Are you thinking about moving to Dubai? The second largest emirate in the UAE is truly a multicultural metropolis that welcomes immigrants from all over the world. Buying investment flats in Downtown Dubai is the first step towards relocation and starting a real estate business in the UAE. If you have a grandiose plan to make Dubai your new home, it makes sense to learn what it’s like to live here, opportunities for finding housing and jobs, living costs, and more. In this article, we answer all that and more, delving into a list of 3 of the most frequently asked questions about moving to Dubai.
Important Facts about the UAE
If you plan to relocate to Dubai, it is recommended to have a clear image of the country of your future residence. We have prepared 7 important facts about the UAE.
- The UAE is a country made up of 7 separate emirates, each of which is essentially an independent state.
- 30% of the economy is the production of oil and gas. However, today the government actively works on the diversification of the economy and attracts more foreign investments in the sphere of real estate.
- Only one in ten residents of the UAE is local. Approximately 90% of the population of Dubai is foreigners.
- The official language is Arabic. But English is also popular. All signs are duplicated in English. The language is widely spoken by police, doctors, and employees in all areas, where you may need to contact a person in the UAE.
- The state religion is Islam. Not only locals, but 90% of immigrants are Muslim. However, the state respects other religions and creates equally comfortable conditions for all residents.
- In order to obtain UAE citizenship, at least one parent must be a citizen of this country. Unfortunately, today it is impossible to obtain citizenship for investments in real estate or other spheres.
- The climate is very hot and dry. In summer, the temperature in the shade reaches 40-45°C, and sometimes even gets up to 50°C. In winter, the average daytime temperature ranges from 20°C to 23°C. In addition, most of the territory is occupied by deserts, so there are often sandstorms.
Now, let`s delve into a list of 3 of the most frequently asked questions about buying real estate and moving to Downtown Dubai.
The list of documents can change depending on your marital status, occupation, and other individual needs. However, the common list of documents obligatory to take with you is the following:
- verified educational documents;
- verified marriage certificate (if applicable);
- verified birth certificate;
- a valid driver’s license (in some cases, you may be able to convert it into a UAE driver’s license.)
Be sure to confirm and certify your documents in your home country before you leave. Moreover, it is advisable to issue a notarized power of attorney to a person you trust in your home country. If you don’t have the time or ability to get mail, prepare documents, sell an apartment, or take another legal action, a power of attorney can help.
Dubai has a large selection of residential properties to suit all budgets and tastes. You can find apartments, residences, and penthouses in Downtown Dubai at reasonable prices. The real estate agency Dubai-Property.Investments offer qualified help in selecting, negotiating, and making transaction on real estate purchases in Downtown Dubai.
The agency provides buyers with premium-quality housing in the new residential complexes in the neighborhood. Along with comfortable conditions for living, the homeowners obtain properties of high liquidity, high ROI, and payback in 5 years.
Some ex-pats, without finding out everything thoroughly before immigrating to the UAE, get excited about the level of wages, which seem enormous compared to what they were earning at home. They don’t take into account the expenses for which their money in Dubai will be used up in no time at all.
Regardless of the fact that Downtown Dubai is one of the most expensive neighborhoods in Dubai, the government strives to make living conditions equally comfortable for locals and foreigners.
The amount of money depends on your lifestyle and necessity. According to statistics, estimated monthly expenses for a family of four are AED 13,000. For a single living about AED 3,000 will be enough. Keep in mind that rent and property maintenance are not included in these numbers.
The bottom Line
The opportunity to buy a residence in Downtown Dubai is pure luck. As the epitome of luxury, the residential complexes in the neighborhood provide investors with the most comfortable living conditions and a wide range of apartments for a stable income. Such a tempting offer does not require long consideration and estimation of pros and cons. This is the case when a rational decision should be made immediately.