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Wills

hi all,

I would appreciate any info on what one does in regards to Wills in UAE.

If and when one takes delivery of an appartment / villa in the UAE ,having paid the full price, and they are residents and citizens of the UK , do they have to engage in arranging a Will under Sharjah Law to protect their property in the event of death etc ?

Many thanks
 

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Dubai Rents Advance on Population Growth, Prime Areas CBRE Says

Residential rents in Dubai rose 17 percent on average amid population growth and limited supply in certain areas, according to CBRE Group Inc.

“Dubai is seeing higher rental growth this year due to a sustained period of population growth, positive economic performance, increased occupier demand and limited availability of quality units in the most desirable locations,” Matthew Green, head of United Arab Emirates’ research at CBRE Middle East, wrote in a report today.
 

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18/12/2012

Prime areas such as Dubai Marina are witnessing rental increases of 24% year on year, according to a new report by CB Richard Ellis (CBRE). From December 2011 to November 2012, rates soared in Dubai Marina.
Elsewhere residential rents and property prices rose an average of 17% and 16% respectively over the last year. According to Jones Lang LaSalle’s seventh Mena Investor Sentiment survey, investors from the Middle East and North Africa (Mena) region are keen on buying real estate in Dubai due to its global appeal, transparency and legal structure. The survey also predicts Dubai will be the strongest performing real estate market in the region over the next 12 months.
Dubai is forecast to be among the strongest performing property markets in the world next year, according to a new study. The research by international property broker, Knight Frank, ranks the emirate in third place, just behind Moscow and Miami, out of a total of 14 global cities. It also predicts luxury villa prices will rise by 5-10% in 2013, with Emirates Hills and the Palm set to be among the most popular areas
 

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RERA RENTAL INCREASE CALCULATOR

I have been trying to use the calculator for several weeks now and keep getting the response - "The rental index under updating.Please contact [email protected]"
Any ideas what rent a two bed, mid floor unfurnished apartment in The Torch should be achieving now ?
It would help if the calculator could ever work !!
 

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RERA RENTAL INCREASE CALCULATOR FINALLY UPDATED !

The rental index calculator has finally updated and shows rents for a 2 bed apartment in Dubai Marina in the range of AED 140000 -170000 per year :

Rent Type : Residential
Tenancy Expiry Date : 2014-02-04
Main Area : Free Hold
Property Type : Apartment
Sub Area : Dubai Marina
Bedrooms: Two bedrooms
Rent : 100000

• The rent for a Two bedrooms apartment in Dubai Marina of 140000 to 170000 AED per year.
• Rent is lower by 35% of the average rent for the type of unit you have chosen .
• According to the law governing change, your rating category is (form 31% to 40%)
• The rate of increase for this category is 15%
• Amount of the increase recorded by the rental value (AED 15000)
 

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EXCHANGE RATES FOR UK TAX RETURN

Hi,

Please can anybody advise me on this :

During the UK tax year 2013/2014 I received several amounts of AED for rental income in Dubai. Several transactions took place and the AED was converted to UK pounds with several different exchange rates on many different dates.

Is anyone able to tell me where I can find the official average fx rate for the AED / GBP issued by HMRC for the tax year 2013/2014 ?

Many thanks,

Impy
 

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PROPERTY INVESTOR VISAS FEES LOWERED

UAE slashes cost of property investor visa by 45%

The six-month visa will now cost Dh1,100


By Parag Deulgaonkar


Published Monday, August 25, 2014



The UAE has slashed the cost of getting a property visa by 45 per cent, a move that could see more foreign property owners spending time in the country.

The six-month visa, which was Dh2,000 prior to August 1, will now cost Dh1,100.

The conditions continue to remain the same and include property valuation to be above Dh1 million, the owner requiring an income of Dh10,000 per month, the property has to be ready, etc.
 
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