Buying off-plan property is the most common form of real estate investment in the UAE. Other than that, some investors also buy ready-to-move-in properties to get quick gains. Both these types of investments are known to produce fruitful results. Having said that, there is another opportunity for investors in the UAE for a long-term profitable venture, which is to buy land in the county.
Earlier, only UAE nationals were allowed to sort through lands for sale offers and buy. However, the authorities amended the property ownership laws in different emirates. Now, not only GCC nationals but foreigners who belong to other countries can also buy land in the UAE.
With this opportunity, more foreigners have shown interest in investing in the UAE. International development firms, in particular, are grabbing this opportunity. They are building the latest residential projects in different emirates in the UAE that feature state of the art facilities and amenities. These projects are geared to provide residents with an upscale lifestyle.
Apart from investors and builders, the offers for lands for sale in UAE can also be availed by those who are seeking a place to build their home. They can construct a villa or a townhouse, depending on the area they have purchased the land. However, it is important to know there can be some restrictions and guidelines to adhere to vis-à-vis architecture design. These guidelines differ in terms of the location you have selected.
Popular Cities for Land for Sale in the UAE
Almost every city in the UAE has offers for lands for sale. However, the selection of the right one depends on numerous factors. If you are buying land for constructing a home (villa or townhouse), select the city in which you plan to spend the rest of your life. On the other hand, if you intend to buy it as an investment, you must choose the city that has potential in terms of the growth of the real estate sector. For example, getting land in Dubai will prove to be a better idea as compared to Ajman. Having said that, your budget will also impact this selection.
Price trends for lands are subjected to the location. Needless to say, in Dubai, price trends will be on the higher side. And you can expect them to reap profitable results as well. This is the major reason developers, investors and buyers prefer this city to buy lands and plots.
Other than that, the area the land covers also impacts the price. Bigger areas have the potential to generate more ROI. Nearby construction sites and amenities also matter a lot when it comes to the price of the land and its future prospects.
Steps to Buy Land in the UAE
Have a look at some of the major steps you need to follow to buy land in the UAE:
To begin with, finalise all the important details. For instance, select the city and the neighbourhood where you want to buy the land. Furthermore, determine the size of the land as well. Being clear with your requirements will make the rest of the process rather easy.
After you have selected the location and finalised other details, start viewing listings for lands for sale in the UAE. You can find the most sought-after listings at Zoom Property’s portal. There is also an option to apply filters to find listings that match your interest.
Next, visit lands that you have shortlisted. Bear in mind that lands are areas with no construction whatsoever. However, you must visit it to have a look at the area and nearby facilities.
Don’t make the mistake of signing an agreement for land before verifying details. Ask for the title deed and other important documents for this purpose. Also, verify ownership by cross-checking it on the DLD portal.
After you have verified every single detail, the last step is to reserve the land. For this, you will have to sign the contract and deposit down payment. Make sure to have your emirates ID and passport in possession at this stage.