What are the annual costs of owning property?

Annual ownership costs in Dubai Creek Harbour include: service charges (typically AED 8-15 per sq ft annually depending on property type and amenities), chiller/cooling charges if applicable (AED 0.60-0.80 per sq ft for non-free cooling units), DEWA utilities (water and electricity based on usage), property management fees if renting out (5-8% of annual rent), home insurance (optional but recommended, AED 800-2,000 annually), and community association fees if applicable. A 2-bedroom apartment might incur AED 10,000-15,000 in annual service charges plus utilities. These costs are relatively low compared to many international markets and can be offset by rental income for investors.