Frequently Asked Questions (FAQs)

Why should I buy a property in Dubai?

Some of the pros of buying a property in Dubai as an expat:

• Dubai is a city under development which means that it will always be home to groundbreaking and innovative projects.
• Dubai is one of the fastest-growing cities in the world with an average growth of 10.7% per year.
• The rental yields offered by the properties in Dubai are around 7% which is comparatively higher than many of the famous cities of the world.
• Dubai is known as the oasis of stability in terms of a stable economy and political situation.
• No property tax.

Can I buy a property in Dubai?

Yes, anybody can buy a property in Dubai but the expats can only purchase properties in those areas that offer freehold and leasehold sales.

What is a leasehold area in Dubai?

A leasehold area in Dubai is where the expats have the right to buy or occupy a property for a given period of time.

What is a freehold property?

A property that no one can hold other than the owner is known as freehold property. Hence, the owners of freehold properties can use their property for any purpose according to the state laws and regulations. The owners of such properties enjoy freehold title of real estate which is the most superior form of private property ownership.

What is DLD and DLD Waiver?

DLD stands for Dubai Land Department which is a government agency providing necessary legislation, services, and organization for all sorts of real estate transactions within the city of Dubai. DLD charges 4% of the property purchase price as registration fees along with an admin fee of AED 580 against their services. Most developers offer a waiver of the Dubai Land Department (DLD) registration fees.

What is the difference between on plan and off plan property?

An on-plan property or a ready property is a property that is available for immediate occupancy. These properties are fully constructed and established complying the requirements specified by the authorities of the UAE. On the other hand, off plan properties are such properties that are under construction and are not fully-built. These properties are marketed to early adopters and real estate developers.

Can I sell my off plan property?

Yes, you can easily sell your off plan property before completion to different investors. You can even earn a profit upon selling your off plan property considering that the property market is doing well.

When can I sell my off plan property in Dubai?

Different property developers have different measures for selling their off plan properties. For instance, Emaar Properties requires that the owner of the property must pay at least 40% of the total amount before selling it to a new owner. This figure is different for each property developer so make sure that you check with your property developer before selling your property to a new owner.

What are the risks of buying an off plan property in Dubai?

Buying an off plan property is the most beneficial yet a little risky investment. Following are the only risks involved while getting a property in Dubai:

• Fluctuations in the market condition
• Delayed completion time