Part of the Bulgarians increasingly began to recognize exotic destinations as a profitable place for investment. An example of this is Dubai. The reason why the emirate is attractive to residents is the good return, which can reach up to 8%. But how does the whole process go from liking the property to getting the key?
„Working with our clients begins long before they go on site. The time of consultations and the search for the right property is different for each client. It can vary from a few days to a few months,” Paula Kubicius says about the largest real estate website imot.bg – Mladenova, sales manager of LUXIMMO DUBAI.
„After we have found several properties suitable for the client's goals, meeting his search criteria and budget, most often the client takes a trip. When he decides to go to a place, we choose the date of the trip, we can help with the selection of the hotel, and we determine the date on which our Bulgarian partner will show the properties to the client, she adds.
In the event that during the inspections the client likes a given property, seizes it and proceeds to sign a contract and fulfill the agreed conditions. The local partner assists customers in opening a bank account, submitting documents for Emirates ID, Golden Visa and more.
If the customer did not like anything in place, then the search continues until he finds what he dreams of.
„Very often, customers decide to combine the useful with the pleasant, and taking a trip to Dubai, they do it through a travel agency. They book a one-week vacation to see the sights and enjoy the beauty of Dubai, and they spend between 1 and 3 days for sightseeing, Mladenova explains
Most clients prefer to inspect the property before foreclosing on it. “However, we also have clients who have acquired their properties entirely online. In Dubai, everything is digitized and you have the opportunity to sign even the Notarial Act (with a power of attorney), on a video connection. Of course, we accompany our clients to the conclusion of the transaction, preparing the necessary documents and organizing the process,”, adds the broker.
An interesting fact is that if you need additional financing to buy a property in Dubai, you can get a mortgage loan from several Bulgarian banks. “You should bear in mind that for this purpose it is necessary to serve as collateral a property located in Bulgaria. The terms of our banks are definitely better than those of the banks in Dubai, Mladenova says.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE