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Buying a Penthouse in Abu Dhabi: A Basic Guide

Investing in real estate in Abu Dhabi is an excellent decision for a variety of reasons. First of all, Abu Dhabi is one of the most prosperous emirates in the Middle East. Some of the world’s largest companies have their official headquarters in Abu Dhabi. On top of that, it is home to many of the world’s leading brands and the quality of life here is second to none. However, as you can well imagine, the property values in Abu Dhabi are sky-high. Not everyone is able to afford an apartment, much less a penthouse, in this gorgeous location.

Therefore, if you have the funds available to buy property in Abu Dhabi, you should definitely consider making the move. It would be a sound investment and could pay dividends for years to come. However, due to the potential for profit, there are many frauds here as well. A prudent buyer will always carry out due diligence and confirm the legal title to the property before investing his or her money into any piece of real estate. If you are interested in buying property in Abu Dhabi, here are some important pieces of advice that will make it much easier for you.

Consider Your Options

Abu Dhabi is a pretty big place with lots to choose from. There are established neighbourhoods and there are upcoming construction projects that will be ready in the next few years. If you are interested in buying Abu Dhabi penthouses, you need to first decide whether you would like to make an investment that will pay off returns in the immediate future or if you would like to hold on to the property for a while before cashing on it. Many people also look for penthouses where they can lay down roots and settle. If that’s the case, you have to look for a penthouse that’s situated close to your place of work and in a decent neighbourhood where your kids can go to school.

You should get in touch with a real estate agent within a particular neighbourhood that you want to move into and discuss your options with the real estate agent. The agent will take down your preferences, such as the kind of penthouse that you are looking for, and will then show you a variety of different options that are available for sale.

Pricing Negotiations

There’s usually a considerable amount of wiggle room when it comes to buying a penthouse in Abu Dhabi. However, don’t expect the prices to fall by a considerable margin. Most real estate companies generally offer pretty decent financing options as well so if you don’t want to pay the whole amount in a lump sum, you have the option of financing the penthouse over a period of several years. The payment terms will be drawn up depending upon the amount you agree to pay as a down payment and the monthly mortgage that you are comfortable with paying. Your real estate agent will help you get the best terms possible.

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