How To Buy Property In Dubai From Karachi, Pakistan
Dubai’s strategic location, business-friendly environment and tax-free policies have made it the most important investment destination in the world for both foreign investors and expats. Investing in Dubai real estate market is the new talk of the town, due to the fluctuating exchange rates and current economic crisis in Pakistan. But the most important concern amongst the Pakistanis is how to buy property in Dubai from Pakistan?
If you are a Pakistan national or a resident of Karachi and considering to invest in property abroad, then investing in Dubai real estate market should be on your ultimate list.
In this blog, we’ll discuss the following:
- Can Pakistani buy property in Dubai?
- Step-by-step guide on how to buy property in Dubai from Pakistan.
- Looking for a leading real estate agency in Dubai?
- Benefits of buying property in Dubai.
- Best Areas for investment in Dubai.
- Buy Property in Dubai and get Residency – Dubai Golden Visa.
- Final Thoughts.
CAN PAKISTANI BUY PROPERTY IN DUBAI?
Are you a Pakistani wondering if you can buy property in Dubai? Good news, you can! Dubai has an open policy that allows foreign nationals, including Pakistanis, to purchase property. In fact, Pakistanis are among the top 10 nationalities who invest in Dubai’s real estate market.
If you’re wondering where to start your property investment journey, freehold popular areas in Dubai where foreign nationals can purchase property with ease include:
- Dubai Marina
- Downtown Dubai
- Jumeirah Village Circle (JVC)
- Arabian Ranches
- Palm Jumeirah Housing Society.
HOW TO BUY PROPERTY IN DUBAI | STEP BY STEP GUIDE:
For Pakistanis interested in Dubai real estate, Aeon & Trisl has outlined six simple steps to follow before buying a Property in Dubai.
- Research the whole Dubai
Before investing in property in Dubai, it is important to do your own homework by researching the whole Dubai. Don’t just stick to a specific area or community as you don’t want to lose out on your dream Property in Dubai due to any negligence. Look at the current market trends, prices and demand for property in different areas of the city. This will help you make an informed decision.
- Find a Leading real estate agency in Dubai:
If you are considering to invest in Dubai real estate, keep in mind that it is extremely important to work with a leading and reputable real estate agency. If you find the leading real estate brokerage firm in Dubai then you are the luckiest one. They will handle everything for you, from legal requirements, arrangement of mortgage to your final transaction.
Always look for an agency that has a good track record, is licensed by the Dubai Land Department and has experience working with investors from Pakistan.
Looking for a leading real estate agency in Dubai?
Aeon & Trisl is the name that always stands out. We’re the leading reputable real estate brokers in Dubai, verified by RERA, with a proven track record of success and recognition within the Dubai industry. Our accolades include being named as Dubai’s Leading-Award Winning Real Estate Brokers as well as being honored with the prestigious Emaar Diamond Broker, Nakheel Diamond Club Members and Majid Al Futtaim’s Top Tier Broker awards. Furthermore, our Founder and Group CEO, Mr. Saleem Karsaz has been recognized as the Top Ranked Broker by Dubai Land Department.
Our experienced professionals have a wealth of knowledge in the Dubai real estate market and understand the needs of Pakistani investors, thanks to our branches in Pakistan and the UK. Hence A&T is an ideal choice for those willing to buy property in Dubai from Karachi, Pakistan.
- Reminder: RERA is your true companion
This is the most important step! Do everything with regards to RERA regulations. Always make sure that the chosen real estate agency has RERA registration. If they are not registered with RERA, they are not legally allowed to trade, which could cost you a world.
- Understand legal requirements.
The next step involves understanding the legal requirements and procedures involved and believe us, it is the most crucial step of the whole buying procedure. Make sure you have a transparent knowledge of the legal requirements, including but not limited to visa regulations and property registration. Your selected real estate agency can help you with this step by providing all the important insights about the laws and regulations.
- Arrange financing and Explore Mortgage Options:
Once you are done with the step of finding the ideal property you want to buy, arrange financing. There are several banks and financial institutions in Dubai that offer mortgage options to investors. Compare interest rates and terms to find the best option for you.
- Complete the Transaction
Once you have arranged mortgage, you can complete the transaction. This involves paying the deposit and signing the sales contract. Make sure you have a lawyer review the contract before signing.
BENEFITS OF BUYING PROPERTY IN DUBAI FOR PAKISTANIS
Here are five major benefits of buying property in Dubai:
- Current economic crisis in Pakistan:
The current economic situation in Pakistan is far from ideal with inflation touching the sky and the currency devaluing rapidly. This has led many investors to look for investment opportunities outside the country. Dubai offers a stable and growing economy, making it an attractive investment option for Pakistanis.
The recent hike in the exchange rate between the Emirati Dirham (AED) and the Pakistani Rupee (PKR) has made Dubai even more ideal for Pakistanis. This hike makes it the perfect time to invest in property in Dubai. For detailed insights about the potential of investing in Dubai after this hike, click here.
- Competitive property prices
Dubai offers competitive property prices as compared to other major cities, despite being the global business hub. This situation makes Dubai attractive option for investors looking to buy property at a budget friendly price.
- High rental yields
Dubai offers high rental yields, making it a great option for investors looking to generate income from their property. Due to the Emirate’s thriving tourism industry and growing expat population, there is always demand for rental properties.
- No tax
Dubai’s tax-free policies make it an attractive investment option for Pakistani investors. There is no income tax, property tax or capital gains tax making it a highly lucrative investment destination.
BUY PROPERTY IN DUBAI AND GET RESIDENCY:
Dubai Golden Visa, also known as the Golden Visa UAE, is a long-term residency permit that allows foreign real estate investors to live and work in Dubai. This golden visa is the golden chance for Pakistanis willing to buy property in Dubai as it is valid for up to 10 years and can be renewed, providing the freedom for those who want to invest, work or start a business in Dubai. The cherry on the top is that the golden visa also allows you to even sponsor your family members to come and live in Dubai.
For detailed information, benefits and eligibility criteria of Dubai Golden visa, click here.
For Pakistanis, investing in Dubai’s property market has recently become attractive, especially with the current economic crisis and fluctuating exchange rates. Aeon & Trisl understands that the whole procedure to buy property in Dubai can be a bit complicated, especially when it comes to understanding the legal requirements. That’s why we’ve put together this guide to help Pakistani investors who are interested to buy property in Dubai from Karachi, Pakistan. By following these simple guidelines, you can make a prudent decision without any hesitation.