|
•
How do I list my property on
VR Immobiliare.com?
Quick & Easy. We
have made it so simple for you with the provision
for quick listing on the home page. Our Listing
Coordinator will call you with in 24hours to ask
for more details on your listing. Or you can
register for free membership on VR Immobiliare as
Agents. Only registered agents can modify the
details of listing at any given time.
• What are the listing
options available in
VR Immobiliare.com?
VR Immobiliare.com offers a
free & paid listing service for all properties
contained in this web site. All listings are subject to review
before publication on the website.
• Do i need to pay to
list my property here?
Property listings are free of
charge on
VR Immobiliare.com. Simply log in to your
account and list your property for free. However
we do charge a nominal fee for those who wants to
list their properties on our Home Page & Sale
home page. The advantage of listing in these
section makes more viewable (even with out
performing search) and you can close the deal
faster. Paid listings for UAE properties start
from USD 50 for 1 month and USD 75 for 2 months.
• Does listing my
property mean it is ready for public
viewing?
Listing is the
first step to bring forward potential buyers for
your property. Once you have listed your property,
you can preview how your property would appear on
our website. Upon verification of details, your
property will be uploaded online within 24 hours.
All paid listings will be activated upon clearance
of payment.
• If any Payment for
Listing, What is the mode of
payment?
You can use any
credit card issued from anywhere in the world,
with the "VISA" or "MasterCard" Logo in it, to
activate your listing in our site. Or you can
transfer funds by Western Union.
• Is my online
transaction secure?
Yes.
Any online transaction through
VR Immobiliare.com is 100%
secure. We offer the best gateway service (with
high encryption) in the e-commerce industry. The
card details are entered in the gateway server and
we don't store your card details.
• How long does it
take to publish my property?
Immediately after your payment is
approved, you will be notified in the email
address specified by you informing the activation
of your property.
• Who will see my
properties if I list them at
VR Immobiliare.com?
VR Immobiliare.com
being the largest real estate portal in Italy,
specialized in Dubai real estate market and is watched regularly by potential
investors from many countries across the
world. Nearly 100,000 visitors around the globe
see our pages every month. Our unique investors
and home buyers visiting pages very frequently and
so your property listing will receive the maximum
exposure.
• What type of
property can I list
here?
It can be
Apartments, Condominiums, Townhouses,
manufacturing homes, mansions, Hotels, Motels,
Resorts, Villas, Restaurants, office spaces &
Commercial properties.
• How will the
customer contact me?
On
listing your property at
VR Immobiliare.com, the
interested buyers will contact you through
email/phone.
• Will
VR Immobiliare.com
charge any brokerage amount for any real estate
transaction?
Yes. We do
collect a very reasonable from Seller as well as
Buyer for each transaction.
• Does
VR Immobiliare.com
guarantee the sale of
properties?
VR Immobiliare.com
does not guarantee the sale and purchase of the
listed properties. However we'll try our best to
sell your unit, because we believe in customer
satisfaction.
|
LEGAL & SALES RELATED FAQ’S: |
HOW DO I BUY AN APARTMENT IN DUBAI CITY?
Simply
complete a reservation form and pay a 10% booking fee to
hold the property, and we will raise e a contract. Once you
have signed this you are the owner of your new home!
DO I GET THE TITLE DEEDS?
Yes, the new Dubai property law now
enables locals and foreigners to own and register property
in the Dubai Lands and property department. You will get the
deeds after the property has been completed. If, however,
you wish to resell the property before it is built or any
time up to completion, then all you need is your original
contract with the developer.
HOW CAN I MAXIMISE RENTAL RETURNS?
The different developers can manage rentals on
your property once you have purchased it. There are 30 to 40
new companies setting up businesses on a daily basis,
and all their employees need somewhere to live. You can
expect a 52 week rental in most Dubai residential
properties; the Champions Tower apartments are also aimed at
the holiday rental market and keep in mind there will be
year-round sporting events.
WHEN CAN I RE-SELL & WHAT FEES ARE
PAYABLE?
If need be, you
can re-sell even before that, since demand is more than
supply. There is a 2% transfer frees payable to the
developer and 2% to the Land department for transfer of
ownership (if you resell after handover only). These fees
are normally paid by the buyer.
WHAT ARE THE PAYMENT TERMS?
•
10% on
Booking
•
10% every
Three Months
•
Complete
amount on possession
•
A 4% cash
discount is applicable for outright purchase (100% cash
down)
IF I GIVE PAYMENTS REGULARLY, IS THERE A
REWARD?
Sure! You get a credit at the end of
the last installment, generally from 1 to 2% of the total
amount.
PROJECT RELATED FAQ’S:
WHAT APPLIANCES DO YOU PROVIDE WITH THE
APARTMENT?
We can offer household appliances at
wholesale prices from our contacts in the market.
DO THE APARTMENTS HAVE CENTRAL AIR
CONDITIONING?
Yes. All apartments are centrally
air-conditioned
ARE THERE SECURITY SYSTEMS IN
BUILDING IN DUBAI?
Yes state-of-the art security systems
will be deployed.
IS THE PROPERTIES FREEHOLD PROJECT OR LEASEHOLD
There are two different type of project:
freehold properties and 99 years leasehold, and
will convert to freehold as soon as the law allows.
ARE MODIFICATIONS ALLOWED?
The local municipal laws are strict and
usually do not allow modifications to the floor plans.
However, for the rare exception, you may need to check with
the apartment owners association.
GENERAL FAQ’S:
SHOULD
I BUY DUBAI PROPERTY NOW OR WAIT?
This
is a dilemma for many potential buyers. Caution suggests a
wait-and-see approach might deliver a bargain in a market
correction. Many people who did not buy Dubai property two
years ago are already feeling sorry for not investing then.
Now
the question is: Have prices now leveled off? Or will they
go up further? There seems no reason on to believe e that prices
will stop rising, although perhaps not as rapidly as in the
past two years. The argument for waiting longer only holds
if there is a market correction coming in the near future.
The
problem with real estate downturns is that they can be
elusive. They do happen eventually, but that could be five
or ten years away – particularly for a carefully planned economy like Dubai. Moreover, in that time
somebody living in Dubai will have paid a fortune in rent as
they definitely are rising every year. Indeed, this rent
could have been much better spent buying property.
However, with the outlook for equities and bonds not too
bright for 2005, it is hardly surprising that many choose
bricks-and-mortar as a solid investment. House prices are
also still at very reasonable levels by international
standards. The Champions Tower, for instance, presently sell
for around $170 per square foot. A similar home in a top
sports complex in London would be around 3 or 4 times as
much.
THERE
IS LARGE SCALE CONSTRUCTION HAPPENING IN DUBAI. WILL YOU NOT
REACH SATURATION LEVELS? WILL THERE NOT BE OVER SUPPLY??
In fact,
Middle East Economic Digest in a recent report (Khaleej
Times, published on August 14, 2005) says that demand of
houses in Dubai is CRITICALLY LOW and the number of flats
needed by 2010 will hit 320,000. This means 64,000 flats
must be built each year. We are well behind this!
Why is
this so?? We have to realize that the growth we are seeing
in Dubai has not happened by accident. It is a carefully
researched, well planned activity with a long-term vision.
You may have observed if there is a free zone coming up,
like DMC, DIC, a residential area is planned like Greens and
Dubai Marina, if there are manufacturing units coming up
another residential area is planned. Same thing for business
ventures, leisure facilities, shopping malls etc.
As
well, the government is releasing very limited land for
development. This has a major implication on the real estate
market. Dubai is currently sitting on a huge budget surplus.
Additional federal revenues from premium oil prices allow
the UAE government to limit the sale of land. Its focus is
clearly not to ‘add to already good revenues’ by sale of
more land, but in building investors confidence in current
projects and improving infrastructure.
Also
keep in mind that the population of UAE is growing
enormously. 30 to 40 companies register with the Dubai
Chamber of Commerce every day! Just a few months back a
population of 3.5 million has swollen to 4.6 million in no
time. All these people need homes to live in.
IS COST OF LIVING IN DUBAI EXPENSIVE?
-
Not by international standards. Dubai Real Estate
ownership only began 3 years ago. For world-class
infrastructure and facilities it was very much under
priced so it is undergoing correction only now.
-
Here is the latest comparison on how Dubai compares with
other markets:
·
(a) Worldwide cost of living
view the details by:
Mercer_costs_of_living 2005-2006
WHO
ARE THE OWNERS/ PROMOTERS OF DUBAI SPORTS CITY?
Dubai
Sports City is a Joint Venture between Bukhatir Group,
Falaknaz and Zarooni groups
BUT-
SPORTS CITY IS FOR SPORTS….WHY LIVE IN A SPORTS CITY?
May I
ask you if you are intending to buy this because you want to
live there or are you thinking of investing?
Investing:
-
Real Estate sector will move from 65 Billion Dirhams to
85 Billion Dirhams within 5 years
-
Average of 40% return on investment annually
-
New Dubai (the area where Champions Tower is coming up,
is the fastest growing leisure and business district in
the middle east
-
To
name a few huge names such as Manchester United, Butch
Harmon Golf Academy, David Lloyd Tennis Academy, ICC
cricket academy are all coming
-
It
will be the sports & leisure centre of Middle East
hosting one international event or another- meaning a
lot of business all year round
-
Dubai Disney Land
-
Excellent renting options: short term rented apartment
for holiday makers/ long term rentals for people working
in Sports city etc.
Living
there:
-
Most prestigious address with three reputed schools, spa
and fitness centers, walking tracks, restaurants,
shopping malls, gardens and recreation facilities
-
Superior design by world renowned German architects.
Comfortable, with all modern amenities
-
Unmatched Quality of life: 30% of community consists of
construction (buildings and stadiums), and 70% consists
of landscaping and open areas. Where else in the
developed world can you find this??
-
Very safe community. Great place to raise your children
FOR
INTERNATIONAL CLIENTS
WHAT’S
DUBAI REALLY LIKE?
Dubai
is a liberal, pro-Western oil rich Gulf state which is fast
becoming a playground for the rich and famous and a major
financial services centre. Dubai has a rich trading heritage
and is the commercial hub of the Middle East. The lifestyle
in Dubai is truly fabulous. World class resorts, beaches and
sporting facilities (including golf, tennis, horse racing
and water sports)
WHAT’S
DIFFERENT ABOUT DUBAI?
Dubai
is not a part of any information exchange agreement (such as
the EU Savings Tax Directive) and therefore information on
bank accounts in Dubai remains strictly private. Remember,
Dubai has NO TAXES on incomes, profits, capital gains,
inheritances, dividends or wealth. There are no withholding
taxes as well.
IS THE
DIRHAM CURRENCY FAVOURABLE?
Since
the Dirham is pegged to the US Dollar, the $ can buy more
real estate here than elsewhere in the world. Likewise, the
recent strength of the Euro Vs the $ means by investing now,
a 10 to 15% ready equity is automatically gained!
WHY IS
THERE SO LITTLE ‘RED TAPE’ WHEN BUYING PROPERTY IN DUBAI?
For
the same reasons as above. Dubai is all about trading and
the country wants your business!
When you buy a property in
Dubai you sign a contract with the developer and this is
your
binding documentation.
There are no solicitor’s fees.
No stamp duty and certainly no tax.
You can then apply for a
residency visa which mean s you can open a bank account and
ultimately tra de there tax free!
DO I
HAVE TO COME TO DUBAI TO BUY PROPERTY?
You do
not have to come to Dubai. A lawyer or an authorized person
can buy on your behalf.
However, we encourage clients to
come since it is a very pleasant experience!
HOW CAN I TRUST THE DEVELOPER?
There
are not too many developers as they have to undergo a strict
‘qualifying process’. Each of them is overseen by the
government and therefore do not have risks attached.
We have
already had a successful run with Champions Tower 1.
Besides, the local regulations are tough- the developer has
to deposit 20% of the project costs with the government to secure
the buyers.
WHAT BUILDING QUALITY STANDARD CAN I EXPECT?
All
builders are subject to very strict building regulations,
mostly British Standards and above
CAN I
EXPECT GOOD RENTAL INCOME?
Dubai
Sports city is really a ‘city within a city’.
World-class Stadiums, upgraded facilities (recently, the soccer stadium
capacity has been increased from 35,000 from 35.000 to 60,000), schools,
hotels, academies etc….all mean a ‘ready rental market’.
Apart from the World class academies, hotels and all their
employees need somewhere to live.
You
could also target the holiday rental market.
IS
THERE ANY EXTENDED PAYMENT FACILITY AVAILABLE?
Although we prefer that our buyers buy their property before
the construction completes, we do have extended payment
options of up to 5 years. Please contact us for details.
Other
Questions and Answers:
Dubai Guide for investors
| 
