Buying Penthouses Like Wallich Residence

Wallich residence offers the most luxurious penthouses in Singapore. The best wallich residence penthouse in Singapore also cost a fortune as it comes with the top-notch luxury lifestyle.

Buying a penthouse in Dubai can be a thrilling experience, but one that has its challenges too. If you’ve been dreaming about owning your own luxury apartment in the UAE, then it’s time to take a closer look at how it’s all done. Dubai is home to some of the most lavish real estate developments in the world and there are many reasons why you want to own a property here. But first, know what you’re getting into!

Keep Cost And Expenses In Mind

Property in Dubai can be an expensive proposition. A single-story house in the city will set you back roughly a million bucks (Dh approx). It goes without saying that there will be a lot of maintenance costs involved too. So if you’re thinking of buying a property, make sure you know what you’re getting yourself into before jumping into the market. Make sure you know the cost, the monthly payment, how much you’re allowed to spend on furniture and other amenities, and know the laws regarding property transfers in Dubai too.

Height Of The Building

A four-story apartment in Dubai is out of the question for most domestic investors. And a five-story property just won’t cut it either. You can only afford to buy a property in Dubai if you have a minimum of 5 story buildings to build upon. So if you’re planning to invest in a property in Dubai, this is one parameter you definitely need to watch out for. If you want to buy a penthouse, make sure you know how tall your proposed building can be.

Legal Aspects

Another important parameter, you need to consider before buying a property in Dubai is the legal aspect of it all. Owning a property in Dubai can be both a blessing and a bane. The legal requirements and taxation changes with the passage of time. You may not be aware of it when you start looking for properties in Dubai, but don’t think that because you don’t live in Dubai you won’t have to face the legal system or tax problems.

Property Price

If you are a regular visitor to Dubai, you’ll be aware that property prices here are constantly on the rise. However, this fact shouldn’t deter you from buying a property for yourself. Property in Dubai is relatively cheaper as compared to most of the developed countries. So even if you are planning to make regular profits on your investment, you shouldn’t panic as you would do if you were planning to invest in a property in the U.K. or Australia.

Law, Rules, And Regulations

The law regarding property purchase in Dubai is pretty clear. Unlike other countries where foreigners are not allowed to buy property for personal use, foreigners are almost welcomed when they decide to buy a property here. This means you can rest assured that you will have no problem when it comes to dealing with property transactions. Besides, you will definitely have a lot of options available to you while buying a penthouse in Dubai. There are many types of properties – ranging from the more common and affordable ones to the exclusive ones – so you will definitely find something suitable for your taste.

Before buying a property, it’s a good idea to check the rules and regulations regarding property purchase in Dubai. In addition to that, familiarize yourself with the laws regarding tax, insurance, customs duties, and land ownership among others. In addition to that, it is important to find an agent who can act as your representative while you deal with the property. The agent will help you find the best property according to your budget.

Once you have decided to buy a property, the next step is to find one. The first thing you need to do is ask your friends or relatives who have already bought a property for themselves. Try to learn as much as you can about the property you are eying to buy. You can go to open houses or you can search the Internet to get more information. Once you have found a good property, the next step will be to negotiate the price. Although the price is what matters the most, you should not forget to think of the reputation of the real estate agent you are negotiating with.