Over the years, Dubai has attracted investors and expats from across the globe to invest in the real estate of this popular country in the UAE. However, before you proceed to make a decision it is essential to be well-abreast with as much information as possible considering the amount of money and risk involved.
Herein when searching about real estate many of you might have encountered words like ‘Freehold real estate. And this might have made you wonder what is meant by freehold investment and whether it is an investment to try out. Hence, it is necessary to get complete knowledge of what it is exactly and how it can be helpful in the future. So here we go:
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Freehold property in Dubai
So, let’s first know what is freehold investment. Freehold property in Dubai can be defined as property which can be owned completely by the owner. Furthermore, they hold absolute rights over the building and land. In comparison to leasehold property, a freehold property is different in terms of ownership. While in the leasehold property, the land is leased by the owner to another person for a stipulated period. In the case of the UAE, the maximum time is that of 99 years.
Investing in freehold property Dubai
This brings us to the next question i.e. what makes investing in freehold property a better option in comparison to a leasehold property? So let’s look at the proper explanation.
One of the primary reasons for investing in a freehold property is that the investor gets complete ownership. Hereby you need not worry about losing your future nor get it changed over time. After buying a freehold property you as the owner get the title of a landowner in the Dubai Land Department (DLD) registry.
Here are the advantages of opting for a freehold property.
Here they are:
- You as the owner you can sell, lease or occupy the property as the sole owner of the property.
- Furthermore, you can pass on the freehold property to your heir. This means you can choose to keep the property with your family or people whom you feel to pass it to.
- Some of the necessary features of freehold property are as follows:
- As a freehold owner, you can change the unit and add on new structures in the property you have bought.
- The property will remain without any block for a limited period.
- You can sell or lease the property at your discretion.
However, now that we know about the advantage, you must also look into the other side of freehold property investment.
Limitations of a freehold property In Dubai.
- When it comes to leasing property in the UAE, you cannot buy it anywhere you want. The government has listed out designated areas where you can buy property as an expat.
- Moreover, you must purchase government-approved real estate developers and agents.
- You will be solely responsible for carrying out the repair or damage of the property.
- The final point is the cost factor.
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Conclusion
Now that you know what is a freehold property, it is necessary to weigh the pros and cons and make the ultimate decision of investment.
Freehold areas in Dubai for expats
APARTMENTS AND VILLAS
Al Barari
Al Furjan
Al Khail Heights
Al Warsan
DAMAC Hills (Akoya by DAMAC)
Dubai Festival City
Dubai Hills
Dubai Silicon Oasis
Dubai South Dubai Sports City
Dubai Waterfront
Dubailand International
City Jumeirah
Jumeirah Golf Estates
Jumeirah Village Circle
Jumeirah Village Triangle
Meydan City
Mohammed Bin Rashid City
Motor City
Mudon
Palm Jumeirah
The World Islands
Town Square
Wadi Al Safa 2
VILLAS
Arabian Ranches
Arabian Ranches 2
Arabian Ranches 3
Emirates Hills
Jumeirah Islands
Jumeirah Park Reem
The Lakes
The Meadows
The Springs
The Sustainable City
The Villa
list of freehold areas in Dubai 2022
APARTMENTS
Arjan
Barsha Heights
Bluewaters Island
Business Bay
Culture Village
Discovery Gardens
Downtown Dubai
Dubai Harbour
Dubai International Financial Centre
Dubai Investment Park
Dubai Marina
Dubai Production City
Dubai Residence Complex (Dubailand)
Dubai Science Park
Dubai Studio City
Jumeirah Beach Residence
Jumeirah Heights
Jumeirah Lake Towers
Liwan
Mirdif Hills
Mirdif Tulip
Old Town
Park Gate Residences
Remraam
The Greens
The Views
Best freehold properties in Dubai Damac Aykon City offers studio and apartments.