Buyers Guide for Dubai Property

Even in the best of times, purchasing a property can be stressful and risky without the proper guidance. Therefore, before making a decision to buy a property, take a look at our straightforward but informative Buyer's Guide, which has been created to increase your chances of making an informed and wise decision.


1. Acceptability
You can buy a house in Dubai's Real Estate market regardless of your nationality or location, whether you are based abroad or in Dubai.
2. The Documents Required In Order For You To Buy Property
As An Individual:
Passports for all Buyers
A signed Buyer Agreement known as Form B
As A Company:
Certificate of Incorporation
Memorandum and Articles of Association
Board Resolution
Power of Attorney
Signed Buyer Agreement known as Form B
As An Overseas Company:
All of the above must be attested by the UAE Embassy
Signed Buyer Agreement known as Form B
3. Residence Visa
Those who own property in Dubai can obtain a visa from the Dubai government.
According to some regulations, if a person owns a property worth AED 1,000,000 or more, they should be awarded a resident visa good for two years; however, this provision is subject to the immigration rules, which are subject to change at any time.
4. Freehold And Leasehold
However, there are some properties in Dubai that have a 30-99 year leasehold. The majority of the properties that NHD Real Estate manages are freehold.

5. Government Taxation
Although the Dubai Land Department charges a 4% registration fee based on the property's purchase price when registering a property, there are no formal government taxes associated with the acquisition of real estate in Dubai.
If a property is mortgaged, the buyer must pay a registration fee to the Dubai Land Department equal to 0.25 percent of the mortgage value.

6. Fees Involved
The cost of buying a house includes a number of expenses.
A transfer fee of 4% of the property value must be paid to the Dubai Land Department in order to register a property in the name of a new owner. A mortgage registration fee of 0.25% of the mortgage value must be paid to the Dubai Land Department and the developer if you are mortgaging a property.
If the property you're purchasing is finished and ready for occupancy, the buyer is responsible for paying the seller a service maintenance charge on a pro rata basis from the date the property is transferred into their name until the end of the service maintenance period.
The Dubai Land Department has set a restriction on developer no objection certificate payments at AED 5,000.
7. Service Charges
There isn't a set service fee for all properties in Dubai; instead, it varies depending on the neighborhood and the specific property. Property owners in large community developments are required to pay an annual community charge to the project's master developer.
8. Develope's Obligations
In the case of off-plan properties, the sales and purchase agreement outlines the developer's duties to deliver and finish the project on schedule. The sales and purchase agreement will often include an approximate handover date for unfinished properties and will provide the developer some leeway if the date needs to be extended.
When waiting for the delivery or taking possession of a house that is still being built, buyers should be ready for delays. However, the developer must offer a 10-year warranty for the upkeep of the home after handover is complete.

By: Nitin Bhargava

Date Created: 2023-01-26 13:17:23