Real estate guide
Dubai Property FAQ's
Explore the commonly asked questions and their corresponding answers regarding real estate in Dubai. Whether you’re a potential investor, buyer, or just curious about properties in Dubai, we’ve got you covered with our real estate guide.
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Why invest in Dubai?
Dubai offers a strong economy, business-friendly regulations, and high demand from investors, expats relocating for work, and tourists. Urban development continues to expand along with infrastructure like the metro system and airport. These factors create excellent conditions for the real estate market.
Can foreigners buy property in Dubai?
Foreigners can buy freehold property in designated areas approved by the Land Department. As a reputable agency, we guide overseas investors through the process from start to finish.
What is freehold property?
A freehold property in Dubai is a property you fully own and can sell or rent out without restrictions.
Where is the best place for expats in Dubai?
Communities like Downtown Dubai, Emirates Living, Dubai Marina, and Arabian Ranches are popular. Our agents can advise on the best areas to match your lifestyle and budget.
What is off-Plan property in Dubai?
Off-plan means purchasing while the building is still under construction, based on the plans and illustrations. Handover to owners happens a few years later when finished. Off-plan property can gain significant value in rising markets like Dubai.
Why invest in off-plan property in Dubai?
Investing early in off-plan real estate can be highly rewarding in Dubai’s growth-oriented market. As demand rises over the years of construction, your property value follows suit.
Where are the most affordable areas to buy apartments in Dubai?
Discover very affordable apartments in locations like International City, Jumeirah Village Circle, Dubai Investments Park, JVC, and Dubailand. Our agents pinpoint deals fitting different budgets.
Do I get a UAE residency visa if I buy property in Dubai?
Yes, purchasing property in Dubai worth over AED 1 million entitles you to a renewable 3-year residency visa.
Do overseas Dubai property owners pay tax?
No, overseas property owners in Dubai do not need to pay personal income tax or taxes on rental income.
How to sell property in Dubai?
To sell a property in Dubai, you must first register the sale with the Dubai Land Department. Then, you can list the property for sale with a licensed real estate broker or directly on property listing portals. The broker or portal will help market the home. When you get an offer, the Dubai Land Department signs and processes the sale agreement. Finally, the ownership of the home is transferred to the buyer.
How can I rent out my property ?
To rent out your property in Dubai, first register your tenancy contract with the Dubai Land Department’s Ejari system. Then list your property for rent on portals like Bayut or hire an agent to market it. Screen tenants, sign the Ejari contract, collect security cheques, and handover property.
Should I invest in Dubai property?
Yes, with EXPO 2020 and persistent demand coupled with attractive payment plans, now is a promising time to invest in Dubai property.
What is the Dubai Land Department?
Dubai Land Department is the government agency that oversees and regulates all real estate transactions, registrations, and disputes in the Emirate of Dubai.
How to finance off-plan property in Dubai?
Banks offer up to 50% mortgage financing during construction of off-plan properties, which are usually cheaper than ready ones. Once you pay 50% of the purchase price, the full mortgage amount is preapproved and guaranteed at completion. You can also take 25-30% cash out after paying 50%. If the property value increases during construction, you may qualify for 75-80% financing upon revaluation and reapplication, allowing you to withdraw more cash.
Can you buy property in Dubai with cash?
Yes, it is permitted to buy property in Dubai with a full cash payment. There are no restrictions on cash purchases for either locals or foreign buyers.
How Much Does It Cost to Live in Dubai?
In 2021, the Emirate ranks #42 in Mercer’s Cost of Living Survey, so the city is more affordable than San Francisco, London and Paris. The area where you choose to reside is one of the major aspects determining how expensive the cost of living in Dubai will be for you.
How much is the transfer fee when selling Dubai property?
Property transfer fees are 4% of the property value, paid by the buyer.
Do you need a power of attorney to sell property in Dubai
Yes, legally authorizing another person via power of attorney is required to sell property in your place.
How to Invest in Property?
In Dubai, UAE residents are allowed to buy properties only in designated freehold areas. Off-plan developments are a very attractive option, since their prices are lower and developers offer flexible payment plans.
Can You Obtain Dubai Citizenship?
The UAE Government had approved amendments to the ‘Executive Regulation of the Citizenship and Passports Law’ in January 2021, which allows several categories of foreign nationals, their spouses and children to obtain Emirati citizenship.