The UAE is famous for its amazing architectural wonders, sky-touching buildings, and iconic structures like the Palm Tree and Burj Khalifa. The country, which used to be known for its oil economy, relies heavily on tourism and real estate too. The growing prospects of tourism and increase in career opportunities directly lead to demand for aboding options and housing units. According to a report by Motor Intelligence, the United Arab Emirates Residential Real Estate Market is forecasted to grow at a CAGR of >8% over the next five years (2022 to 2027). As a result, the apartments for sale in UAE are of great interest among global investors.
Since the time the UAE government allowed foreigners to purchase properties in the country, the real estate sector witnessed a massive boost via global investments. Today, apartments in UAE are the most abundant form of real estate property. UAE is a modern country with expats making up most of its population. To cater to people from every cultural and financial background, you can find flats in UAE in various budget ranges, sizes, designs, and facilities. No matter what class or culture you belong to, Zoom Property can help you blend in UAE’s real estate.
Living in UAE means you open doors to upscale living and world-class career prospects. In addition, the country is culturally-rich and hosts people from every corner of the world giving you massive exposure and opportunities for learning. As a result, single professionals, couples, families, as well as wealthy individuals, business tycoons, and celebrities, think at least once in their lifetime to get settled in the UAE, especially in Dubai or Abu Dhabi. This country is a hub of both professional opportunities and tourism. And because the influx of foreigners is increasing more and more every year, residential units, especially apartments in UAE, are very quick to rent out and easy to sell for profit. Handsome ROI and good rental income are the main reasons investors love the UAE’s real estate market.
Dubai, Abu Dhabi and Sharjah are the most popular destinations for finding residential flats in UAE. Dubai is a popular destination among people who are a fan of the vibrant and dynamic lifestyle and who prefer to indulge in the bustle of the city and witness the Arabian Nights. Apartments for sale in Dubai are sought after by people of every sort - professionals, celebrities, businessmen, and investors. These apartments are known for their luxury and high-end amenities.
On the other hand, people who prefer serenity and remain close to the UAE’s cultural heritage seek apartments in Abu Dhabi. This is a relatively quieter emirate in the UAE that offers the same level of upscale living, high-end housing, and amenities as Dubai. Next, apartments in Sharjah are popular among people working in Dubai who choose to live in Sharjah because of affordable housing. Because these people are mostly professional workers, 1-BHK and 2-BHK units in Sharjah have the highest demand.
Are foreigners allowed to buy an apartment in UAE?
In UAE, every emirate has designated freehold areas where foreigners are permitted to own property. This means an expat can purchase, sell, or lease property in the freehold areas of the UAE.
Can I live in UAE permanently?
If you make an investment of at least 5 million AED in the UAE’s real estate, you become eligible to acquire a five-year visa. But there are a few conditions: you must hold onto the property for three years, and the property must be purchased in the form of a loan.
What are the best areas to buy an Apartment or flat in UAE?
Each emirate is famous for different reasons. However, Dubai, Abu Dhabi and Sharjah are the most sought-after cities to buy an apartment for yourself or as an investment.