Buyers Guide For Dubai Property

Buying a property, even during the best of times, can be a stressful and risky experience without the right advice. Therefore, before you decide to purchase a property, take a look at our simple but informative Buyer’s Guide, which has been designed to guarantee your chances of making an informed and effective purchase.

Admissibility Regardless of your nationality or where you are based, be it overseas or in Dubai, you can purchase a property in Dubai’s Real Estate market.

2. Documents Required 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

A Visa is issued by the Dubai government to property owners.
Regulations imply that if a property is worth AED 1,000,000 or more, the individual should be granted a residence visa for 2 years. However, this clause is subject to the rules of immigration, which may change.

4. Freehold and Leasehold

The majority of the properties that Holmes & Homes Real Estate handles are freehold, but some have a 30-99 year leasehold in Dubai.

5. Government Taxation

No official government taxes on the purchase of a property in Dubai.
Buyers have to pay a 4% registration fee when a property is registered by the Dubai Land Department.

6. Fees Involved

Transfer fee of 4% of the property value to the Dubai Land Department.
Mortgage registration fee of 0.25% of the mortgage value to the Dubai Land Department and the Developer.
Service maintenance fee for completed properties.
Developer no objection certificate fees capped at AED 5,000.
Property registration trustees fees.
Agency fees of 2% for all purchases through Holmes & Homes Real Estate.

7. Service Charges

No standard service charge applies to properties throughout Dubai.
Depends on the area and the property.
Large community developments charge property owners an annual community charge.

8. Developer’s Obligations

- Sales and purchase agreement oversee Developer’s obligations for off-plan properties.
- Estimated handover date provided.
- Purchasers should be prepared for potential delays.
- Developers provide a 10-year warranty for completed properties.