While there is a great variety of property on the Dubai property market, anyone who wants to own a home here needs to be cautious when buying, as there risks involved, just as in any real estate market. Here are a few things to watch out for at the moment:
Poor build quality
This is a major concern for many property buyers, especially long time residents that know how a bad construction job can influence the property. There have been recent reports that due to the inflation of concrete, some constructions are cutting corners, resulting in shoddy building work and severe compromise on the longevity of the property. If you buy a home, especially with prices as they are, you want your home to last more than five or ten years, so be sure to buy from a reputable developer when purchasing your Dubai property.
Developers that are not registered
You might be surprised by this, but some developers that are operating and selling freehold property are not actually registered with the Dubai Land Department that is in charge of the Dubai real estate sector. If you are interested in a property, be sure to ask for proof that the company is registered, which they should be able to confirm with a registration number and registration card. If a developer cannot produce these for you, then you may be dealing with an unregistered firm.
Over-inflated property prices
There is inflation in the market, but that doesn't mean you should pay more than necessary. Some ทาวน์เฮ้าส์มือสอง property buyers may face a situation where the seller of a property they want is trying to charge above the market price, and if this is the case, then don't hesitate to argue.
Legal matters
It is essential that anyone who buys property in Dubai use a solicitor to cover the legal legislation. There are always new and updated property laws and regulations, including the freehold property contracts that are issued by developers, so make sure you know what you are buying, and what rights you have with your Dubai freehold property.
These are just the basics, but the best way to avoid any pitfalls is to do your research and shop around before buying.
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