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Acquiring the Ideal Dubai Property

A Comprehensive Guide If you’re on the hunt for your perfect home in Dubai or a lucrative investment opportunity, this guide is your ultimate resource. We cover everything you need to know, from crucial legal considerations to valuable recommendations from our experienced property consultants. Let’s embark on your journey to find the perfect Dubai property together.

 

How to buy the perfect Dubai property

The Allure of Dubai’s Property Market: Open to All Overseas Investors One of the most attractive aspects of the Dubai property market is its openness to overseas investors without any limitations or complex requirements. Incredibly, you do not need to be a UAE resident or be physically present during the purchase process to invest in this lucrative market.

Documentation Requirements

The necessary documentation varies depending on whether you are purchasing as an individual or a corporate entity, as well as the chosen payment method.

For Individual Buyers:

  • Original passport and Emirates ID are required as identification.
  • If you are not a UAE resident, only your passport is needed for identification purposes.

For Company or Corporate Entity Buyers:

  • Properties can also be purchased through UAE-based companies. In such cases, you will need to provide a list of documents, including:
    • Certificate of Incorporation
    • Board of Resolution
    • Power of Attorney for the designated signatory
    • Personal documents mentioned above (original passport and Emirates ID)

With these simple documentation requirements, both individual buyers and corporate entities can venture into Dubai’s property market hassle-free. The ease of entry makes it an inviting destination for investors from all around the world.

Translation Requirements and Expert Assistance for Company Purchases When buying a property through a company, it is essential to have all company documents translated into Arabic, and the specific requirements may vary depending on the type of company. For precise information on the necessary documentation for your case, we recommend reaching out to a reputable real estate agency like haus & haus. Their experienced team can provide you with an exact list of requirements and offer valuable support throughout the process.

What, When, and Where to Buy?

Before commencing your property search, it’s helpful to determine the type of property you’re looking for. Whether it’s a personal residence, a rental property for yearly income, or a holiday rental, Dubai offers an abundance of options. From stylish apartments to spacious family villas and modern townhouses, the city caters to various preferences.

If you’re unsure about your specific requirements, that’s completely fine. The seasoned property and investment consultants can guide you with informed recommendations based on your goals. They’ll assist you in viewing potential properties and making the best decisions along the way.

The Role of a Knowledgeable Real Estate Agent

Choosing a real estate agent with expertise in Dubai’s diverse communities can significantly simplify and smoothen the entire process. The area specialists at haus & haus are well-versed in the city’s major neighborhoods. They will not only assist you in answering the ‘where’ part of the equation but also provide expert advice and identify lucrative opportunities tailored to your unique needs. Their support ensures that your property search in Dubai is both efficient and rewarding.

 

The Big Decision: Ready or Off-Plan Properties?

As a buyer or investor seeking a property in Dubai, you have the option to choose between ready properties and off-plan projects. Ready properties are those where the construction phase is completed, while off-plan properties are under development or construction. Your choice between the two will depend on your budget, goals, and timeline. Let’s take a closer look at both options and why they offer excellent investment opportunities.

Ready Properties: If you’re an investor looking for immediate rental income or a buyer eager to move into a new home soon, Dubai offers a diverse selection of ready properties in urban, beachfront, and natural settings. Buyers can often secure a high loan-to-value (LTV) ratio for these homes, making it easier to obtain a mortgage from the bank. To explore the available ready properties in Dubai, check out properties for sale here.

Off-Plan Projects: Dubai’s off-plan property market is thriving, with numerous real estate developments announced each month. Investors and buyers can reserve prime units with convenient payment plans that are completed upon project handover. Once these properties are finalized, they typically yield high rental returns, a good return on investment (ROI), and significant capital appreciation. Stay updated with the latest off-plan launches here.

The decision between off-plan and ready properties can also be influenced by whether one option is cheaper than the other. Market trends and pricing can vary over time, so it’s essential to consider your budget, goals, and seek advice from industry experts to make an informed choice.

Payment and Paperwork Process:

As a buyer, it’s natural to aim for a fair market price – or ideally, a price lower than the market value. At haus & haus, our agents work diligently to set fair market prices, ensuring that they do not accept costs just to secure a listing. This way, buyers and investors can enter negotiations with confidence, knowing that vendors are in a practical mindset.

Once the seller or developer and buyer agree on a price, your broker will arrange for a Contract B to be sent to you via the Dubai Land Department. Upon acceptance, a Unified Contract F will be sent. As the buyer, you’ll need to provide a 10% deposit cheque to your consultant, which will be held until the property transfer process is completed.

 

 

Included Fees in the Buying Process

When purchasing a property in Dubai, there are several fees to be aware of:

1. Transfer Fee: Both off-plan and ready property buyers are required to pay a 4% transfer fee to the Dubai Land Department. Some developers may cover part or all of this fee as an incentive to encourage purchases.

2. Agent Fee: An agent fee of 2% + VAT applies to the buying process. For off-plan properties, developers typically pay the broker’s fee, so buyers are not responsible for the 2% payment in such cases.

3. Community Service Fee or Maintenance Charge: These fees are charged based on the RERA service and maintenance index and are calculated per square foot. The amount usually ranges from AED 2 to AED 30 per square foot, depending on the area.

4. Mortgage Registration Fee: For buyers using a mortgage, a total of 0.25% of the registered loan amount must be paid to the Dubai Land Department.

5. Conveyancing Fee: Working with a team of specialists, you’ll be required to pay a conveyancing fee of AED 8,400, including VAT. This fee covers services such as coordination and facilitation of legal processes and property resolution.

Choosing a Real Estate Agency with Specialized Services

Selecting a real estate agency that offers specialized conveyancing services can significantly ease the buying process. These services encompass the sale progression, property transfer, and legal coordination. At haus & haus, we provide comprehensive conveyancing services through our partnership, ensuring a smooth and efficient transaction. Learn more about these services here.

Advantages of Buying with haus & haus

Whether you’re in Dubai or overseas, working with a professional agency offering a wide range of services can simplify your buying process. Our team of property and investment consultants offers a variety of services, including mortgage assistance, furniture solutions, conveyancing support, and real estate consultation. With our extensive knowledge and experience in the Dubai property market, we are well-equipped to find the best opportunity that matches your needs and situation.

Ready to Begin Your Purchase Process?

Contact us today, and we’ll be delighted to assist you in your property acquisition journey.

How to buy the perfect Dubai property

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Whether you are a real estate agent looking to build a website for your company or a web developer seeking a perfect WordPress theme for your next project, you are certain to appreciate the numerous features and benefits that our theme provides.

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Unlike many other real estate themes which confine you to a handful of predefined layouts, Houzez offers a limitless array of possibilities to structure and style your content. All of the customization options are logically organized in your WordPress admin panel and thorough customization in the provided documentation.

Meet our Team

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Kathleen Grant
Funder
Kathleen Grant
Funder
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Keith Bailey
CEO
Keith Bailey
CEO
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Danielle Murray
Manager
Danielle Murray
Manager
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Thomas Stevens
Manager
Thomas Stevens
Manager
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Testimonials

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I had a great experience working with my Dubai property agent. They were extremely knowledgeable about the market trends and helped me find the perfect property within my budget. Their professionalism and dedication made the entire process smooth and stress-free. I highly recommend their services.
by Vibha Mahajan
Owner, AXIX Property Sourcing London
Working with my Dubai property agent from Golden Luxury was a fantastic experience. They took the time to understand my requirements and showcased properties that aligned perfectly with my preferences. Their market insights and honest advice helped me make informed decisions. I am grateful for their professionalism and highly recommend their services to anyone looking for a property in Dubai
by Kenya Soval
Realtor, Company Inc.
I just bought my third property with Golden Luxury Realty. The team is so well-informed on all up and coming projects and are very transparent about the pros and cons of each one. They guided me while I was in India. Everything was done online and I wouldn't tryst anyone else with my property transactions.
by Rajeev Gupta
, India

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