Bullet-Point Property: Dubai No. 60

To all my readers, I wish you a wonderful year ahead

On January 1, 2018, the UAE implemented a Valued Added Tax (VAT) at the rate of 5% on selected goods and services. 

Read how it affects real estate here 

We are all having to quickly learn what is exempt, what is zero-rated, when we need to add VAT or when we must pay, next step is how we can claim a refund, but we have a few months to learn that one. 

The UAE remains a predominately Tax-Free country with zero Income Tax, zero capital gains, zero inheritance tax and zero corporation tax (except for oil and gas entities and some banks), so a 5% tax is unlikely to have a dramatic effecton the way we spend our money. 

This week’s meetings and discussions have included the following

• Developers are always seeking innovative ways to attract clients, andmany investors are looking for a combination of low-cost fully managed properties that have excellent payment plans and provide guaranteed rental yields. One developer is offering a 10-year interest free payment plan with a guaranteed net yield of 6% per annum on the following starting prices – studios at AED 559k, one bed at AED 739k and two beds at AED 874k –you only need to find 40% of the price and the developer will do the rest? See the brochure here

• Emaar South saw the first release of the year with some exceptionally well-priced three and four bedroom independent Villas in their Golf Links gated community.  The three-bed villas start at AED 2.27m and four beds at AED 2.8m – pay 50% during construction, 10% on completion in May 2020 and the remaining over 18 months post-handover.

• Manazel Al Khor on the Creek is a ready to move in property, and the developer has announced a limited time offer until the 15.01.2018 of, a 4% DLD fee waiver, five years zero service fees and a 50% post-handoverpayment plan. One bed from AED 1.6m to 2.17 m, two beds from AED 3.19 m to 3.3m, three beds from AED 3.6m – 5.5m and four beds from AED 5.8m to 6.45m

• Emaar has sold almost all of their Townhouses at Maple in Dubai Hills, but occasionally they release a few of these popular homes. This week we saw two houses close to the park offered at AED 2.3m on a post-handoverpayment plan. If you let me know that you have an interest then I can call next time there are any to offer. If you don’t know about Dubai Hills then contact me so I can send you a brief overview of this community that is an upgraded version and combination of the Springs, Meadows, Greens and Emirates Hills plus it will be home to the Dubai Hills Mall

• My list of top recommendations for those searching for an apartment in Dubai that is of the highest quality and located at the centre of the City will always include DT1 – its often said that you have to like what you sell and I tend to follow that rule. However, I love this New York Style property, and I really want to live there when its completed in 2019. The developers are offering a 4% DLD waiver for a limited time which is a little sweetener on an already excellent purchase. One beds at circa AED 2m, two beds at AED 2.9m and three beds at AED 4.7m. It’s a relatively small building so don’t miss out on the limited availability.

• You cannot escape the massive marketing activity in Dubai for  Victoria in Meydan which is 10 minutes from Downtown and adjacent to the Dubai Hills Estate; I visited the site yesterday and took some photographs that you can now scroll through on Instagram -  The developer is planning "to offer residents a taste of the unmatchable British lifestyle" The apartment sizes certainly remind me of London but not the prices, studios selling for at least AED 466k for 358 sq. ft. inc. a balcony, the one beds start at AED 698k for 523 sq. ft. and the two beds will start at AED 877k for just 661 sq. ft inc balcony all on a 50/50% payment plan for handover in less than two years time. 

This week’s featured listings are here.

Are you hoping to find a quality property that is already tenanted and providing an assured income?

The owner of this large two bedroom apartment has reduced the price for a quick sale - now has the lowest price per sq. ft. of any property in this popular building- UNDER OFFER

We also have a rental department and they have just listed this fully upgraded 4-bed townhouse in Arabian Ranches - RENTED

It's rare to find someone selling a one bedroom apartment in this building

Will this be the best building in Dubai Marina? I think so. 

A high-quality one-bed apartment in JVC for a very low price that will provide a substantial rental yield when its ready later this year
 

Some of our other properties for sale.

Thank you for reading this far and I am sending my very best wishes to you and your family for 2018. 

I look forward to seeing you very soon

All the very best