New buildings in Dubai

Every year, more and more foreigners express their interest in new construction projects in Dubai. In 2024, it's possible to purchase a compact studio for less than AED 500,000 in this city. A one-bedroom apartment can cost up to AED 2 million or more if you consider the premium segment. Other property types tend to be more expensive. Investments in Dubai real estate can deliver an ROI of up to 20%. If you are a foreigner who doesn't know the UAE laws and practices well enough, you can easily hire an experienced broker to complete the deal.

In this article, we'll analyze the advantages of buying real estate in Dubai. We'll list the most in-demand property types and the most coveted city areas for new property developments. We'll inform you about the expenses related to buying real estate in Dubai. Last but not least, we'll describe the benefits of our Aemetria agency.

Advantages of Buying Real Estate in Dubai

Dubai has a dozen of essential benefits that attract foreigners:

1. It is strategically located between Europe, Asia, and Africa. At any time of the year, it will be easy for you to travel from here to any part of the world and back.
2. It rains only for a couple of weeks per year here. If you love the sunny and warm climate, Dubai is your destination.
3. To travel to the UAE, most foreigners need a visa. After you purchase real estate here, the process of obtaining the visa will become much simpler. You'll qualify for its residential variety.
4. Dubai is a safe city with an exceptionally low crime level and an efficient police force. The legislative system is comprehensive and most spheres of life are reasonably regulated. The political situation in the country is very stable, so the risk of large-scale conflicts or turmoils is close to zero. This matters not only to residents but to investors as well — the latter perceive Dubai as a safe haven.
5. The local taxation policies are remarkably lucrative. For instance, there is no income tax or annual property tax.
6. The Dubai economy is rapidly evolving. If you want to get employed or launch a business here, you'll appreciate the selection of niches and opportunities.
7. Dubai integrates technologically advanced solutions at an impressive pace. Locals adore innovations and can afford them.
8. It's a multicultural city where expats from all parts of the world live. You'll enjoy networking with professionals, influencers, and noteworthy personalities. The population of the city keeps increasing, so you'll be making new useful contacts regularly.
9. If you appreciate culture and love to have fun, you'll never get bored here. Dubai is full of sights and entertainment facilities for all ages. It's a great place to indulge in shopping, practice sports, watch shows, and get engaged in diverse exciting activities.
10. There is a Ministry of Happiness in the UAE. It oversees the governmental plans to ensure the citizens feel happier and lead a genuinely comfortable life.
11. The local real estate industry is booming. Until recently, Dubai was synonymous with luxury. Now, the premium segment is thriving too — but in addition to it, developers build various more affordable properties.
12. The return on property investment tends to be higher than in many other metropolises, such as New York or London.

Hopefully, this list of benefits was convincing and now you better understand why so many people want to know about the upcoming projects in Dubai.

Most In-Demand Property Types

The range of the available property types in this city is very wide. However, most new residential projects tend to be focused on the following formats:

• Studios. It's the cheapest and the most compact type of accommodation. It's popular among professionals and entrepreneurs who come to Dubai alone for work or business, respectively. Investors love studios too because they generate steady demand and can deliver a nice profit.
• Conventional apartments. They can be situated in relatively small villas or large apartment blocks. Most of them have from one to four bedrooms.
• Multi-storeyed apartments. When you are inside, you enjoy the illusion of living in a villa. At the same time, you can benefit from the infrastructure and services of a residential complex.
• Hotel properties. This one attracts investors from all over the world because it's an easy and reliable way to get passive income. The hotel administration will be in charge of maintenance and finding tenants.

Besides, there are many other types of new buildings in UAE — such as penthouses, villas, and mansions. Their key target audience is well-off individuals.

Most Popular and Rapidly Developing Dubai Districts

Many of the latest projects in Dubai are located in the five most attractive areas:

• Palm Jumeriah. It's a high-end resort with multiple beaches and sophisticated restaurants. Properties are expensive here. Many of them boast superb views of the coastline and some of the local sights.
• Jumeirah Lake Towers. This district is located close to some of the city's major sights. At the same time, it's just as tranquil as a suburb.
• Jumeirah Village Circle. This one is ideal for families with kids. It's rather affordable and has a robust infrastructure that includes a multitude of shops and schools.
• Business Bay. Its primary benefit is excellent transport accessibility. The property prices are not too high and the entertainment infrastructure is well-developed.
• Dubai Marina. It's a firm favorite among those who want to live on the waterfront. Expats love it for its views and fine dining facilities.

However, there is a chance of detecting worthy upcoming real estate projects in many other districts — such as Dubai Media City, Bluewaters Island, Old Town, Downtown Dubai, Umm Suqueim, Al Wasl, and others. The city grows and evolves rapidly, so property buyers are often spoilt for choice.

Expenses Involved in Buying Real Estate in Dubai

When choosing new properties for sale, it's important to keep in mind all the expenses that the deal can involve. These usually include:

• Initial deposit. The customer transfers it to an authorized real estate regulatory agency. The agency keeps the money until the deal is completed. The standard amount of the initial deposit is 10% of the property's purchase price.
• Mortgage fees. These can include, for instance, the bank mortgage arrangement fee of 1% of the loan amount plus 5% VAT. The property valuation fees can be up to AED 3,500 plus 5% VAT.
• Government fees. The most common example is the fee for registering the property, which is normally 5% of the purchase price. If you take a mortgage, it will include a fee of 0.25% of the loan amount.
• Insurance fees. If you take a mortgage, the contract will include mandatory life insurance. It normally costs around 0.4-0.8% of the loan amount and decreases every year. If you wish, you can insure your property, which is not obligatory. It can cost you about AED 1,000 annually.
• Service fees. These can vary greatly depending on the property type and the area where it is located. Be ready to pay for the maintenance of the elevator, landscape, swimming pool, and other infrastructure.
• Agency fees. Typically, real estate agencies charge 2% of the purchase price plus 5% VAT. However, others avoid doing it — for instance, we in Aemetria.

The exact list of the involved expenses and their amounts will depend on your individual circumstances. An experienced broker will be able to clarify all the details for you.

Benefits of the Aemetria Real Estate Agency

Aemetria stands out from the other real estate agencies in Dubai because we don't charge fees to clients. You can benefit from all our services for free, including consultations and legal advice. We'll be glad to share the list of new developments in Dubai with you and help you select the property that best suits your needs. We can find apartments or houses for you for any purpose — living, renting out, or reselling at a profit.

Our company has been around since 2016. We had enough time to establish our brand in the thriving UAE market, solidify its reputation, and attract a large international pool of loyal customers. People who have already used our services once eagerly come back to us. They leave positive reviews about Aemetria, rate us with five stars, and recommend us to their acquaintances. This serves as the best proof of our professionalism.

Our staff is experienced in finding all types of new apartments for clients — from compact studios to lavish penthouses. We get them right from the developer, that's why we can guarantee the best prices thanks to the lack of intermediaries. We have exclusive access to the most lucrative deals in the primary and secondary real estate markets in the UAE.

As an extra perk, we provide multiple additional services to foreign customers. We can assist you with:

• Obtaining a visa
• Opening a bank account in the UAE
• Getting insurance
• Conducting money transfers to and from abroad

Feel free to contact us! We'll be happy to show you the list of new projects in Dubai and answer all your questions.