The Biltmore Residences in UAE residential complex under construction in Dubai is located in the prestigious Al Sufouh area. It consists of 2 combined towers with a height of 44 floors. The buildings are made in a modern architectural style and have an original geometry of forms. The combination of concrete and metal gives the complex an unusual appearance. In total, there are 480 premium-class residences in the residential complex. The construction is being carried out by a company that also deals with hotel services, so residents of the residential complex will have access to apartments with exclusive design and hotel services.
Biltmore Residences, Dubai, United Arab Emirates
Al Sufouh is a free zone so that expats can buy property in Biltmore Residences Sufouh as private property. Housing is suitable for moving to a permanent residence; it can also be considered an investment.
The complex is being built in an area with developed transport infrastructure, allowing you to access major attractions quickly. The city center, the Burj Khalifa skyscraper, and the Dubai Marina resort area are within a few minutes drive. Transfer to the international airport takes 25 minutes.
Property for sale in Biltmore Residences
Housing stock prices in residential complex range from AED1.6 million ($435,500) to AED12.1 million ($3.3 million). These investments are sufficient to obtain a resident visa. The duration of its action depends on the cost of housing. In the future, the visa can be extended unlimited times. The property is offered for purchase in installments. When booking, it is enough to pay 10% of the cost. Another 40% of the price is paid during construction. 10% is paid upon delivery of the residential complex, and the remaining 40% of the amount can be paid within 3 years after the delivery of the residential complex. This approach is especially beneficial when the budget for the purchase is limited, as it allows you to avoid additional costs for registration and repayment of a mortgage loan.
Attractions nearby
Biltmore Residences is located in one of Dubai’s most popular areas, providing easy access to the city’s most popular attractions and entertainment venues. The complex is just a few minutes from the famous Burj Al Arab and the vibrant Dubai Marina. This location is also connected to Sheikh Zayed Road, providing easy access to the rest of the city. The Biltmore Residences is close to some supermarkets, schools, and medical facilities, giving residents quick access to key amenities and services. The area is known for its diverse culinary scene, from traditional Arabic cuisine to international dishes.
In addition, The Biltmore Residences is very close to areas such as Dubai Internet City, Dubai Media City, and Knowledge Village. These neighborhoods are known for focusing on technology, media, and education. Many global companies have offices in these areas, making them important business centers.
For shopping, residents can take a short walk to The Beach at JBR, a popular beachfront destination with many retail outlets, cinemas, and entertainment venues. The complex is close to the city’s most popular shopping malls, including the Mall of the Emirates and Ibn Battuta Mall. They contain high-end fashion brands, luxury boutiques, and international retail outlets.
There are several international schools near The Biltmore Residences for families with children, including the American School of Dubai and Dubai British School. The complex is also located close to several medical facilities, including Al Zahra Hospital Dubai and Saudi German Hospital Dubai, providing residents with high-quality medical services.
Property taxes in Dubai
In the UAE, they are eager not only for the sun, the sea, and palm trees. It is profitable to buy property in Dubai, as the state encourages investors with good tax conditions. Zero tax attracts many. However, it must be understood that such a system is relevant only to owners who purchase flats in Dubai for personal use.
If an entrepreneur buys real estate for sale in Dubai, then he will have to pay taxes, which from the summer of this year will amount to 9% of the income of 102 thousand dollars. Income tax is added to this if the buyer does not live in the Emirates and conducts a remote business.
Buying real estate in Dubai with a mortgage
If you plan to buy property in Dubai, you can quickly get a mortgage – banks are willing to meet you. However, you can set a payment only for half the amount; the rest must be paid immediately.
To apply for a loan, you will need:
– statement of income for six months – a year,
– information about whether you are a resident of the country,
– What type of housing are you planning to buy?
– Non-residents can only take mortgages on finished houses.
If a non-resident still wants an apartment in a new building, he can negotiate with the developer and take an installment plan. Interest on it, as a rule, is not paid, and the repayment period is equal to the year the house was put into operation. More information about the available options can be found here Emirates.Estate. Real estate consultants will answer your questions and help you choose the right option.
Buying property in Dubai for sale
Buying a property for sale in Dubai or renting out an object also involves some nuances. Resale requires that your property be paid for at least 30% of the total price. This is done to reduce speculation in the market. If you plan to rent an object, you can do it yourself and not pay for the income received. Or hire a management company. Then you must issue a license and pay 20% of the annual income.
Either way, apartments in Dubai are a bargain.