Why Location Matters When Buying Property

When it comes to buying property or real estate, the location of the property is often more important than the features of the property itself. It is often the deciding factor for most buyers. Whether you are looking for an investment property or your next home, understanding why location matters can help you make a more informed decision and get the most out of your purchase. Let’s explore why location matters when buying a home.

1. Location Affects Property Value

One of the major reasons why location is so important when it comes to buying a property is because it affects the value of that property. A property currently situated on a land can be renovated or upgraded, but you cannot change where the home is located. Generally speaking, properties located in desirable areas tend to appreciate over time, while properties located in less desirable areas generally depreciate in value. Therefore, if you are buying a property intending to invest in its future value, choosing a good location is essential.

2. Location Affects Accessibility And Quality Of Life

Another important factor to consider when selecting a property is accessibility. This can refer to access to public transportation, roads and highways, schools, and other amenities such as shopping centers and entertainment venues. If you plan on living in the property yourself, then accessibility will also affect your quality of life since you will be closer to places that are important to you.

Consider the following;

a) Accessibility to schools

If you are looking for a family home, being close to good schools should be taken into account when choosing your new property’s location. Good education options will ensure that your children get off on the right foot with their studies. Additionally, many parents prefer to have their children attend school close by so that they don’t have to travel far every morning or afternoon, which can save time and hassle in the long run!

b) Accessibility to amenities

One of the most important aspects of a potential neighborhood is its amenities and accessibility. It’s important to consider how far away shops and restaurants are from your new property as well as whether there are any leisure activities nearby such as cinemas or parks. As well as this, if you have young children or elderly family members living with you then having easy access to medical centers can be invaluable in times of need. Proximity to these amenities will typically improve a home’s value.

c) Transport Links

 

Another consideration for many buyers is how easy it is to get into town or elsewhere from the new property. If you don’t own a car, then having access to public transportation such as buses and trains can be essential in ensuring that you can easily travel back and forth daily for work or leisure purposes.

3. Location Affects Your Neighbours
Finally, one other factor that should be taken into account when deciding on a location for your new home or investment property is who your neighbours will be. It’s always wise to research the area thoroughly before making any final decisions as this can go a long way towards ensuring that you will enjoy living there without any problems from neighbours or other residents who may not share your values or interests.

Conclusion:

Choosing a good location for your new home or investment property should not be taken lightly, as it can have major implications for both short-term and long-term outcomes. It is often the single most important driving force behind the value of a property. From appreciation potential to quality of life factors such as accessibility and neighbourly relations; taking all these factors into account can help ensure that you make an informed decision about where to buy your next piece of real estate. With careful research and due diligence, you can find the perfect spot for your new home!

Are you looking for a property to buy in Dubai? Ebdaa Developments has experienced real estate professionals who are knowledgeable about the Dubai property market. Whether you’re a first-time home buyer, a growing family looking for a bigger space or you want it for investment, we’ll be with you every step of the way, providing expert advice and guidance so that you can make the best decision. Get in touch with us today!

 

The top best real estate developers in Dubai

1 – EMAAR PROPERTIES

Dubai-Mall-by-Emaar

Emaar Properties has been making waves in the UAE’s real estate sector since it was established in 1997. As one of the leading developers in the UAE, Emaar’s interests stretch throughout hospitality, retail, residential and commercial property development. Apart from the United Arab Emirates, the company has a presence across several foreign markets like North Africa and the Middle East.

The Dubai-based developer is responsible for several iconic projects in Dubai. Two jewels in Emaar’s crown are the Burj Khalifa, the tallest building in the world, and The Dubai Mall, one of the largest shopping malls in the world. A relatively new addition to their portfolio is the Dubai Opera, which is also the first dedicated opera house in the UAE. Furthermore, Emaar were also the masterminds behind the creation of The Dubai Fountain, a choreographed fountain display which is immensely popular with both visitors and tourists alike.

Apart from hotels and resorts, Emaar’s portfolio also includes several residential communities like Downtown Dubai, Emaar Beachfront, Dubai Marina, Arabian Ranches, The Meadows, The Lakes, The Greens and The Springs.

2 – NAKHEEL

Nakheel is another well-known name which is often featured in the list of best real estate developers in Dubai, for good reason. The company’s projects cover a major portion of the country’s real estate sector – spanning across leisure developments, retail, hospitality, commercial and residential projects.

One of Nakheel’s many noteworthy projects is the massive Palm Jumeirah in Dubai. The development of the artificial archipelago was a feat in itself, considering that it added more than 300 kilometres to Dubai’s coastline. It also expanded the city’s real estate sector with hundreds of waterfront resorts, hotels, homes and other attractions.

Aside from the man-made island, Nakheel has a growing range of other notable residential projects to its name. This includes Discovery Gardens, Jebel Ali Village, The Gardens, Nad Al Sheba Villas and International City. Additionally, Nakheel has many popular retail projects in its portfolio, including Nakheel Mall, The Pointe, Dragon Mart, Dragon Mart 2, Ibn Battuta Mall, and Golden Mile Galleria.

3 – DUBAI PROPERTIES

Jumeirah-Beach-Residence

As the property management and development unit of the Dubai Holding Group, Dubai Properties is known for shaping some of Dubai’s most recognisable real estate destinations. Dubai Holding was established in 2004 and has operations in over 13 countries. Collectively, its asset portfolio is estimated to be worth around AED 130 billion. 

Their portfolio of projects includes highly acclaimed developments such as JBR (Jumeirah Beach Residence), Dubailand, Business Bay and others. Additionally, the company’s projects also include the freehold residential project Madinat Jumeirah Living and Marsa Al Arab, a luxury tourism and waterfront destination in Jumeirah.

4 – MERAAS

Meraas is a Dubai-based holding company that has launched several developments in multiple sectors including real estate, F&B, retail, entertainment, healthcare and hospitality. It was founded in 2007 and has developed a number of popular projects since its inception. Examples include Boxpark, City Walk, The Outlet Village, The Beach and La Mer.

As one of the top property developers in Dubai, Meraas is also credited for spearheading a diverse range of residential projects in the emirate. These include Port de la Mer, a pristine island community located at the heart of Jumeirah. Other prominent projects by Meraas are Nkki Beach Resort and Spa, Caesars Palace Bluewaters, Bvlgari Resort and Residences.

Dubai Real Estate Market In Light Of Covid-19 Pandemic

Real Estate Market During COVID-19

Warren Buffet said that “You have to be greedy when everyone is fearful and fearful when everyone is greedy.” In line with that, Dr. Mahmoud later mentioned that he believes it is a great opportunity for those that are capable of investing to really start searching for good deals. Although the market might continue to drop, unsure of how long, it will eventually pick back up after this pandemic and the lockdown has been lifted. He also shared some statistics from China as they have lifted their lockdown and have already seen a 30% increase in their real estate transactions.

Dubai is known for its resilience and risk management; it is in the DNA of the city. If we just look at the airport in the 1960’s, Dubai only had 2 airplanes coming in hired from Pakistan and today it sees over 200 airplanes and people from all around the world.

Dr. Mahmoud also shared that Foreign Policy Magazine talks about the word “VUCA” which means Volatile, Uncertain, Complex and Ambiguous. They use this term to describe the current situation in the world, but Dr. Mahmoud believes while yes, this is the current status with COVID-19, the world is still full of big opportunities. This situation can give people, cities and policy makers a chance to reset their cities to make them more affordable and sustainable.

Dubai real estate market forecast

“It is a situation that we are not used to, and it is the worst since 1929 according to IMF and the World Economic Forum. However, at the same time this is a golden era of opportunity and affordability that we probably won’t see again for another 10 years.” said Dr. Mahmoud.

He later discussed the difference between a short- and long-term vision and how it plays an impact on the market. The German central bank and a few other global universities did a case study that proved that in the last 150 years, real estate and housing was the best asset to have.

Dr. Mahmoud also stated that “I am big believer that this is the right time to buy! I am not pushing anyone to buy but I do think that if you don’t buy when current prices are 40% less than 2013 and 2014, then when do you buy?”

Top Reasons to Invest in dubai Real estate

WHY YOU SHOULD INVEST IN DUBAI

High Rental Returns

Dubai is among a few places in the world where you can receive a high rental return for your property. To be more precise, the rental rate for properties in Dubai are usually 8% of the property price.

No Tax On Properties

Dubai is one of the few places on the plant offering 0% tax for its properties. This fact makes properties for sale in Dubai highly affordable, investing in them highly lucrative. This is why investors are flocking to Dubai for investment purposes.

Valuable Properties

It is interesting to note that properties for sale in Dubai get more valuable year by year. Average residential property prices increased by 10.9 per cent in the year to May 2022, with apartment prices rising 9.6 per cent and villa prices up 19.8 per cent, CBRE said in its latest Dubai market report.

Strong Economy

The economy of the United Arab Emirates (or UAE) is the 5th largest in the Middle East (after Iran, Saudi Arabia, Turkey, and Egypt), with a gross domestic product (GDP) of US$501 billion (AED 1.84 trillion) in 2022

The business hub of the Middle East

Free trade, a low tax rate, and zero income tax have made Dubai a popular business hub and a wealthy state. Dubai is also the gateway to the East and boasts of the world’s highest international passenger flow. It is a world-renowned destination for all travelers, including the rich and famous.

UAE Golden Visa explained: Who can apply, what are its benefits?

What is the UAE’s Golden visa?

The UAE’s ‘Golden visa’ is a long- term residency visa which enables foreign talents to live and work or study in the UAE while enjoying exclusive benefits which include:
  • an entry visa for six months with multiple entries to proceed with residence issuance
  • a long term, renewable residence visa valid for 10 years
  • a self-sponsored visa, as there is no need for an employment sponsor
  • ability to stay outside the UAE for more than the usual restriction of six months in order to keep their residence visa valid
  • sponsoring their family members, including spouse and children regardless of their ages
  • sponsoring unlimited number of domestic helpers
  • allowing family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away.
  • Who is the Golden visa for?

    Investors
    Real estate investors can obtain a Golden visa in the UAE if they fulfil one of the following conditions: purchase a property worth no less than AED Seven Million & fifty Tousand or purchase a property with a loan from specific local banks or buy one or more off-plan properties of no less than AED two million from approved local real estate companies.

    Entrepreneurs
    Entrepreneurs can obtain a Golden visa if they fulfil one of the following conditions: ·own or partner in a start-up registered as a small and medium enterprises (SMEs) in the UAE, and the company generates annual revenues of not less than AED one million ·obtain an approval for a start-up idea from an official business incubator or from Ministry of Economy or other competent local authorities must have founded an entrepreneurial project that was sold for a total amount of not less than AED seven million.

    Exceptional talents
    Inventors, innovators, and exceptional talents in vital fields such as culture, art, sports and digital technology can obtain a Golden visa regardless of their educational qualification, employment status, monthly salary or professional level. The visa requires a recommendation or approval from a federal or local government entity.

    Scientists and professionals
    Scientists Scientists and researchers with high achievements and influence in their field can get the Golden visa based on a recommendation from the Emirates Scientists Council. A candidate should have a PhD or a Master’s degree in one of the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.

    Professionals
    Professionals or highly-skilled workers with high educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences can get the Golden visa if they: have a valid employment contract in the UAE are classified in the first or second occupational level as per the classification of Ministry of Human Resources and Emiratisation hold a Bachelor’s degree or equivalent have a monthly salary of not be less than AED 30,000.

    Outstanding students and graduates
    High performing students in the UAE’s secondary schools and outstanding graduates from the UAE’s universities and the best 100 universities worldwide can get the Golden visa. Criteria includes academic performance/cumulative average, year of graduation and the university classification.