Buyer's Guide

Embarking on a property investment journey, especially in a dynamic market like Dubai, demands informed decision-making. Our detailed Buyer's Guide is meticulously designed to ensure you navigate the process seamlessly. Here's an in-depth look at key considerations:

1. Admissibility

Regardless of nationality or location, purchasing property in Dubai is open to all.

2. Required Documents

For Individuals

Passports and a signed Buyer Agreement (Form B).

For Companies

Certificate of Incorporation, Memorandum, and Articles of Association, Board Resolution, Power of Attorney, along with a signed Buyer Agreement.

For Overseas Companies: All documents attested by the UAE Embassy and a signed Buyer Agreement.

3. Residence Visa

Acquiring property in Dubai may make you eligible for a residence visa, contingent on regulatory requirements and property valuation. Additionally, under the Golden Visa initiative introduced by the Dubai Government, renewable residencies for 2, 5, or 10 years can be granted, aligning with the property's assessed value.

4. Freehold and Leasehold

While the majority of properties are freehold, some have a 30–99-year leasehold.

5. Government Taxation

A 4% registration fee based on the property purchase price is applicable, with an additional 0.25% registration fee for mortgaged properties.

6. Fees Involved

Various fees include a 4% transfer fee, mortgage registration fee, service maintenance fee, NOC fees, and agency fees (2%).

7. Service Charges:

Service charges vary depending on the property and its location, with community charges for large developments.

8. Developer's Obligations:

The sales and purchase agreement outlines the developer's commitment to handover and complete the property on time, backed by a 10-year warranty post-handover.

Step-by-Step Guide

1. Figure Out Affordability:

Consider the 2% agency fee and 4% transfer fee in your budget calculations.

2. Pre-Approval for Finance Buyers:

Obtain pre-approval for a stronger buying position, confirming your budget and securing an approved loan amount.

3. Find a Trusted Real Estate Agent:

Collaborate with an experienced real estate agent to discuss your budget, preferences, and requirements in detail, streamlining the property search process.

4. Start Viewing Properties:

Explore communities and properties matching your budget and criteria, scheduling appointments for property viewings.

5. Make an Offer:

Enhance your chances of acceptance by submitting a written offer with a 10% deposit cheque, along with copies of necessary documents.

6. Sign MOU:

Once your offer is agreed upon, sign a Memorandum of Understanding (Form F), outlining terms and conditions.

7. Sales Progression:

For mortgage buyers, involve the bank for property valuation and loan approval.

8. Apply for NOC:

Apply for a No Objection Certificate (NOC) with the developer, settling any outstanding charges and obtaining necessary approvals.

9. Transfer Ownership:

Visit the Dubai Land Department to officially transfer ownership, settling the purchase price and associated fees for a new title deed.