Umm Al Quwain is the smallest of the seven Emirates in the UAE. With gorgeous beaches and a comfortable lifestyle, it’s the perfect place to sell property in Umm Al Quwain. Knowing the type of market, residential real estate, and property transfer process is crucial.
Moreover, a complete property selling guide can increase your knowledge and make you an expert in the real estate market. Here is everything that you need to know!
Understanding the Umm Al Quwain’s Real Estate Market
The complete process for property transfer and all details about the real estate market in Umm Al Quwain are listed below.
An Overview of the Umm Al Quwain Area
Umm Al Quwain is the smallest of the seven. It is located on the west coast of the UAE, perfectly between Ras Al Khaimah and Sharjah. Moreover, it is growing mainly in the real estate market and tourism.
It is mostly known for its breathtaking coastline, nature-based environment, and historical viewpoints. Here are some salient points about it:
- Lifestyle: Its residents enjoy a calm lifestyle, with mostly affordable living.
- Current Government: Umm Al Quwain is currently under the rulership of Sheikh Saud bin Rashid Al Mu’alla.
- Communities: Comfortable neighbourhoods such as the Falaj Al Mu’alla, Al Salamah, Umm Al Quwain Marina and Al Raas.
Local Real Estate Market
To sell property in Umm Al Quwain, it is crucial to learn about the current real estate market trends there. The market is steadily increasing and it is going to become a hotspot within a couple of years.
Here are a few reasons why investment in Umm al Quwain’s real estate is a good idea:
- Affordable pricing: Umm Al Quwain offers competitive pricing.
- A vast range of options: Anything from villas to apartments can be bought.
- Increasing Development Projects: Main projects like the Umm Al Quwain Development Canal, Al Sinniyah Island and FEWA make it a perfect location.
- Competitive Trends: As a rising harbour for real estate enthusiasts to invest in property, Umm Al Quwain’s market is highly competitive.
- Policies Are Favourable For Investors: The transfer processes are very simple to understand.
Types of Residential Properties Available
If residential properties are what citizens are looking for, Umm Al Quwain offers it all. There are various houses, villas, apartments, studios, penthouses, and townhouses up for sale already on the market.
This makes it the perfect way to get into the market; here are some properties that can be found:
- Apartments: Can be found in the Al Madar area and can be rented yearly.
- Villas: Can be found in the Umm Al Quwain Marina, Al Ramla and Al Surra areas. Bedrooms range from 4 to 7+.
- Townhouses: These can be found in the Al Surra and Al Salamah areas. The beds and baths range from 5 beds and 7 baths to 7+ beds and 4 baths.
- Compounds: Some can be found in the Al Rawda area.
Process of Selling Properties In Umm Al Quwain
Umm Al Quwain’s market can become quite overwhelming for new entrants. Here are a few things that should ensure that the property sells well.
Getting to Know the Market
Read up on the current market trends and be in the know about property prices and if the market dips. Knowing the current trends can help market the property better and make it sell better.
Preparing the Property
Ensuring that the property is ready for sale is crucial to getting a good price on it. Get repairs done, clean it properly and make sure to choose the best areas to live in Abu Dhabi.
Property Valuation
To determine the correct selling price for the property, a property valuation is done. It helps estimate the value of the property and determine a selling price based on that. Four main factors creep into this:
- Demand
- Transferability
- Utility
- Scarcity
- Marketing
- Negotiating Prices
- Transfer Process
A Quick Look At The Property Transfer Process
The Transfer process for the property requires a detailed legal process.
- NOC (No Objection Certificate): Required and can be taken from the Municipality Department of Umm Al Quwain.
- Title Deed: Can be acquired from the Land and Property Department of Umm Al Quwain.
An Ownership title is a requirement (also known as an Ownership Document of Heirs). Here are the required documents:
- Site Plan Document
- Determination of Inheritance Certificate
- Death Certificate (under certain conditions)
- Deceased ID (under certain conditions)
- Delegation Letters and Decelerators EID Documents
Fees Required
- Ownership Fees: AED 1000
- Insurance Ownership Document Fees: AED 1000
- Packaging Fees: AED 10
- Registration Fees: AED 50
FAQs
It is the perfect time to start a business in Umm Al Quwain. The main factor for this is the ever-growing real estate market. As an investor, you can take advantage of it and make a huge profit.
While Umm Al Quwain isn’t specifically freehold, it does offer freehold property ownership to expatriates and residents of the UAE. This makes it the perfect opportunity to invest in the real estate market.
Yes, foreign investors can sell property, but they should ensure compliance with local regulations and seek professional advice if needed.
Re-evaluate your pricing strategy, enhance marketing efforts, consider property improvements or consult with a real estate professional for advice.
Selling properties in Umm Al Quwain can be a lucrative venture with the right approach. By understanding the market dynamics, pricing your property correctly and leveraging effective marketing strategies, you can maximise your returns.
Ready to sell? Follow these insights to achieve a smooth and profitable property sale. And Keep reading Property Finder blogs to learn more about Umm Al Quwain and it’s real estate!
