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Monday February 19th 2018

Ajman freehold properties – Advantages and Demand

Freehold ownership gives the owner absolute right over land or property. He can build anything (which doesn’t violate the country’s law in different ways), resell to anybody, or rent it on whatever conditions. Unlike most other parts of the sector, not everyone was granted the freehold ownership in UAE sometime ago. Foreigners were only allowed to rent properties, or at most a 99-years leasehold was all they may get. Most investors were reluctant to take a position in UAE real estate back then, given the limited set of benefits they were ready to obtain out of that investment. It was the Dubai government, who broke the shackles and came up with some freehold property zones. Foreign companies and individuals were allowed to accumulate freehold ownership in these areas. Although the owners were not granted permanent residence visas, as advertised by some developers, still the step really worked for Dubai real estate and an investment boom followed. After that, it was just a question of time that other estates started to follow in Dubai steps.

Ajman, the smallest in United Arab Emirates was the second one to follow in 2004 after Ras Al Khaimah. Ruler of Ajman, Sheikh Humaid Bin Rashid Al Nuaimi Amiri has recently issued new law under Decree No. 7 and 8 for Ajman real estate regulations. The introduction of the brand new law led to immediate price hikes as Ajman cemented its place inside the real estate investor’s next priorities list. Such investment opportunities are quite rare this present day where capital appreciation can show a 200% growth with seemingly less risks involved than any other investment alternates. Growing population, high demand, low prices, investor-friendly regulations, these are the justifications that despite being the smallest of all seven estates, Ajman is next only to Dubai and Abu Dhabi in the case of real estate growth in UAE.

Ajman actually bypasses Dubai and Abu Dhabi as an investment prospect relating to short-term gains because the prices are significantly low compared to Dubai. A growing number of individuals are seeking to live in Ajman, that’s only at 30 minutes drive (approx 35 km) from Dubai. Being so just about Dubai and anticipated to grow significantly in coming days, Ajman presents a brilliant opportunity for people that were priced out of Dubai property market. Great location, Freehold properties, more than twenty years of tax-free operations, no personal income tax and lots of other advantages have helped to set Ajman property demand inside the right direction.

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