of luxury that offers you residence as well as high resale value for the future.
So, what are you waiting for? If you’re thinking of buying a property in Dubai, grab the one for you with Grovy’s help before the prices rise.
Contact us now!
FAQs
1: Can foreigners buy property in Dubai?
Of course! Dubai welcomes buyers of all nationalities. You can own property, whether you plan to live in it, rent it out, or use it as a vacation home.
2: What’s the average timeline for buying property in Dubai?
Once the Agreement of Sale is signed, it typically takes about 30 days to complete the transaction. This timeframe is similar to property purchases in many other countries
- Published in Buying Property in Dubai
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10 Brilliant Tips to Maximize Your Space in a Studio Apartment in Dubai – Live Like a King!
Monday, 30 October 2023
Are you an individual who came to the city of dreams to live a life others envy?
But this aspiration can feel like getting cramped when you start living in a small space of a studio apartment in Dubai. If you also get this feeling, you’re not alone. Approximately 10% of the people with a USD 3-5 million net worth prefer a studio, as per the report of Knight Frank. And all of them face the same issue – How to maximize the indoor space of a studio apartment?
If you haven’t found your unique transformational tricks, hold on. These cozy living spaces offer comfort, convenience, and, with the right approach, the feeling of living like royalty. Today, you will learn all about them!
Here are the tips to transform your studio apartment in Dubai
1. Less is more
Not when it comes to more, but definitely for space and indoor home accessories you want. To live a comfortable life with space optimization, embrace minimalism by decluttering and keeping only the essentials. opt for multi-functional furniture pieces that serve more than one purpose, such as a sofa bed or a dining table that can double as a workspace.
2. Use every inch for storage
Granted, your home in Dubai will come with huge wardrobes if they’re the apartments designed by Grovy, but still, you need extra storage space. With clever storage solutions, you can use every corner of your studio. Invest in wall-mounted shelves, under-bed storage bins, and vertical organizers to keep your belongings organized and out of sight.
3. Let your Dubai studio apartment reflect luxury through mirrors
Mirrors can create the illusion of space. Install large mirrors opposite the balcony door to reflect light and make your studio apartment in Dubai look livelier and more spacious.
4. Pick furniture that takes up space only when used
That means – foldable furniture must be your choice for your studio apartment in Dubai. Furniture that can be easily folded and stored away when not in use is a game-changer for studio apartments. Look for foldable chairs, tables, and even wall-mounted desks.
5. Use vertical space in the studio apartment in Dubai
Who said space can only mean horizontal layout?
Think vertically when it comes to storage. Install tall bookshelves and cabinets that reach the ceiling to maximize your vertical space. This will draw the eye upward, creating a sense of height.
6. Choose decor that brings light in
opt for light-colored walls and décor to create a sense of airiness. You see, light colors have higher reflectivity. It means that when light falls on them, they bounce back, giving the objects around them more exposure. You can opt for bright-colored rugs and contrasting showpieces to give a sense of depth. A multi-purpose rug can be useful across different living zones within your studio apartment in Dubai.
7. Be smart in kitchen space organization
Let’s tackle kitchen organization in your cozy studio apartment in Dubai. Optimize your space with drawer dividers, pull-out pantry shelves, and magnetic spice racks. Maximize cabinet storage by adding hooks inside for pots and pans. Keep your pantry tidy with stackable containers and labeled bins. Enjoy a clutter-free, efficient kitchen!
8. Go green with vertical gardens
If you have a balcony or terrace, consider vertical gardening. This not only adds a touch of greenery to your space but also maximizes the use of your outdoor area.
With these brilliant tips, you can turn your studio apartment in Dubai into a cozy and functional living space that you have dreamt of. Embrace the Dubai lifestyle and make the most of your compact yet stylish home in this vibrant city. Whether you’re a young professional or an expatriate, living in a studio apartment can be a fantastic experience if you maximize its potential. Live like a king or queen in the heart of Dubai!
To own the best piece of luxury as a studio apartment in Jumeirah Village Circle, contact Grovy today!
FAQs
1. Are studio apartments in Dubai expensive to rent or buy?
Studio apartment costs in Dubai vary based on their location and the amenities they provide. While some areas may have higher rental rates, others can be more affordable. It’s essential to research different neighborhoods and consider your budget when choosing a studio apartment in Dubai.
2. Which area is good for buying a studio apartment in Dubai?
Depending on your budget and lifestyle preferences, you can choose from the following areas:
- Business Bay
- Jumeirah Village Circle
- Downtown
- Palm Jumeirah
- Emirates Hills
- Jumeirah Bay Island
- Published in Studio Apartment
Investing in Dubai Real Estate? Know the Pros and Cons First
Monday, 23 October 2023
Popular for its luxurious lifestyle and awe-inspiring skyscrapers, Dubai is a place where the demand for real estate never slows down. In fact, Dubai is seeing a 25% year-on-year increase in real estate transactions. Every wise investor is thinking of investing in Dubai real estate now.
If you’re one of them, take a pause. While the emirate shows its brilliance through infrastructural innovation across Dubai, there are some upsides and downsides to buying a property in Dubai.
What are those? Let’s find out!
The Pros of Investing in Dubai Real Estate
The satiable demand for real estate from locals as well as foreigners – There must be something that Dubai is carrying for luring the property investments. Here are the unique pros only the Emirate has across the globe:
1. High Rental Yields
Ever thought about getting the maximum ROI on your real estate investment in Dubai? It can come true now. Dubai offers one of the highest rental yields and ROI across the globe. In fact, depending on the location of your property, you can receive anywhere between 6.9 -9.22% ROI, including in affordable locations like JVC.
2. Tax Benefits
Dubai is a hub of foreign-friendly investments. That’s why the emirate imposes no income tax on properties, making it an attractive destination for people in need of investing in Dubai real estate. Investors can enhance their returns with tax exemptions like zero property tax, no capital gains tax, rental revenue tax, and no income tax.
3. Robust Infrastructure
Dubai’s robust infrastructure, characterized by excellent transportation networks, world-class airports, reliable utilities, modern amenities, master-planned communities, iconic landmarks, and smart city initiatives, magnifies the city’s appeal for investing in Dubai’s real estate. This well-planned and efficiently managed infrastructure built by prestigious developers like Grovy, not only ensures a high standard of living but also enhances the potential for long-term property appreciation in the emirate.
4. 10-Year Golden Visa Benefit
Just by owning a property in Dubai, any foreigner can get a 5-year golden visa to live, work or study in UAE. Isn’t that wonderful? The visa can be extended to 10 years as well as renewed on the same conditions as granted previously.
The advantages of a 10-year golden visa Does not stop at investing in Dubai’s real estate. It also offers various other benefits including getting a driver’s license in UAE if they have one in their home country without undergoing driving lessons.
5. Market Resilience and Fair Property Prices
After facing a 7-year slump, Dubai real estate bounced back with a 20% surge in prices. In fact, ever since, property prices have been rising due to the inflow of foreigners from across the globe. Thanks to substantial investments from high-net-worth individuals, Dubai’s real estate market now boasts a remarkable 17% share of global luxury property sales.
However, despite a high number of people investing in Dubai real estate, the market prices for the properties stay fair. According to Arabian Business, Dubai’s per capita GDP is five times higher than London’s, yet property prices in Dubai are six times more affordable compared to in London or Hong Kong.
The Cons of Investing in Dubai Real Estate
While there are multiple advantages to making you invest, a few concerns should also be a part of your consideration before investing in Dubai real estate. They are:
1. Legal and Regulatory Requirements
Investing in foreign real estate demands a deep grasp of local regulations and legal frameworks. Dubai’s real estate sector has evolved recently, introducing stricter rules to protect investors. While these enhance transparency and stability, they can challenge foreign investors. Before investing in Dubai, seek professional advice and stay updated on regulations.
2. Mortgage Charges and Fees
When exploring Dubai investments, consider mortgage costs. Banks charge fees like processing, valuation, and mortgage registration fees. These affect overall financing expenses and must be carefully evaluated for financial feasibility.
In conclusion, investing in Dubai real estate offers a promising opportunity for investors seeking rental income, tax benefits, and a diverse range of properties. However, it’s essential to be mindful of market dynamics, potential oversupply concerns, and government regulations. With wise decision-making and due diligence, Dubai’s real estate market can provide a rewarding investment experience.
To know more, connect with Grovy today!
FAQs
1. Is this the right time to invest in Dubai real estate?
Yes. Dubai is considered one of the safest and high-ROI destinations for real estate investment. The government has implemented measures to attract foreign investments and protect investors’ interests. Additionally, the legal framework offers recourse in case of disputes.
2. Are there restrictions on foreigners investing in Dubai real estate?
No, Dubai allows foreigners to own property in designated areas, referred to as freehold areas. They can also buy properties through leasehold ownership with limited rights.
- Published in Real Estate Developers
10 Benefits of Buying a Property in Jumeirah Village Circle
Tuesday, 17 October 2023
Nestled between Al Khalil Road and Sheikh Mohammed Zayed Road, you will find a lush green space in the heart of New Dubai. What’s it called?
Of course, you know about it. It’s none other than Jumeirah Village Circle (JVC).
If you’re thinking of buying a property in JVC, you’re in the right place. JVC is one of Dubai’s most sought-after residential communities, and it offers a lot of advantages for homebuyers. In this blog, we’ll explore the top 10 benefits of owning a home in JVC.
Discover why JVC is the place to be for property buyers!
1. Luxury That Doesn’t Break Your Bank
JVC combines luxury living with affordability. You can find a wide range of property options to fit your budget, from cozy apartments to spacious villas. Enjoy the perks of upscale living by buying a property in JVC without losing sleep over your high mortgage bills.
2. Community That Makes Families and Individuals Feel Welcomed
Whether you’re a bachelor looking for a studio or a family of five in need of 3 BHK apartments, JVC has it all. The area boasts lush parks, playgrounds, and schools, making it an ideal place to raise children. In addition, public utilities such as fitness centers, recreational units, and more make it a perfect location for individuals alike.
The best part of buying a property in JVC? Safety and a sense of belonging are part of the package.
3. Location That Lets You Access the Whole of Dubai
Located in the heart of Dubai, JVC offers easy access to major highways and key destinations. You’re never far from shopping centers, business hubs, and entertainment options. Proximity to JLT, Dubai Marina, Internet City, and Media City is one of the highlights of the location.
4. Property Choices That Will Spoil You
With more than 2000 units, JVC offers a huge range of properties, so you can find the home that suits your lifestyle. Whether you prefer modern studio apartments or spacious villas, there’s something for everyone. In addition, in high-lifestyle homes like Grovy’s, you can enjoy a unique blend of comfort, luxury, and accessibility through modern amenities and sustainable features in its apartments.
5. Investment Potential That Attracts All
Buying a property in JVC for investment is a really smart move. The area’s property values have been steadily increasing, ensuring a promising return on investment. According to Zawya, JVC has been one of the prominent locations offering exceptional rental yields of 6.90% in Dubai. It’s an excellent opportunity to build wealth.
6. Picturesque Views That Bring Serenity to Your Doorstep
Imagine waking up to stunning views of parks, lakes, and landscaped gardens. JVC’s picturesque surroundings make everyday life feel like a vacation. With options including high-rise skyscrapers, you can enjoy your sunsets and savor the breathtaking Dubai sky through your eyes by buying a property in JVC.
7. Off-Plan Projects That Make You an Owner Before the Building is Done
Imagine becoming a homeowner even before the construction cranes have started their work. It may sound like a dream, but off-plan projects in the real estate world can turn this dream into reality. These unique ventures offer buyers the chance to secure a property before it’s even built. District 10 in JVC is popular amongst real estate investors due to its affordability in off-plan projects.
8. Peaceful Environment to Take You Away from City’s Chaos
30+ landscaped parks, well-structured layout, dedicated bicycle paths and so much more – These features of the area make it so peaceful that you would love to call it home. Despite its central location, JVC maintains a serene and peaceful atmosphere. It’s an oasis of tranquility in the bustling city.
9. Pet-Friendly Area to Make Your Furry Companions Be at Ease
If you have furry friends, you’ll love JVC’s pet-friendly environment. Plenty of open spaces allow your pets to roam freely. From supply stores to pet clinics, there’s no dearth of utilities available for you to pamper your pets. So, if you want a comfortable home for ‘All’ of your family members, buying a property in JVC must be your priority.
10. Community Spirit That Elevates the Value of JVC
JVC fosters a strong sense of community. Residents often come together for social events and gatherings, creating lasting friendships. The area provides homes to various individuals from across the globe forming a strong community.
In conclusion, buying a property in JVC is an excellent choice for those seeking a comfortable, family-friendly, and affordable living environment. With its diverse property options and numerous benefits, JVC stands out as a top destination for property buyers in Dubai. Don’t miss out on the opportunity to own a piece of this thriving community – Book your unit today with Grovy!
Frequently Asked Questions
Q1: What types of properties are available in JVC?
JVC offers a wide variety of properties, including apartments, townhouses, and villas. Each property unit carries different space provisions ranging from studio apartments to 4 BHK townhouses. You can choose the type for buying a property in JVC that suits your lifestyle and preferences.
Q2: Is JVC a safe place to live?
Yes, JVC is known for its safety and security. It’s a family-friendly community with vigilant security measures in place.
Q3: Are foreigners eligible to buy property in JVC?
Absolutely! JVC welcomes property buyers from around the world in its freehold area. Foreigners can own property in JVC with full ownership rights.
- Published in Buying a Property in JVC
Why Grovy Real Estate is the Ultimate Choice for Your Dream Home
Monday, 09 October 2023
Dubai, the radiant gem of the Middle East, is where dreams become a reality. With its iconic skyline, modern luxuries, and thriving culture, Dubai has won the hearts of people worldwide. It’s natural to aspire to call this beautiful city your home. But when it comes to choosing the right real estate developer in Dubai to craft your dream home, who should you trust with this important task?
We have the answer!
If you’re considering making Dubai your home, there’s one name in real estate that stands out: Grovy Real Estate Development LLC, your ultimate choice for your dream home in this dazzling city.
Why?
Let us show you!
Grovy Real Estate is Your Trusted Partner
When it comes to choosing a real estate developer in Dubai, trust and reputation are paramount. Grovy, with its unwavering commitment to excellence and innovation, has earned its place as a trusted partner for countless homebuyers. With two decades of experience in crafting exceptional properties, Grovy has consistently delivered on its promise of creating dream homes.
Unparalleled Expertise
Grovy is not just a real estate developer; it’s a team of dedicated experts who understand the intricacies of the Dubai property market. With a deep-rooted knowledge of the local landscape, Grovy is well-equipped to guide you through the process of finding your dream home. In fact, we have been awarded with the Africa & Arabia winner of ‘Residential High Rise Development Dubai’ as part of the 2022-2023 International Property Awards.
A Legacy of Success
In 2023, Grovy boasts an impressive portfolio of successful projects. From luxurious apartments to breathtaking villas, Grovy has left an indelible mark on Dubai’s real estate scene. From elegance infused Aria to sophistication wrapped Alcove, each project is an architectural art. Our properties are not just structures; they are the embodiment of luxury, comfort, and style.
Grovy Real Estate is Setting Trends
Dubai’s real estate market is dynamic and ever evolving. With Dubai being the 4th most active luxury residential market, a real estate developer in Dubai must not only meet current trends but also set new ones to thrive. That’s what we offer – Grovy Real Estate has consistently pushed the boundaries of innovation, setting new standards for luxury living.
Innovative Designs
In 2023, Grovy Real Estate Developer in Dubai is leading the way with innovative architectural designs that redefine modern living. With the creation of boutique apartments, Grovy is redefining luxury and comfort. Our properties are not just places to live; they are expressions of art and sophistication.
Sustainable Living
As the world places a greater emphasis on sustainability, Grovy is ahead of the curve. Our commitment to eco-friendly practices and green building initiatives ensures that your dream home is not just beautiful but also environmentally responsible.
Grovy Real Estate: Variety and Choice
No two dream homes are alike, and Grovy Real Estate Developer in Dubai understands this better than anyone. Our diverse portfolio offers an array of options to suit your unique preferences and lifestyle.
Luxurious Apartments
For those who crave the city life, Grovy’s luxurious apartments in the heart of Jumeirah Village Circle are the perfect choice. With stunning views and top-notch amenities, these apartments are designed for urban living at its finest. From studios to 3 BHK variants, with Grovy Real Estate Developer in Dubai, you can choose any as per your need and affordability.
Breathtaking Villas
If you prefer a more serene and private setting, Grovy’s breathtaking villas are the epitome of luxury. These spacious and elegantly designed homes offer the tranquility and comfort you deserve.
Sophisticated Townhouses
For those seeking a blend of urban convenience and suburban charm, Grovy’s townhouses provide an ideal choice. These homes offer a perfect balance between city living and peaceful retreats, giving you the best of both worlds.
Grovy is Built on Uncompromising Quality
At Grovy, we understand that your dream home should be a sanctuary of the highest craftsmanship. We leave no stone unturned in ensuring that every detail of your home meets the most exacting standards.
Attention to Detail
In 2023, we continue to be impressed by our strong commitment to detail. From the choice of high-quality ceramic tiles to the meticulous detailing of the interiors, every aspect of our properties exudes excellence.
Exceptional Amenities
Your dream home is more than just the four walls; it’s a reflection of your lifestyle. That’s why our properties are equipped with exceptional amenities, including state-of-the-art fitness centers, temp-controlled swimming pools, lush green spaces,and whatnot. If your comfortable urban living demands it, we have it.
Grovy Believes in Customer-Centric Approach
With Grovy Real Estate Developer in Dubai, you always come first. Our customer-centric approach ensures that your journey to finding your dream home is smooth and stress-free.
Personalized Guidance
The Grovy team understands that buying a home is a significant decision. They provide personalized guidance, helping you navigate the complexities of the Dubai real estate market.
Transparent Transactions
Transparency is a cornerstone of Grovy Real Estate’s operations. You can trust that every transaction is conducted with the utmost integrity and openness.
Grovy is Your Path to Luxurious Dubai Living
Dubai is more than just a city; it’s an experience. And Grovy Real Estate is your key to unlocking that experience. With a proven track record, innovative designs, a wide range of choices, and unwavering quality, Grovy Real Estate Developer in Dubai is the ultimate choice for your dream home.
As Dubai’s real estate market continues to flourish, Grovy Real Estate Developer remains at the forefront, setting new standards and redefining luxury living.
Frequently Asked Questions
Q1: How do I get started with Grovy Real Estate Developer in Dubai in finding my dream home?
Getting started with Grovy Real Estate is as easy as reaching out to their dedicated team. You can contact them through their website or visit one of their offices. Their experts will guide you through the process and help you find the perfect home that suits your preferences and budget.
Q2: What sets Grovy apart from other developers in Dubai?
Grovy Real Estate’s unparalleled expertise, commitment to innovation, diverse portfolio, uncompromising quality, and customer-centric approach set them apart. They not only meet the latest trends in real estate but also create new ones, ensuring that your dream home is a masterpiece of luxury and comfort.
- Published in Real Estate Developers
Unlocking Real Estate Dubai: 10 Secrets to Find Property in Dubai Successfully
Monday, 02 October 2023
Dubai’s vibrant skyline, luxurious lifestyle, ever-evolving infrastructure, and tax-free environment make it the most sought-after destination for property investment. In fact, according to Zawya, Dubai has seen one of the highest YoY growth ever in property transactions. While estimating the valuation of transactions, the data found an impressive rise of 34.1% as compared to the same time last year, totaling AED 30.41 billion.
As you can see, the property market in Dubai is booming, and there are great deals to be found. But with so many options available, it can be tough to know where to start. That’s where we come in.
We’ll help you find a property in Dubai, perfect for your needs and budget.
To begin, you must figure out:
1. What are your reasons for finding a property in Dubai?
Before you start browsing the Dubai property market, it’s important to know what you’re looking for. Are you buying a home to live in? An investment property? A vacation home? Once you know your goals, you can start narrowing down your options.
Pro tip: Do some research on the different neighborhoods in Dubai to find one that’s a good fit for your lifestyle and investment goals. For example, if you’re looking for a family-friendly neighborhood, you might want to consider living in Jumeirah Beach Residences. If you’re looking for an investment property, you might want to consider investing in a property in Downtown Dubai.
2. What is your budget?
Dubai offers properties in a wide range of price brackets. According to reports, the average cost of a studio apartment in Dubai can range from AED 475,000 – 775,000. Set a budget before you start looking at properties. This will help you avoid wasting time on properties that are out of your price range. Consider all of the costs associated with owning a property, including the purchase price, mortgage payments, maintenance fees, property taxes, and utilities.
Pro tip: Use an online mortgage calculator to estimate your monthly payments and make sure you can afford the property you’re considering.
3. Where can you find property in Dubai online?
The digital age has made it easier than ever to find property in Dubai. Online property portals and real estate apps allow you to search for properties quickly and easily, and filter results based on your criteria.
Some of the most popular online property portals in Dubai include:
- Bayut
- Property Finder
- Dubizzle
- Zameen
These portals offer a wide variety of properties for sale or rent, including apartments, villas, townhouses, and commercial properties. You can also find properties in Dubai that are still under construction.
To get started, create an account on one or more of these portals and start your search. You can filter results by location, price, number of bedrooms and bathrooms, and other criteria. Once you’ve found a few properties that you’re interested in, contact the agent or owner to schedule a viewing.
Pro Tip: Sign up for email alerts on these platforms to receive notifications about new listings that match your preferences.
4. Have you searched for a property through a reputable real estate developer in Dubai?
Working with a reputable real estate developer in Dubai like Grovy can take away your troubles by more than 50%. How? Developers have the knowledge, experience, and resources to help you navigate the complex Dubai real estate market. They can help you find properties in Dubai that meet your needs and budget to get you the best possible deal.
Pro tip: When choosing a developer, be sure to research their track record and read client reviews. You want to make sure you’re working with a developer who is knowledgeable, experienced, and trustworthy.
5. Have you wondered about attending property expos and auctions?
If you haven’t, please do. Attending property expos and auctions can be a great way to find a good deal on a property in Dubai. These events provide a unique opportunity to explore multiple properties in one place and often offer exclusive deals. There are several property expos and auctions held in Dubai throughout the year. The most popular property expos are the Dubai Property Show, the United Property Expo, and Cityscape Global. These expos typically feature a wide variety of properties, from apartments and villas to commercial properties.
Pro Tip: Keep an eye on the Dubai Land Department’s website for updates on upcoming property auctions.
6. Are you legally authorized to make a property transaction?
Ensure that you’re aware of all legal requirements for property transactions in Dubai. This includes understanding visa regulations, property registration, and any additional fees involved.
Pro Tip: Seek legal advice or consult with property experts to navigate Dubai’s real estate laws effectively.
7. What is the condition of the shortlisted property?
Once you’ve narrowed down the best properties in Dubai, don’t skip the physical inspection. Walk through the property to assess its condition, amenities, and overall suitability.
Pro Tip: Bring a checklist of your must-have features to ensure the property meets your requirements.
8. Are there any future developments scheduled in your property location?
Dubai is known for its ever-evolving landscape, so it’s important to research upcoming developments in the area where you bought your property. These developments can significantly impact property values.
For example, a study by the real estate consultancy CBRE found that properties located near the Dubai Metro stations appreciated by an average of 77%.
9. What do you think of negotiations?
Don’t be afraid to negotiate the price. Dubai’s real estate market is known for its flexibility in negotiations. Engage in fair but assertive discussions with sellers to secure the best deal.
Pro Tip: Understand market trends and comparable property prices to strengthen your negotiation position.
10. Have you considered securing your property investment?
After finding your dream property, work with legal experts to finalize the purchase. Ensure all necessary documents are in order and that the transaction adheres to Dubai’s property laws.
Pro Tip: Consider hiring a property management company to handle leasing and maintenance if you’re buying for investment purposes.
Takeaway
If you know what you’re looking for, it’ll be very easy and thrilling to find property in Dubai! With the right approach, you can find your dream property in this vibrant city. Follow these tips and stay informed about the market, and you’ll be well on your way to success.
For everything else, you can reach out to us!
Happy hunting!
Frequently Asked Questions (FAQs)
Q1: Is it possible for expatriates to buy property in Dubai?
Yes, expatriates can buy property in Dubai. There are various freehold areas where foreigners can own property outright.
Q2: Are there any taxes on property ownership in Dubai?
Dubai does not levy property taxes on rental income or capital gains. However, there are other fees associated with property transactions, such as registration fees and service charges.
- Published in Dubai Properties
Live the Extraordinary in Grovy’s High-Life Dubai Apartments
Monday, 25 September 2023
Dubai is a city that is known for its luxury and its diversity. People from all over the world come to Dubai to live, work, and play. And if you’re looking for a place that reflects the city’s vibrant culture, Dubai apartments are the perfect option. According to the National News, Dubai ranks 4th in the world’s most active luxury residential market.
But where will you find the best of the best?
At Grovy!
Here at Grovy, we believe that luxury living should be synonymous with cutting-edge design and innovative technology. That’s why we’re always pushing the boundaries of what’s possible, creating homes that are truly one-of-a-kind reflecting sophistication, groundbreaking innovation, and unparalleled luxury.
We’re not just building apartments. We’re creating landmarks.
What are the high-life projects we have for you?
Let’s find out!
1. Aura
Aura by Grovy Real Estate Development LLC offers a luxurious lifestyle that is second to none. From the moment you step into your new Dubai apartment, you will be surrounded by opulence and sophistication.
The project has been designed to offer a perfect balance between peace and the hustle and bustle of city life. It offers a wide range of amenities:
- Thoughtfully planned and fully optimized indoor spaces
- Temperature-controlled swimming pool for your comfort and relaxation
- Jogging track and multi-sport court for active living
- Fully equipped gym to support your fitness
- Steam and sauna facilities for relaxation and well-being
- Dubai apartments with captivating skyline views
- Smart home automation for modern convenience
- 24/7 security surveillance for your peace of mind
That’s not all. There is also a dedicated children’s play area, and the project has been designed to follow Vaastu and Feng Shui principles, ensuring harmony throughout.
Located in the Jumeirah Village Circle, Dubai, Aura is the perfect place to experience the city’s vibrant street life, exciting nightlife, and fusion of tradition and innovation. This project offers residents the perfect blend of luxury, comfort, and accessibility.
2. Aria
Introducing Aria by Grovy, a harmonious blend of comfort and style in the heart of Dubai. Aria, meaning “An Expressive Melody,” reflects the dynamic spirit of this city. These Dubai apartments redefine luxury living with a strategic location just minutes from parks, shopping malls, and major attractions.
The following features of these Dubai apartments make them the epitome of high-life spaces in the city:
- Aria’s strategic location in Jumeirah Village Circle offers easy access to Dubai’s landmarks
- Enjoy upscale amenities like a temperature-controlled pool and a fully equipped gym
- Experience modern living with smart home automation and well-designed interiors
- Embrace luxe living with high-quality fittings, full-height mirrors, built-in wardrobes and more
- 24/7 security ensures your safety and stunning Dubai skyline views are a daily delight
- Sustainability is a focus with green building initiatives, Electronic Vehicle Charging Stations, and energy-efficient lighting
- Choose from efficient layouts including 1 BHK, 2 BHK, and studios amongst 125 units
- Relax on the rooftop jogging track with panoramic city views
- Private balconies, integrated appliances, and ample natural light enhance your living experience
- Sophisticated recreational amenities cater to all your moods and preferences
This is how we define a high life which takes care of your convenience in the most luxurious way.
For Aria, like every Grovy construction, our team of experts, including architects, designers, and contractors, followed a thorough project development process. We focused on selecting great locations and using the best materials and designs to create exceptional living spaces. This ensured a seamless and top-quality living experience for our residents.
3. Alcove
Discover Alcove by Grovy, a collection of luxury apartments designed to fulfill the dreams of those seeking opulent living in Dubai. With spacious layouts and a plethora of world-class amenities, Alcove offers the perfect blend of leisure and connectivity for those looking to indulge in the epitome of luxury living.
Want proof? Here are the features that only Alcove from Grovy has:
- Well-built and beautifully designed
- Surrounded by greenery and a calming atmosphere
- Spacious and stylish interiors with personalized touches
- Rooftop pool, gym, jacuzzi, spa, and more
- Staff dedicated to providing comfort and convenience
- Ensuite bathrooms, spacious wardrobes, and parking spaces
- Conveniently located near major roads, facilities, and attractions
- Built to be environmentally friendly
All in all, Grovy stands out as a leading real estate developer in Dubai, renowned for its expertise in crafting luxurious apartments that embrace the city’s high-life culture. Our three outstanding projects – Aura, Aria, and Alcove, offer Dubai apartments that are truly exceptional.
These apartments are carefully designed to offer a perfect balance between peace and vibrant city life. With a track record of over 25 years and a commitment to redefining the high-life lifestyle, we continue to be the preferred choice for those seeking opulent living spaces in this dynamic city.
Invest in a Dubai apartment from Grovy today, and experience the epitome of Dubai’s luxury real estate. Contact us now to begin your journey towards owning your dream Dubai apartment.
Frequently Asked Questions
1: How can I buy a Dubai apartment that Grovy builds?
Buying a Dubai apartment from Grovy Develops is easy. Simply visit our website, explore our projects, and get in touch with our sales team. We’ll guide you through the entire process, from choosing the right property to securing financing.
2: Are Grovy’s Dubai apartments suitable for investment purposes?
Absolutely! Grovy’s apartments are not only luxurious but also great investments. Dubai’s real estate market is known for its strong rental yields and potential for capital appreciation. Our properties offer both a high-quality lifestyle and a promising return on investment.
- Published in Dubai Apartments
Why Property Developers in Dubai Are in High Demand: Exploring the Booming Real Estate Market
Thursday, 21 September 2023
Dubai, the “City of Gold,” is now a goldmine for real estate investors. It is turning into a magnet for real estate investments and leading to a surge in demand for property developers in Dubai.
The strong and diversified economy is an important factor attracting investments across the globe. In the first quarter of 2023, Dubai showed an excellent growth rate of 43% in property transactions as reported by Property Finder. Besides, an AI-executed analysis has predicted 15% growth in the Dubai market, establishing its impressive future trajectory in the global real estate market in the next two years.
Also, the economic prosperity makes Dubai a safe and lucrative destination for property developers and investors alike. The city’s ability to weather global economic uncertainties has further solidified its status as a real estate haven.
But that’s not all. These are the other important reasons that are causing a rise in demand for real estate developers in Dubai.
Population Surge and Housing Needs Impact on Property Developers
Dubai’s skyline is constantly changing, and this transformation is in direct response to its ever-growing population. With an estimated year-to-date population growth rate of 1.43%, reaching 3.6 million, the demand for housing, commercial spaces, and retail outlets is consistently on the rise. This demographic surge fuels the need for innovative real estate solutions.
Property developers in Dubai such as Grovy are instrumental in addressing these housing needs by creating contemporary, well-planned communities that cater to a diverse and growing population.
A Favorable Investment Climate: Attracting Global Investors
Dubai’s reputation as an investment-friendly destination has garnered international attention. The city’s low taxes, transparent legal system, and regulatory environment that encourages foreign investments make it an ideal choice for global investors. In addition, the launch of the investment-friendly initiative ‘Dubai Global’ has further boosted the real estate investment in Dubai.
Foreign investors have played a significant role in Dubai’s real estate market, leading to the greatest sale transaction in 2022, as stated by Property Finder. Besides, 10-year Golden Visa and Business Entry Visa have made Dubai real estate more appealing. This high level of foreign investment underscores the confidence that the global community has in Dubai’s real estate sector.
World-Class Infrastructure: The Foundation of Dubai’s Appeal
Dubai’s rise to prominence would not be possible without its world-class infrastructure. The city boasts modern transportation networks, state-of-the-art communications systems, and efficient utilities created by expert property developers in Dubai. This solid infrastructure creates an attractive and sustainable living environment, drawing residents and businesses from around the world.
The presence of modern amenities and a well-connected city layout make Dubai a desirable place to live, work, and invest.
A Vibrant Lifestyle: Dubai’s Unique Allure
Dubai isn’t just a place to live; it’s a destination for a vibrant lifestyle. The city offers a diverse blend of cultural attractions, world-renowned shopping districts, and a thriving dining scene. This unique blend of experiences makes Dubai an attractive option for both tourists and residents alike.
Key Real Estate Statistics
To put the magnitude of the emirate’s real estate market into perspective for the increase in the demand for property developers in Dubai, consider the following statistics:
- Real Estate Dominance in GDP: Dubai’s economy contributed 27% of the UAE’s GDP in 2022, making it the largest contributor to the country’s economy. Real estate activities were a major driver of this growth, contributing 9.1% of Dubai’s GDP in 2022, up from 7.8% in 2021.
- Total Transaction Value: The Dubai Land Department reported that the total value of property transactions in Dubai in 2022 reached AED 265.51 billion, an increase of 78.1% compared to 2021.
- Average Property Price: According to the latest Dubai Residential Market Snapshot report by property consultancy CBRE, average apartment prices in Dubai rose by 14.5% to AED 1,256 (USD 342) per square foot in the year to April 2023. Villa prices also increased by 14.9% to AED 1,484 (USD 423) per square foot during the same period. It reflects the city’s diverse range of real estate options catering to various budgets and eventually leading to a surge in the need for property developers in Dubai.
- Preferred Investment Areas: Jumeirah Village Circle, Dubai Marina, and Business Bay emerged as the most sought-after areas for property investment, thanks to their strategic locations and lifestyle offerings.
In conclusion
Property developers in Dubai are in high demand due to a confluence of factors, including a robust economy, population growth, an attractive investment climate, world-class infrastructure, and an alluring lifestyle. As Dubai continues to grow and evolve, its real estate market remains a beacon of opportunity for those looking to invest in one of the world’s most dynamic cities.
If you’re tired of hunting for the best property developer in Dubai, it’s time you meet the creators of livable art i.e., Grovy. Contact us today!
Frequently Asked Questions
- What are the best areas to invest in property in Dubai?
The best areas to invest in property in Dubai vary depending on your budget and preferences. However, some of the most popular areas include Downtown Dubai, Jumeirah Beach Residences, Jumeirah Village Circle, and Business Bay. These areas offer a mix of amenities, attractions, and conveniences that make them attractive to both residents and tourists.
- Who are the top foreign investors in the real estate market of Dubai?
Britons, Indians, and Russians are the top contributors to the real estate investments in Dubai, as found in a study by Better Homes.
- Published in Property Developers
Building Your Dream Home in JVC: Top Builders to Consider
Monday, 04 September 2023
Giving shape to your dream home in Dubai is an aspiration of many. And, what could be a better location to have your home address in if not one of the prime attractions of the city, i.e., Jumeirah Village Circle aka JVC? The community-centric vibe, the lush neighborhood, and well-connected roads are a few reasons behind JVC property being the most searched query with 8.34% ROI, according to Property Finder’s report.
So, if you want to ride the JVC tide and build a home, you need a list of builders in Dubai who carry expertise in developing your haven. To make it easy for you, we’ve collected all the active JVC builders who you can choose from.
Want to know about them? Read on.
Top builders in JVC, Dubai
1. Nakheel Properties
Nakheel is the developer you owe the high reputation and real estate constructions of JVC to. The master builder of JVC constructed the six districts spanning 870 hectares in 2005. Thereafter, the builder in JVC gave shape and form to many high-worth residential and commercial projects such as Nakheel Townhouses, Nakheel Villas, the Circle Mall, etc.
If your budget and schedule align with Nakheel, you are sure to be impressed by their brilliant development.
2. Ellington Properties
Do you wish to experience the cool sea breeze in a house with contemporary architecture? You might want to check our Ellington properties in JVC, Dubai. It is one of the most reputed builders in JVC, offering elegant details and serene designs to make you feel closer to nature. Some of the projects of the builder you would love to take a glimpse over before finalizing the deal are:
- Belgravia (The pilot project of the developer)
- The Portman
- Hamilton House
- Harrington House
3. Binghatti Developers
You must have heard of Bugatti Residences. It was designed and delivered by none other than the inventive Binghatti developers. The developer has also set camp in JVC and given the region architectural marvels like Binghatti Rose, Binghatti Mirage, and Binghatti Gems. Not only do they create sky-high residences, but also complete the projects before their due time.
So, if you need innovation wrapped in opulence, echoing from every corner of your house, choose Binghatti.
4. Grovy Developers
If elegance, innovation, and sustainability had a home, it’d be Grovy. The developers are one of the few builders in JVC who offer affordable luxury projects while integrating eco-friendly elements for a better future. Some of their notable projects include:
All the projects are constructed by adding a contemporary element to modern designs. Besides, the renowned developer in JVC carries more than 35 years of experience in the real estate industry.
Pre-sale and post-sale behavior of other developers can vary, but never with Grovy. They provide excellent support at all times to build you a place you can call home.
5. Pantheon Elysee Developments
Pantheon is the builder in Jumeirah Village Circle (JVC) with projects comprising modern designs and sophisticated outlooks. Some of its projects have architectural inspiration from different countries. For instance, they designed the Pantheon Boulevard project in classic Spanish style with contemporary touches to make it suitable for the current day and age.
So far, the developer has finished 4 projects in JVC, including:
- Pantheon Elysee I
- Pantheon Elysee II
- Pantheon Elysee III
- Pantheon Boulevard
One of the interesting features provided by the developer includes payment in installation to secure an apartment in their projects.
6. Bloom Properties
Looking for developers who are green-certified and create dog-friendly residences? You will find the best of both worlds with Bloom properties. It is one of the best builders in JVC, popular for using environment-friendly practices in its construction, including rainwater harvesting, solar power utilization, and more.
They have completed 3 projects in JVC, comprising:
- Bloom Towers
- Bloom Height
- Bloom Gardens
All of these developments have more than 1000 units for people to invest in. The housing choices include studio, 1-bedroom, 2-bedroom, and 3-bedroom units as well as townhouses.
Who is the best builder in JVC for me then?
That’s a tough nut to crack.
Each builder in JVC is experienced in developing high-quality projects. The one who is the best will depend on what you consider ‘the best’. For example, if elegant construction with state-of-the-art facilities and sustainable features are your priority, Grovy is your best option.
Get in touch with us to chart out a strategy for building your home as soon as you want.
FAQs
1. What are Grovy builders in JVC known for?
Grovy is a prestigious developer in JVC that constructs residential and commercial spaces with a focus on modern designs, spacious layouts, and state-of-the-art amenities.
2. What are the features of Aria Homes by Grovy in JVC?
Aria Homes is a 125-unit project developed by Grovy in Jumeirah Village Circle. Some of the defining features available only in Aria apartments are:
- Prime location with quick access to schools, shops, public amenities, and major landmarks of Dubai
- High-end premium amenities such as temp-controlled pools, sauna, dedicated kid’s area, etc.
- Spacious layout across all units
- Modern architecture inspired by nature for energy efficiency and comfortable living
- Published in builders in Jvc
Invest With the Best – The Top 5 Leading Real Estate Companies in Dubai for Investment Opportunities and High Profits
Tuesday, 29 August 2023
If you have read the news recently, Dubai is topping the charts in real estate growth in the upcoming years. In fact, according to a report by Zawya, the emirate saw a magnificent growth of 20-40% in the previous 12 months. The best news is – the property prices haven’t peaked yet. This means now is the right time to look for investment opportunities in top real estate companies in Dubai.
So, whether you’re attracted by Dubai’s tax advantages or favorable government policies for your real estate investment, these companies you must have in your portfolio.
Here are the top 5 Real Estate Companies in Dubai
1. Emaar Properties
Leading the pack for real estate investment opportunities is Emaar Properties. It is one of the top real estate companies in Dubai. From beachfront penthouses to luxurious villas, you can find almost any kind of real estate property to invest in with Emaar. The world-famous company has been steadily profitable to ensure that your investment will offer high ROI. In 2022, it reported a profit of AED 3.80 billion, which is 17% higher than in 2021.
Some of the projects you can invest in include:
- Creek Waters
- Harbour Gate
- Golf Grand
- Palmiera
- Rivana
- Sunridge
2. DAMAC Properties
If you know about Burj Al Arab and Jumeirah Beach Residences, you should know about DAMAC Properties. It is one of the leading real estate companies in Dubai, which has projects lined up in the DAMAC hills. You can assess the profitability of the company through its profit of AED 1.4 billion in 2022.
A few projects that the company has recently announced can prove to be really rewarding for investment, such as
- The Farmhouses
- Verona
- DAMAC Bay 2 by Cavalli
- Golf Greens
- Akoya Oxygen
3. Meraas Holding
Known for their aesthetic brilliance, modern taste, and returns higher than your expectation is none other than Bvlgari creators, Meraas. It is one of the top real estate companies in Dubai, which is popular for constructing innovative projects by combining modern and contemporary elements. The popularity and the success of your investment are quite clear in their consistently increasing profits.
Some unique projects that you can invest in are as follows:
- Design Quarter
- Thyme
- Nad El Sheba
- La Ciel – Port De La Mer
4. Grovy
Do you want a boutique investment property that not only offers a luxurious experience but elevates your lifestyle? You will find it all with Grovy. Their innovative designs, personalized detailing, and commitment to sustainability have established the developers as one of the top real estate companies in Dubai.
With Grovy, you don’t just invest in a property; you invest in an elegant legacy. The company brings to the table the finest real estate buyer experience through its expertise of more than 35 years and industry experts’ collaboration.
The best part about the company is – You get an impressive 6.32% ROI in the most attractive destinations for real estate investors, i.e., Jumeirah Village Circle.
Consider investing in the following projects:
- Aria
- Aura
- Alcove
5. Al Futtaim Group
If you need to indulge in investments along with real estate in hospitality, retail, health, etc., Al-Futtaim is your destination. Carrying a multi-million dollar portfolio of various assets and corporate real estate, the company ensures that your investment brings high yields. The company has enhanced its presence across 20 countries, including the regions of the Middle East, Asia Pacific, and Africa.
Some of their noteworthy projects worth your investment are:
- Marsa Plaza
- Al Badia
- Dubai Festival City
Is there a defining factor that will drive the top real estate companies in Dubai?
Now this is a question that disturbs every investor before putting their hard-earned money into any opportunity.
It’s understandable. You want to be sure.
Here’s the tip that will help you see the potential of any project – Look for advancement with sustainability. Global leaders and the economy are pointing toward the significance of going green for a healthier future. Besides, Dubai has become a torch-bearer of combining sustainability in its culture and lifestyle.
So, any project from top real estate companies in Dubai that aims to score higher in eco-friendly construction must be your priority. For example, Aura Home by Grovy uses energy-efficient lighting systems to ensure less electricity consumption and eventually reduce carbon footprints.
If you want to get ahold of the best real estate investment, it’s high time you paused your research and booked a tour with Grovy. The property profits are waiting for you!
FAQs
1. What is the sustainable building standard followed by top real estate companies in Dubai?
All construction companies in real estate have to follow Dubai’s Green Building Regulations and Specifications, as well as mandates from the Dubai Supreme Council of Energy.
2. Is Dubai a good destination for real estate investors?
Absolutely. There’s no better time than now to invest in real estate in Dubai. A few factors which contribute to the city being the most attractive hub for investment are:
- Friendly tax policies
- High returns
- Rise in demand and development of luxury projects
- Competitive property prices
- Strategic location
- Stable economy
- Leading global developers
- Strong rental market
- Published in Real Estate
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