Properties for sale in Abu Dhabi
The density of Abu Dhabi's high-rise office, hotel and apartment buildings gives the impression that there is no further room for growth. However, the current population of approximately 1.8m is expected to rise in coming years due to a significant expansion of the City's area.
Dating back only as far as the 60s the modern city of Abu Dhabi is still in relative infancy when it comes to the development of a city's character. Designed using a grid pattern the island has seen considerable construction along its' coastline, in particular tall buildings of 20 storeys or more. Al Ain, an inland oasis city at the foot of Jebel Hafeet, enjoys a more comfortable climate than Abu Dhabi and boasts no tall buildings exceeding 6 storeys. Properties in Al Ain are often described as 'palatial'.
Abu Dhabi has been described as a 'landlord's paradise'. There is a severe shortage of rental property although planned and under-construction developments will ease this situation in time. Currently Abu Dhabi has poor public transport and no mass transit system. Gulf Co-operation Council nationals are permitted to buy property anywhere. However, this was not the case for non-nationals until very recently. They were restricted to the three development areas of Al Raha Beach, Saadiyat Island and Al Reem. As such only off-plan purchases were available.
The rules relating to the owbership of property by foreign investors have recently changed. Now a warm welcome is offered and comes with the right to buy any leasehold property anywhere in the emirate
The ownership of real estate does not give one the right of permanent residence. However, tourist visas are readily granted. A 10% deposit is required to secure a property. There is a registration fee of 2% for a property sale and 1* for a lease. Corporation tax, income tax or capital gains taxes are not levied by Abu Dhabi. Prior to the worldwide credit crisis (2008) mortgages were available up to 90% of the value of the property. Enquiries should be made to ascertain the current maximum. Service charges for the property are required to be paid annually, and in advance.
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UAE Real Estate News
||Mortgage limits on hold in UAE|
Official plans to cap mortgage funds for overseas real estate buyers in the United Arab Emirates have been postponed until further notice.
||Saudi approves new mortgage rules|
A momentous decision by the government of Saudi Arabia is expected to provide a welcome boost for the financial industry throughout the nation.
||UAE real estate market still in doldrums|
Sales forecasts for property in Dubai and across the United Arab Emirates are expected to be rather mooted for 2012 according several property experts.
||Construction continues to slow in UAE|
The residential real estate sectors across the United Arab Emirates has yet to show any real signs of recovery as more developments are either delayed or cancelled due to financing difficulties.
||Extended visa option for Dubai property investors|
Overseas Property investors are once again being courted by the United Arab Emirates with the extension of the residency visa scheme currently at six months to a term of three years for those foreigners buying property in the Emirates.
||Getting tough in the UAE|
Real estate in the UAE is in need of a boost and many professionals within the industry are calling for some harsh measures to flush the system clean and to get the recovery underway.
||Upwards and onwards for Cityscape Abu Dhabi|
Last year the Dubai Cityscape, a landmark exhibition of property in Dubai, was a shadow of its former self. But the exhibition currently underway in Abu Dhabi has a feeling of optimism for real estate in the UAE.
||Abu Dhabi residential sector gets boost|
With the National bank of Abu Dhabi predicting a shortfall of 20 000 homes by the end of 2010 just a few weeks ago, it may come as no surprise that one developer has seen & seized upon the gap in real estate in the UAE.
||Opportunities to invest improve in UAE|
Free zone real estate in the UAE, for example the Free Zone property in Dubai, has given foreign investors the opportunity to own outright certain sectors of land and property that traditionally were retained by the sovereign state.
||Market scales balancing out in UAE|
The value of real estate in the UAE, particularly the disparity between property in Dubai and property for sale in Abu Dhabi, is becoming ever more blurred.
||Women to get a fairer deal in the UAE|
Inherited real estate in the UAE is currently subject to discriminatory legislation according to the Federal National Council, and plans are afoot to address the issue.
||Lean mean market in Abu Dhabi|
Of all real estate in the UAE, that of Abu Dhabi has always appeared to strike a healthy balance between supply and demand, and recent interest rate cuts are likely to push demand higher.
||Abu Dhabi Cityscape will bring fresh ideas|
In April, Abu Dhabi will be hosting its version of the Cityscape conference, during which industry professionals this year will be holding an open debate about the state of real estate in the UAE.
||Low interest rates in Abu Dhabi raise interest rates|
Dubai’s more financially secure neighbour, Abu Dhabi, is becoming increasingly appealing to investors with yet another incentive on the way to make real estate in the UAE even more attractive.
||Quality office space to lift Abu Dhabi|
Office property in Dubai and Abu Dhabi has experienced mixed temperatures during the cooling of the economic markets, with Abu Dhabi’s measured approach to supply doing it more harm than good.
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