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Buying Real Estate in Abu Dhabi

If you are considering buying real estate in Abu Dhabi, there are several things you should consider. In this article, we'll talk about the rising prices of property, how the demand for real estate is expected to increase over the coming years, and the regulations on foreign ownership. These regulations will be essential for you to make the best decisions regarding your purchase. We'll also touch on the importance of researching property in the UAE beforehand. This article was written by experts and should be considered an excellent starting point for your search. Read more on Rent Raha Beach.

Property prices in Abu Dhabi have risen in Q1

Real estate in Abu Dhabi has been steadily rising in the last quarter, thanks to the government's efforts to support the nation's 2020 vision. The free zone policy, which allows foreign ownership of 100% of properties, is contributing to this growth. Other factors include the green visa program for investment, and the step-change in infrastructure and living conditions. Consequently, demand for property in the city is also increasing.

The influx of foreign investment has also contributed to this rise, which has led to higher prices in some areas. Investor interest in Abu Dhabi has been sparked by the availability of luxury properties in well-integrated island communities. Abu Dhabi has also been attracting more buyers, with favourable mortgage rates and lucrative rental yields. This has pushed property prices to new records. However, despite the heightened demand for Abu Dhabi property, prices remain reasonable for those with limited financial resources.

Demand for property is expected to grow over the next few years

The UAE is one of the fastest-growing real estate markets in the world. In the third quarter, around 3.5 million buyer-seller negotiations were registered. In the next few years, demand is expected to reach seventy thousand units. Meanwhile, around fifty thousand units will be delivered, leaving a huge gap between supply and demand. Regardless of the gap, the UAE's real estate market is poised for continued growth.

The UAE's economy is currently experiencing robust growth with an index of 53.3 in the third quarter. The economy is also benefiting from government initiatives such as extending residency permits to remote workers and expanding the 10-year golden visa program. The government's initiatives are driving demand, and a rise in property prices is likely to be sustainable in the long term. As a result, developers expect to deliver 50,000 to 60,000 units next year. The UAE has been attracting international investors and companies for several years, and the current economic climate is expected to continue boosting property prices in the country.

Regulations for foreigners to own property in Abu Dhabi

Until recently, there was no restriction on foreign nationals or entities owning certain property rights in the Emirate. Foreign nationals can own freehold interest in residential units, offices, villas, usufruct, and long-term leases. These are all allowed in the city's investment zones, which include Al Raha Beach, Reem Island, and Saadiyat Island. Outside of these zones, the authorities can grant ownership of principal and accessory real property rights.

The new laws also allow foreigners to buy freehold property in investment zones. These laws are similar to those in Dubai, where foreigners can buy freehold properties. Abu Dhabi policymakers hope the new regulations will increase job creation and boost demand for real estate in the city. Therefore, the government is working to ease the restrictions on foreign ownership of residential property. However, many property investors remain unsure of how the law will impact their investment decisions.

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