About the market

Is it safe to invest in Dubai real estate?

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.

Can I buy property In Dubai and get residency?

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.

Do foreigners pay income tax in Dubai?

No they do not. Being tax-free is one of many reasons why the city is so attractive to foreigners.

Is Dubai a good real estate investment?

Yes Dubai is, for individuals and legal entities registered in an onshore zone of Dubai or in specially designated offshore zones.

Can foreigners buy a property in Dubai with mortgage?

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.

What is the return on investment on real estate in Dubai?

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.

Why now is the best time to buy a property in Dubai?

The Realty sector is back in the limelight after the Covid-induced uncertainties and it is showing strong signs of sustained growth.

We guarantee:

  • 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
What property taxes do expats pay for owning in Dubai?
  • 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
How to buy property in Dubai on installments?
  • 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
What is DLD and how does it relate to the purchase of property?

DLD strands for Dubai Land Department – a DLD fee is 4% of the property purchase price.

People say the Dubai economy is booming. If so, what rental yields can I expect?

Yes, Dubai is experiencing an upward economic swing. That said, you can expect 7%+.

What is an Escrow Account and what does it have to do with buying and selling?

Escrow is an arrangement whereby money or property is held by a third party until all conditions are met.

What is the difference between freehold and leasehold?

Freehold: you own the property and the land. Leasehold: you own the property of a set period but not the land.

I keep seeing comments on social media with people being advised to ‘contact RERA’. What is RERA?

It is the Real Estate Regulatory Agency – a government body that aims to reduce fraud and protect the rights of property owners.

How flexible is the purchasing opportunity in Dubai? Can I buy property on installments?

You will find the procedures are very flexible indeed and yes, buy in installments is a very common undertaking.

What is a DLD waiver?

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.

I have a bank account in my home country - do I need a UAE bank account to own property?

There is no legal requirement for you to have to have a UAE bank account to own property here.

Is cryptocurrency legal in Dubai? Can I buy a home with Bitcoin?

Yes, you can buy real estate with crypto, although not all real estate firms accept this. You will have to check around first.

I’ve seen an apartment in an amazing location, and I want to move there. Can I cancel my rent contract before the due date?

Yes, you can but you have to give 90 days’ notice before contract expiry.

What are the additional costs when purchasing property?
  • 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.
What does DEWA stand for?

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.

My townhouse is brand new so there is no water or electricity. How do I apply for DEWA?

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.

Do I pay tax on property in Dubai if I live outside the country?

No.

Can I buy a house in Dubai and get a residency visa?

Yes, as long as the property is valued at least AED 750,000.

Dubai seems to have so many exclusive districts to choose from. Which are the best locations for buying a luxury apartment?

Personal choice plays a major role in decision making, but in our opinion the best places are

  • Palm Jumeirah;
  • Dubai Marina;
  • Downtown;
  • Arabian Ranches;
  • Damac Hills;
  • Dubai Hills Estate.
I am an expat who has been in the UAE for five years. Can non-Emiratis own freehold property?

Yes, expatriates can buy freehold; there is no issue here.

What are the documents for a Tenancy Agreement?

You will need your

  • Emirates ID;
  • passport and Visa copy;
  • copy of landlord’s passport;
  • copy of the title deed.
Can a non-Emirati buy in Dubai?

Yes, investors of all nationalities are welcome; that would not be a problem.

Do I pay tax on Dubai property if I am resident abroad?

No, you do not.

What are Service Charges?

These are the fees paid by the homeowner to the property management company.

In general, how long does it take to complete a purchase?

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.

Can I sell an off plan property before completion?

Yes, many investors do this and make a tidy profit. You can sell before completion, there is no restriction.

I keep seeing 1BR, 2BR, 3BR referring to property. What does BR mean?

BR simply means bedroom. 2BR is of course a 2-bedroom.

What is a Security Deposit?

This is a refundable amount that is usually 5% of the annual rent.

What is an off-plan property?

Off plan is a property that is still under construction

I want to transfer funds from my home country to the UAE. Are there any restrictions on the amount I can transfer?
  • For Personal Banking the maximum is AED 300,000.
  • For Priority Banking: AED 600,000.
  • Private Banking: AED 1 million.
Are properties in Dubai subject to VAT?

Residential properties are exempt; commercial properties: 5%.

I’ve seen the word Ejari a few times. What does it mean?

Ejari is a new initiative created to regulate the rental market in Dubai and is a great help to buyers.

Can power of attorney be used for buying and selling?

Yes, this is possible.

A friend told me I can buy property with cash in Dubai. Is this true?

Yes, it is perfectly legal to buy property in Dubai and Abu Dhabi with cash.

Is buying off-plan a good idea?

If you are seeking a quick return on investment, buying off plan makes properties more affordable.

Can a business own property?

Yes, companies can own property in the UAE.

How do I go about renting out my apartment? Is the process difficult?

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.

I overheard some people discussing ‘Golden Visa’. What is it?

It is a long-term residence visa valid for 5 to 10 years.

I heard that dogs are not very popular in Arab culture. Am I allowed to own a dog in Dubai?

Yes but it must be registered, vaccinated and microchipped.

I am thinking of buying an apartment in Dubai. My friend is in the property business. Should I take her advice?

Our advice is to contact a reputable firm of brokers such as Eva Real Estate.