Investing in the Dubai property market is the dream of every real estate investor out there. If you have set your mind on renting or buying a home in the Dubai, you should first know how much it costs and what are the requirements you need to fulfill.
Dubai is a rapidly evolving city that attracts foreign investors and expats from everywhere in the world. The entire city has a special charm to it, and it has a lot to offer, regardless of your reasons for living there.
Here is the price that you will need to pay back for maintaining a home in the “City of Gold!”
1: Annual Maintenance
As a homeowner in Dubai you can sign up for an annual maintenance contract that will cost you between Dh 1,500 and Dh 6,000, and it will cover plumbing, AC cleaning, servicing for electrical issues and biannual security inspections.
2: Water Tank Cleaning
Water is essential for your Dubai home. You will need to pay an annual fee between Dh 500 and Dh 1,000 for cleaning and servicing one water tank unit.
3: Pest Control
Dubai's humid environment attracts parasites like bedbugs, ants, and cockroaches. You will need to protect your home with professional pest control services that should cost you between 1,500 and Dh 2,000 per year.
4: Repairs and replacements
You will need to pay professional handymen to cover unexpected repairs and replacements on your Dubai property. A local company that specializes in this type of services should cost you as much as Dh 2,500 per year.
5: Home Cleaning
If you don’t get the time to clean your apartment every week, you will need to hire a cleaning service that could come and sanitize your home on a regular basis. You could pay between 20,000 and Dh 40,000 per year per year for professional home cleaning.
6: Gardening
Taking care of a garden involves proper irrigation, trimming and caring for the present vegetation. A professional gardener will charge you an annual fee of around Dh 4,000.
7: Swimming Pool Maintenance
If your property in Dubai has luxury amenities like a swimming pool, the cost of maintaining your home will increase. Swimming pool maintenance in the UAE can cost you anywhere between Dh 20,000 and Dh 30,000 per year.
8: Utilities and Housing Fees
As an owner of a Dubai property, you will need to pay somewhere around Dh 30,000 per year to DEWA, which includes bills for water, electricity and other necessities. You need to also be aware of high reconnection fees that occurs during delayed and missing payments.
9: Property Insurance
Every home on the Dubai property market requires insurance. The cost of insuring your property against floods, earthquakes, fires and other hazardous accidents is between 1,500 and Dh 3,000 per year.