Buying real estate in Dubai is becoming increasingly popular among foreign investors. This is due to the high standard of living, stable economy, attractive tax climate and variety of luxury properties. The city offers favorable conditions for both permanent residence and rental income. The process of purchasing housing in the emirate is organized simply and transparently, and UAE legislation allows foreigners to own real estate on the basis of full ownership in specially designated areas – freehold zones.
What should you pay attention to?
Apartments for sale in Dubai begin with determining the purpose of the purchase. This can be personal residence, renting out or investment with the prospect of resale. Depending on this, the area, type of property and developer are selected. Buying through a developer, especially at the construction stage, gives the opportunity to take advantage of flexible payment terms, but requires confidence in the reliability of the company. Buying on the secondary market allows you to immediately enter into ownership rights, but is accompanied by a mandatory legal check of the property.
Particular attention should be paid to the documentary side of the issue. At the first stage, a preliminary agreement is concluded between the buyer and the seller. In this case, a deposit is usually made to confirm the seriousness of the buyer’s intentions. After this, the main part of the transaction begins: drawing up the contract, registering with the Dubai Land Department, making payments and receiving a document confirming the ownership – Title Deed. All actions are carried out in accordance with the requirements of the UAE legislation. It is also important to remember the additional costs that the transaction includes: registration fee, agent services and, if necessary, payment for legal support. On average, they amount to about 6-7% of the cost of the property. However, when buying a home directly from the developer, some of these costs may be reduced or even absent. In the case of purchasing luxury real estate worth 750,000 dirhams, it becomes possible to obtain a UAE resident visa, which opens up access to a number of additional privileges. Thus, buying real estate in Dubai is a reliable and promising step for those looking for stable investments or a new place to live. The main thing is to approach this issue responsibly.