How to purchase a property in Dubai as an expat

Whether you're searching out your next home or planning for an investment in property, here's what you need to know from a legal perspective to professional advice.

According to the ‘2023 World’s Best Cities Report’ Dubai has ranked as the high-quality city in the place to live, work, invest, and visit. Combine that with top protection, an outstanding lifestyle option, and a vibrant property marketplace, and you've got a flurry of buyers wanting to secure a home in the emirate.

Maybe you're ready to buy for your first Off Plan assets, or perhaps you're still considering it however need to recognize greater approximately the process. Whatever your case, here are a few things you want to realize before getting started.

What you need

The requirement of the document depends on whether you are buying the property as an individual or as a corporate entity and the payment method that you pick.

Individual buyer – You will need your original passport. If you're not a UAE resident, you can simply provide your International passport as your identity.

Company or corporate entity – Properties can also be bought through UAE-based companies. In this case, you will need a list of documents along with a Certificate of Incorporation, Board of Resolution, Power of Attorney for the designated signatory, and the private documents noted above.

What, where and when to buy

Think about the purpose of your purchase – are you looking for ready residences or want to put money into Off Plan homes?

Dubai gives lots of options from stylish flats to spacious villas for family, and cutting-edge townhouses. If you're still not sure about what you want, that's also fine – an experienced Property Consultant will be able to give you suitable and informative advice based on your needs.

Choosing a real estate agency with place experts may also make your existence simpler, they'll assist you answer the 'where' part of the area and spot lucrative opportunities along the way.

Get viewing

Think approximately your must-haves – perhaps you want to have a school close by for the youngsters or want a couple of parking areas.

If you are seeking out an investment property, you would possibly locate greater value within the community and proximity to major landmarks (a holiday home with Burj Khalifa views can get rented in a flash).

Discuss those factors together with your agent earlier than the search. During viewings, ask any questions you have got and ensure you actually have a observe the amenities and surrounding areas.

Payment and paperwork

You've observed the suitable property – now what?

Once you've got agreed on a price with the seller or developer, your Property Consultant will set up for a Contract B to be sent to you thru the Dubai Land Department. Once accepted, the agent will arrange for a Unified Contract F to be sent.

As the customer you'll be required at hand over a ten% deposit cheque on your Consultant, with a view to be held until the switch of the property is processed.

Fees included

Transfer fee— You will want to pay a 4% transfer fee to the Dubai Land Department. Some developers cover element or the total of 4% as an incentive to purchase.

Agent Fee — An agent fee of 2% + VAT applies to the buying method.

Community provider fee or protection fee — These prices are charged on a per sq. ft basis and usually lie between AED 2 to AED 30 per sq. ft depending on the area.

Mortgage registration rate — For loan consumers a complete of 0.25% of the registered mortgage amount should be paid to the Dubai Land Department.

Conveyancing offerings

We endorse choosing an actual property agency that gives specialized conveyancing services to help you with the progression of the sale, switch of the belongings, coordination and facilitation of legal services and property decision. Need help in this element? Click here to learn how we will assist.

Take the foot forward

Whether you're in Dubai or foreign places, an expert actual property agency will make the buying process less complicated. From mortgage offerings and fixtures solutions to conveyancing help and consultations, the Dubai Living VIP team offers all the help you need in a single area.