What is special about real estate in Dubai Hills in Dubai?
Dubai Hills is a popular conveniently located Dubai`s neighborhood. The most sought-after neighborhood stretches along Al Hail Road, providing residents with easy access to the main areas of the emirate. South Al Barsha and Downtown Dubai are two popular neighborhoods that are close to this area.
It is a joint venture between Meraas Holding and Emaar Properties, combining various subdivisions where you can buy luxury villas and townhouses in addition to apartments and residential plots. Property in Dubai Hills for sale is an ideal option for permanent stay and investments.
Characteristics of Dubai Hills
The neighborhood impresses foreigners with its outstanding beauty and variety of recreational areas. More than 1.4 million square feet of total space is devoted to outdoor spaces and parks. The lush greenery adds an element of tranquility and freshness to the place.
Dubai Hills has an 18-hole golf course, a 54 km bicycle route and its own megamall. It spans more than 2,700 acres and has earned a reputation as a family-friendly community with state-of-the-art accommodations with state-of-the-art amenities and amenities. With all these features, it is also among the best areas to search for apartments and villas for sale.
The housing units in Dubai Hills appear even more beneficial if we consider the comfortable taxation system in the UAE.
Special features of Dubai Hills
Choosing Dubai Hills as a place for relocation, a foreigner makes a contribution to a happy life in an advanced neighborhood. Foreigners from all over the world come to the destination for the following reasons:
- comfortable location and easy accessibility;
- advanced facilities and family-friendly atmosphere;
- wide choice of exclusive profitable real estate;
- calm and peaceful atmosphere;
- pet-friendliness;
- variety of opportunities for sport lovers.
The system of taxation and expenses when buying property in Dubai
The taxation system of the UAE, and in particular the emirate of Dubai, is considered one of the most progressive and pleasant for foreigners. Purchasing real estate in Dubai, they have to pay a number of taxes and fees, compared to many other areas, popular among foreign investors, the total costs do not look as significant. This is the main reason why foreigners are striving to the emirate and its neighborhoods.
On the whole, the taxation system in Dubai is characterized by the following peculiarities:
- Obligation to pay the registration fee, the amount of which is set at 4% of the value of the object stated in the contract of sale (for the emirate of Abu Dhabi, it is equal to 2%).
Sometimes this amount the buyer and seller divide equally between them, and in the case of new properties, half of the amount is paid by the developer. Payment is made at the time of the conclusion of the Dubai Land Department, and at the same time should pay an administrative fee of about $150.
- Presence of the licensed realtor when buying.
The law of Dubai requires the presence of a licensed realtor at the signing of the contract, who is preparing all necessary documents beforehand. The buyer will need to provide a copy of a passport or other identity document, application for withdrawal of funds from the bank account and a double-sided copy of the attached payment card. The seller must draw up a contract of sale, which includes full information about the property and the owner's rights. When buying a new construction, the seller pays for the agency services, and in the case of secondary real estate, the amount is divided equally between the two parties.
- Obligatory payment for the certificate of title.
The last payment is the fee for the certificate of title, which documents the legitimacy of ownership of the property. The fee is about $70 and is payable upon filing a request with the local court, which will issue a completed certificate in three business days.
- Additional costs obligatory in special cases.
Additional costs are incurred when buying with a mortgage or in the case of commercial real estate. You will have to pay a fee of 1% of the loan amount for the mortgage, and the registration fee will change, which will be about $80 plus 0.25% of the loan amount. If a commercial property is purchased, however, it is subject to federal tax (essentially VAT), from which buyers of residential property are exempt.
Help in selecting a housing unit in Dubai Hills
Dubai Hills provides a great opportunity for foreign investors to purchase real estate on a freehold basis. The real estate agency AX CAPITAL offers fascinating villas and apartments in the neighborhood for expatriate residents and non-resident investors. Contacting the professional real estate agent, a buyer will get qualified help at each step of a deal.
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