Are you looking for good investment opportunities and thinking that investing in Dubai’s growing real estate market will be a good decision, well you might be onto something. Dubai’s real estate market is booming, with prices increasing each year, and buying a villa might be a good decision to make.
If you want to buy a Dubai house with crypto, you first need to decide what type of villa you want to buy, you also need to study the market, learn how Dubai real estate works and what the best locations are. After that, it would be best to work with a real estate agency, as they will do most of the hard work themselves, such as communicating with the seller, preparing documents, and sorting out other necessary details. After everything is decided and sorted out, you can simply close the purchase, and sit back watching as your investment grows in value as time goes by.
Things to know about buying villa or a house in Dubai with crypto
- Villas are the second largest property type in Dubai real estate market, just after apartments
- When buying a villa, you are buying either a freehold property or leasing a leasehold property for 99 years
- The average price of a villa in Dubai is 4 million AED, which is equivalent to around $1 million
- You can buy Dubai villas with cryptos such as Bitcoin, Ethereum, and USDT
Step by step guide on buying a villa or a house in Dubai with crypto
Buying villas in Dubai with crypto is not an easy decision to make and unlike apartments, where you don’t actually need to do that much research and planning, when buying villas, things tend to get more complicated. Below we will take a look at exactly what steps you need to take in order to come out with a good investment.
Make sure that you want to buy a villa
Owning a villa or a house, especially in Dubai sounds really cool, and perhaps that is one of the strongest deciding factors when someone is thinking about investing in a villa. But if it sounds good, and if you see that many people invest in this type of property, it does not automatically mean that you should also do it.
Investing in Dubai’s real estate market is an overall good decision to make and if you have enough funds to do so, you should absolutely invest. But first, make sure that you are able to afford the upkeep of a villa. Maintaining a house is much different from maintaining an apartment or a penthouse. You will need to hire security, maids, and cleaners, pay much more for utilities, and many other expenses. Because of this, make sure that you can afford to maintain this villa, and if not, then maybe think of buying a flat or an apartment instead.
Decide whether you want a brand-new or second-hand villa
Another factor that needs to be considered when you are looking to buy a Dubai villa that is for sale and can be purchased with crypto, is whether you want to buy a brand new villa straight from the developer, or buy it from someone else. The difference between these two will be the price and the state of the villa. If the villa you are buying has been built a long time ago, it might need some renovations, and you might also want to change some stuff based on your preferences. When buying a brand-new villa, you will get everything in pristine condition, and it might also be easier to make changes to the property.
The final decision has to be made based on the price. Buying a brand-new villa will most likely cost much more than a used one unless you are buying a villa off the plan that has not been built yet. But there is also a possibility that a second-hand one might cost you more, based on the location of these villas; which brings us to our next step.
Study the market and scout locations
The next step to take is to study the market. When you were choosing between first and second-hand villas, you would have learned quite a bit about Dubai’s real estate market, but once you choose which type of villa you want to buy, then you should do some good research into that property type. You should check what the average prices of these properties are and compare them to old prices. This will give you an overview of how the market is growing, and what expectations you should have for future prices.
Also, it would be a good idea to travel to Dubai just so that you can go check out everything for yourself. You can even rent out different villas for a few days, in order to learn more about them in detail. You can compare different locations and different types of villas, and you can even see the difference between first and second-hand properties. By doing so, you will have a complete understanding of Dubai’s real estate market and it would be easier to make the right decision as to which villa is the best to buy with crypto.
Find a real estate agent
This is when things get serious. Once you know what type of property you want to buy and have a bit of an understanding of how Dubai’s real estate market works, you need to look for a real estate agency that will help you find the best possible deal according to your preferences. You can explain to the real estate agents what type of villa or house you are looking for and what preferences you have. The agent will then look at all available properties and send you a list of villas for sale in Dubai with crypto. After which, you can choose whichever house you like the most, and the agent will take care of everything else. These agents will conduct talks with sellers, prepare all necessary documents, and some are even able to help you purchase these villas without you needing to be there in person.
Always make sure that the agency you are working with is legit. Dubai is harsh on laws and punishments but it does not discourage all scammers and there are still some that try to take advantage of investors. Because of this, make sure that the agency has a good history and reputation. A good example of a well-known trustworthy agency is Coin Real Estate, which has been in the real estate market in that area for many years.
Finalize the purchase
Once everything is done and you have decided to buy a Dubai house with crypto and have chosen which house to buy, it is time to finalize the purchase. For this, you will need to make sure that you have a valid passport, as it is the main requirement for buying a villa in Dubai.
Once you provide your agent with your passport, the agent will get started on the paperwork and other formalities. Some agents might require you to be present during the purchase process, as they might need you to sign different documents, while there are some that might not even require you to travel to Dubai, and you can complete the transaction from anywhere in the world.
You should also know that you will need to make a down payment of around 25% of the total cost price in order to finalize this transaction. Other things that need to be mentioned are that if your property is worth more than 1 million AED, which is around $270,000, you can receive a renewable 3-year residence visa, and if it is worth more than 5 million AED, you receive a 5-year residence visa.
Final thoughts on buying villa or a house in Dubai with crypto
If you buy a house in Dubai with crypto, you are most likely making a good investment. With Dubai putting more and more money into the development of the city, property prices are going up each year, as more and more people want to own a house in Dubai. This becomes more apparent when we see that property sale volumes have doubled in the last year, with prices also going up by around 40%. We are not saying that it will increase by 40% each year, but numbers should not be too far from it, making it one of the best investments possible, as there are not that many investment opportunities that have a yearly return of 40%.
On top of being a good investment from a pure investment standpoint, when you own a property in Dubai, you receive many benefits such as a residency visa. You might be asking, why would you need a Dubai residency visa, but if we remember that Dubai has no income tax, it becomes apparent what benefit this visa brings. The main benefit is moving your business there in order to avoid taxes, but you will need additional documents for that.
Frequently asked questions about buying a villa or a house in Dubai with crypto
Absolutely. Investing in Dubai’s real estate market is a good decision to make based on the fact that it has seen astronomical growth in the last few years. Doing this investment with crypto will make transactions much faster, cheaper, and more secure, without the need of involving banks or other financial institutions.
It will depend on the seller and agency you work with. Not every seller will accept the same cryptocurrencies, but there are some cryptos that most do accept. These are Bitcoin, Ethereum, and stablecoins such as USDT.
