Although we are going through a period of crisis, there are also many Romanians who invest massively in real estate during these months and buy luxury apartments in Dubai at prices that are hard to imagine.
The crisis is not felt by everyone and it seems to have become a real fashion for rich Romanians to buy homes in Dubai.
Only in the first 7 months of this year, more than 100 apartments were purchased in the country in the blocks of one developer in Dubai. Romanians paid over 75 million euros for these apartments.
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The number of residential buildings put into operation is increasing, at the expense of which the dwellings in them and their size are shrinking
For example, a 2-room apartment in a new property complex, close to the beach, costs just over 420,000 euros, and a 3-room apartment can be bought for 540,000 euros. The apartments are furnished and equipped at a luxury level.
In fact, Dubai is experiencing a boom in the real estate market. Last month was a real record. More than 7,000 apartments were sold with a total transaction value of €5.6 billion in July alone.
Why do Romanians buy houses in the emirate?
Because there the fees and taxes are 0%, and the apartments are bought with only a 2% down payment and to be paid over 5 years, writes Euronews Romania.
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The absence of annual fees and taxes, the ability to easily obtain financing directly from Dubai banks, and the fact that you can obtain residency for yourself and your relatives up to the first knee are the main advantages of investing in the United Arab Emirates.