Abide to”W Capital” advice–5 basic tips for a successful real estate investment
Dubai, United Arab Emirates
Thursday 14 December 2023
W Capital, a Dubai based real estate brokerage, provided 5 basic tips for real estate investors for successful real estate investments in the Emirate of Dubai.
“The process of purchasing a property is an essential commitment in general, but a fruitful deal is always subject to several procedures in order to achieve thegoals of the investor or buyer,” said Walid Al Zarooni, W Capital CEO.
Al Zaroonisaid that W Capital developed 5 important tips that help investors avoid falling into any possible manipulation by some real estate companies.
Tip one: Know the realistic prices of the target property.
The investor is advised to be more careful when exploring the price range of the property, hich must be in line with range traded in the region, as some developers exaggerate the pricing in some areas, such as “Jumeirah Village Circle”, where the price of a studio starts at Dhs550.000. But some developers’ ask price of a studio in this area may exceedDhs750.000.
Tip two: Verify the repayment period
Walid Al Zarooni said that some developers are marketing to sell their properties based on a payment plan of up to 7 years, but in return they exaggerate the price of the property, which incurs great burdens on the buyer, so such a deal is not in his interest.
Tip three: Check the property well
The investors are advised tocheck and investigate sufficiently and carefully before purchasing a property. That means checking the property personally and inspecting it meticulously, or ask for help from one of the real estate brokers they trust or someone who is honest and well-known for his experience. The buyer is advised not to trust any other party because real estate investment in Dubai is a serious deal with high cost some times. It is expensive.
Tip Four: Make sure of the ads data
Investors are advised to pay attention to real estate advertisements and scrutinize them sufficiently. Don’t be fooled by rumors so as not to fall victim to fraud. Some advertisements are contrary to the truth, whether in the specifications of the property prices, or by promotion tips linked to the deal such as free touring trips, once you purchase a property from a specific company. A customer may be attracted by advertisements on social media, to a specific property, but is surprised when going into the details to find that the advertisement is not true in all. That may give wrong impression.
In order for the investor to stay away from fake advertisements, the Dubai Land Department issued, through the Real Estate Regulatory Agency, a circular confirming the start of implementation of the new “Madmoon” electronic service within the “Trakheesi” system, which consists of issuing a quick response code (QR Code) for any real estate advertising permit issued through the system. The aim is governing real estate advertisements as part of their efforts to develop and modernize real estate governance procedures and increase investor confidence.
Tip Five: Hire a lawyer who is familiar with real estate laws
It is necessary to hire a lawyer who is familiar with real estate laws in Dubai, who is responsible for reviewing the contracts, explaining their terms to the client, and clarifying any ambiguous points, in a way that guarantees the rights of all parties concerned.
The help of a lawyer will save the buyer having to know many papers and documents in this regard, such as the initial reservation voucher and the purchase and sale contract, which are documents of great importance, so the investor must consult a legal expert before signing any of these papers.
Real estate disputes may bea sort of the most complex issues, as they require full knowledge of the laws and regulations that govern real estate relations and related disputes. Therefore, asking the help of a real estate lawyer in Dubai will spare the investor a lot of trouble as well as financial and legal risks.
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About “W Capital”:
“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.
Since its inception, the company has sold over AED 200 million of properties to major developers.
About Walid Al Zarooni:
Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.
Al Zarooni is one of the first experts to harness social media to raise the public awareness about real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as ” Instagram “,“ Snapchat ” and “Twitter”, on which he is very active.