About the market
Yes it is as long as you select a real estate firm that is licensed by the Dubai Property Regulatory Authority (RERA) and in case you hadn’t guessed, we offer a RERA-compliant and licensed brokerage service.
Due to new residency visa rules in Dubai, all kinds of businesspeople have the opportunity to own commercial or residential space. There are freehold areas for foreigners to buy property in Dubai. You don’t even require a residence permit to set up.
No they do not. Being tax-free is one of many reasons why the city is so attractive to foreigners.
Yes Dubai is, for individuals and legal entities registered in an onshore zone of Dubai or in specially designated offshore zones.
Yes of course and the procedure usually takes about a month from the moment the contract of sale is certified. If an off-plan property, the procedure takes about a day. We will arrange power of attorney on your behalf.
In Dubai it is one of the highest in the world, both in terms of ROI – from 8 to 15%, and gross rental income – about 5.19%. Objects under construction can bring income up to 80-90% of the invested funds.
The Realty sector is back in the limelight after the Covid-induced uncertainties and it is showing strong signs of sustained growth.
- Verification of the counterparty in all aspects of the transaction
- Diligent study of the property
- We carefully check if right of ownership is legal, if the developer has the right to build and is registered with RERA
- 2% to 5% (+ VAT) of the price is the agent’s commission
- From 500 to AED 10,000 (+ VAT) you will have to pay for a certificate, which indicates that the developer has no objection
- Registration fee of AED 4,000 (+VAT) if the property is worth more than AED 500,000 and AED 2,000 (+VAT) if it is below AED 500,000
- You pay 4% of the purchase price to the Land Department for the transfer of ownership
- 0.25% of the designated loan amount is the mortgage registration fee (if applicable)
- Certificate of Ownership: AED 580
- Also allowable fees for services provided, or utility bills
- You deposit about 5000 to AED 37000 depending on the property value, which goes towards the first installment
- Subsequent installments are typically between 5% and 10% of the property value – paid every three months. Payment plans are usually profitable and tailored to the client’s needs
- Register the intermediate ownership of the purchase during the construction phase. This will be 4% of the purchase price plus AED 3000 administration fee
- It is possible to buy property in Dubai without downpayment
DLD strands for Dubai Land Department – a DLD fee is 4% of the property purchase price.
Yes, Dubai is experiencing an upward economic swing. That said, you can expect 7%+.
Escrow is an arrangement whereby money or property is held by a third party until all conditions are met.
Freehold: you own the property and the land. Leasehold: you own the property of a set period but not the land.
It is the Real Estate Regulatory Agency – a government body that aims to reduce fraud and protect the rights of property owners.
You will find the procedures are very flexible indeed and yes, buy in installments is a very common undertaking.
DLD is the 4% fee you pay when buying property. The waiver is when the fee does not have to be paid by the buyer.
There is no legal requirement for you to have to have a UAE bank account to own property here.
Yes, you can buy real estate with crypto, although not all real estate firms accept this. You will have to check around first.
Yes, you can but you have to give 90 days’ notice before contract expiry.
- DLD 4% of property value;
- Property Registration Fee;
- Mortgage Registration Fee;
- Agent Fee; Conveyance Fee;
- Property Evaluation Fee;
- Bank Mortgage Arrangement Fee;
- Life Insurance Fee.
DEWA stands for Dubai Electricity and Water Authority. Every resident deals with DEWA in Dubai. The organization is Dubai’s sole supplier of water and electricity. Most of the transactions can be issued online.
Activating the service is very straightforward: simply fill out the application form, provide the necessary documents and pay the security deposit along with the DEWA connection fee.
The connection procedure is available online for both landlords and tenants. To apply on the DEWA website, the property owner must enter the details of the certificate of ownership and the tenant must enter the Ejari identification number.
Yes, as long as the property is valued at least AED 750,000.
Personal choice plays a major role in decision making, but in our opinion the best places are
- Palm Jumeirah;
- Dubai Marina;
- Arabian Ranches;
- Damac Hills;
- Dubai Hills Estate.
Yes, expatriates can buy freehold; there is no issue here.
You will need your
- Emirates ID;
- passport and Visa copy;
- copy of landlord’s passport;
- copy of the title deed.
Yes, investors of all nationalities are welcome; that would not be a problem.
No, you do not.
These are the fees paid by the homeowner to the property management company.
There’s no real general timelines; it could be anywhere between four weeks and six months, but can be quicker if you make a strong offer immediately.
Yes, many investors do this and make a tidy profit. You can sell before completion, there is no restriction.
BR simply means bedroom. 2BR is of course a 2-bedroom.
This is a refundable amount that is usually 5% of the annual rent.
Off plan is a property that is still under construction
- For Personal Banking the maximum is AED 300,000.
- For Priority Banking: AED 600,000.
- Private Banking: AED 1 million.
Residential properties are exempt; commercial properties: 5%.
Ejari is a new initiative created to regulate the rental market in Dubai and is a great help to buyers.
Yes, this is possible.
Yes, it is perfectly legal to buy property in Dubai and Abu Dhabi with cash.
If you are seeking a quick return on investment, buying off plan makes properties more affordable.
Yes, companies can own property in the UAE.
Renting property in Dubai can be a challenging task.
It is important that you work only with reputable companies and brokers who are certified and licensed by the Real Estate Regulatory Agency (RERA).
Top agency consultants will assist you not only at the time of signing the sales agreement but also during the project construction, key handover, and subsequent property handover. If desired, you can easily rent out the property without coming to Dubai.
It is a long-term residence visa valid for 5 to 10 years.
Yes but it must be registered, vaccinated and microchipped.
Our advice is to contact a reputable firm of brokers such as Eva Real Estate.