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Dubai opts To Be Transparent to Attract More Property Investors

After the launch of the official residential index, Dubai quickly scaled up the Global Real Estate Transparency Index. In the MENA region, the property markets of Abu Dhabi and Dubai are the most transparent, as reported by JLL’s Global Real Estate Transparency Index.

These factors are crucial in determining the general Dubai real estate investment viability of a city and is evident despite the worries of over-supply and the major blow that the economy has gotten because of the COVID-19 crisis.

Dubai was recognized because of its geographical and economical appeal. The city climbed to 36th position, up from 33rd, previously. In partnership with the private sector, the Dubai Land Department created the official residential transaction-based index called Mo’asher, in 2019. This initiative is the main factor to Dubai’s ranking.

Mo’asher is a crucial step for the Emirate as this means the onset of a single index that all market participants will use. Abu Dhabi topped the list as the best performer in the world, showing a positive outlook of the country’s level of transparency and future investment projections.

Numerous initiatives were introduced. For instance, The Abu Dhabi Global Market (ADGM), which is a financial free zone, and the UAE Ministry of Climate Change and Environment to initiate and nurture sustainable policies in the country, also had a considerable impact on the ranking. The policies cover various aspects of investment and financial services to enhance socio-economic benefits.

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Move to Dubai with These Real Choice Real Estate Dubai Hacks

If you asked those who have been residents of Dubai what they wished they knew before starting life in the emirates, is getting prepared beforehand.

Luckily, unlike before, today there is a lot of information out there about Dubai and the way of life here. And so, you can equip yourself with information that will make your transition into this beautiful Arabian sea, a smooth sail.

But first things first…

If you have just landed or have done a bit of research, you will concur that proper prices have hiked. In other words, the cost of living is higher than in the recent past.

This critical factor alone makes it tough to find the perfect Dubai real estate. So, in this article, we will discuss ways to curb the stress of migrating to Dubai with our key money and time-saving suggestions.

Visa Application- Are You Prepared?
Most of those who jet into the city come while their visa application is in process. However, if you are coming to look for a job once you arrive, for labor card and employment applications, your educational credentials must be attested in your home country’s foreign affairs ministry, a lawyer, and the UAE Embassy in your home country.

It is cost-effective, quicker, and faster to get done with this prior to coming to the UAE. If time isn’t on your side, and you can’t find anyone to help you out, bring your certificate- there are companies in Dubai that can help you with attestation but at a fee.

Rent a Real Estate Via a Trusted Broker
Truthfully, there have been a handful of cases where people have had bad experiences with Dubai real estate. Well, these are rare cases and very unusual to occur. In fact, the Dubai real estate market is governed by a set of stringent rules and regulations to ensure the safety of every stakeholder.

Nonetheless, finding the right Dubai property with the help of a credible real estate Dubai broker like Real Choice Real Estate Dubai company will give you an inner piece that your contract is lawful.

Budget to Pay in Advance
As mentioned, Dubai property prices are on the rise. As a result, most landlords are now requesting tenants for cheques in advance. If possible, prepare to pay at least six months’ rent once you arrive in the country. Keep in mind that most landlords charge more to those who pay one post-dated cheque.

Prepare for a Ship Shape
When moving with luggage and items to a foreign country, you normally would have to make either of the following choices: Sell or donate your belongings or ship to the new place.

If you opt for the former, make sure that you use a credible international shipping company that will move your items to Dubai smoothly. Make sure to follow up with the procedure and payment processes.