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Sectional title property is a concept that may not be very well-known to investors and buyers. This is a form of property ownership that strikes a balance between individual and shared ownership.
In essence, a sectional title property allows you to own a specific unit (e.g., apartment or townhouse) within a larger complex or development. Meanwhile, you also share ownership of common areas (e.g., parking lots, lobbies, elevators, gardens). Let’s ponder on how sectional title works, how it differentiates between freehold property, and its pros and cons.
In its core, sectional title property is a model of ownership popular in modern developments. These sectional title properties include apartment buildings, townhouses, and more. This means that you will get exclusive ownership to a specific unit but are also responsible, along with other owners, for the communal areas. It brings about convenience and a sense of community between property owners. Additionally, a sectional title property model is usually composed of three main elements.
To fully grasp what sectional title property is, it is important to compare it with freehold property ownership. Let’s discuss the sectional title and freehold in detail for better understanding.
With freehold property, you own both the property and the land it’s built on. You also have full control and responsibility over the property. This includes all decisions, maintenance, insurance, utility bills, and modifications. Moreover, freehold properties mostly refer to villas, standalone homes, cluster homes, and more.
In sectional title property, you own a specific “section” or “unit” within a larger development or building. This could be an apartment, townhouse, or residence that’s part of a shared complex.While you hold exclusive ownership to your unit, you share ownership of the common areas with other unit owners. These common areas include amenities like gym facilities, swimming pools, gardens, and more.
Moreover, the maintenance and management of the common areas are usually handled by the committee of unit owners. The upkeep will then be paid through the contributions from all the unit owners.
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One of the advantages of sectional title property is its affordability and convenience. Usually, these properties are more affordable than owning both units and land. Plus, there’s also the convenience from shared responsibilities for the upkeep of common areas. Another benefit is the access to amenities that might be too expensive to maintain on your own. In many complexes and developments, you’ll have shared access to amenities like gyms, tennis courts, 24-hour security services, and more. You’ll only have to pay for the portion of the overall cost of maintaining the condition of these amenities.
Moreover, sectional title properties often have tight security and are located in prime areas. This offers you peace of mind and great connectivity.
Despite the many perks, sectional title property does come with some limitations. The biggest drawback is that you have less control over your property. You might find it hard to make changes in your property, host events, or even adopt a pet. Additionally, since the management of communal areas is managed by a body corporate, there are cases when owners feel it’s not managed properly. Plus, maintenance fees that you pay monthly may increase over time, which can impact your budget.Furthermore, for changes in rules and regulations, you might have limited influence as an individual. Lastly, living close to others may not be all too pleasing for you as well, which can cause you stress.
Overall, sectional title property in Dubai is a unique form of ownership that blends exclusive and shared responsibilities. It’s an excellent choice if you want the convenience of community living with premium amenities without high individual maintenance costs. However, it does have limitations when it comes to making changes and freedom. If you’re considering purchasing a sectional title property, it’s important to weigh the advantages and disadvantages to see if it fits your lifestyle and long-term plans. Additionally, if you’re looking for properties or want expert advice on real estate investment in Dubai, APIL Properties is here to guide you. Our expertise and extensive experience can help you navigate the complexities of sectional title ownership.
What is the sectional title property description?
Sectional title property allows you to own a specific unit within a larger complex or development.
What are the key points that differentiate sectional title property from freehold?
The main criteria that differentiate sectional title from freehold are ownership type, maintenance responsibility, and extent of control.
What are the sectional title advantages?
Sectional title properties are typically more affordable, with a variety of amenities within the larger development or complex. Most of these complexes offer heightened security and shared maintenance costs for communal areas.
DAMAC Riverside allows you to literally live by the side of a manmade river, containing natural cool water, in the desert city of Dubai.
Open vast sandy desert is not that apparent in Dubai due to the skyscrapers and concrete wonders turning it into a mega city. But, the unbearable summer heat (Dubai has summer year-sound) keeps the people here aware that they are really in a desert. The glamorous touch-ups cannot overpower nature.
The river, though artificially made, contains natural water and nature takes care of the residents, teaming it up with natural greenery (again planted here by humans) to give some relief. DAMAC Riverside that’s why is becoming a favorite community to settle down with family increasingly.
We are not writing this blog to praise all the pleasures one will positively enjoy here. For that check our other blogs please. Here, we will give you a fair idea about the property registration process in Dubai (applicable for DAMAC Riverside or any side!).
As you select and commit to buy a specific property at DAMAC Riverside or at any community in Dubai, these useful pieces of information will come handy to you.
Dubai is such a progressive desert city where engineers make artificial islands and waterbodies featuring natural water.
One such wonder awaits you at DAMAC Riverside where a manmade river flows through the center of this lavish waterfront community at Dubai Investment Park. Plus, essential oil infused lake and swimmable lagoons add to its waterfront living delights wonderfully. Lagoons and sandy beaches offer a tropical beachfront vibe to the residents here.
Let us reveal to you the DAMAC Riverside amenities here. Take a dive in the serene peacefulness beautifully balanced with modern lifestyle
DAMAC Riverside is a lavish waterfront community at Dubai Investment Park, Dubai. It is a villa-exclusive gated community but the next phase offers luxury apartments under DAMAC Riverside View. Both offer excellent accommodation opportunities in a community that abounds in world-class amenities for wonderful living experiences.
