In today’s world, it’s well known that Dubai has experienced rapid growth and now ranks third in real estate markets globally. There are many compelling reasons to buy property in Dubai, ranging from its luxurious lifestyle to flexible payment plans and a variety of payment methods available for property purchases.
When you buy property in Dubai, you gain access to numerous benefits such as good returns on investment (ROI) and luxurious living. People from all over the world are investing in Dubai’s real estate market as a long-term investment opportunity. Among the various options available, villas, townhouses, and apartments are the most popular property types.
When you’re planning to buy a property in the real estate market, it’s important to know the right questions to ask your agent or the developer. Asking questions based on your preferences helps you make informed decisions and increases your chances of choosing the right property with the best possible return on investment (ROI).
You should ask the following questions, as they will help you find the right property in Dubai.
Here are the key questions you should know and ask to help you find a good property in Dubai:
1. Is the property freehold or leasehold?
You should understand the status of the property—whether it is freehold or leasehold. A freehold property gives you complete ownership of the property and the land it stands on. In contrast, a leasehold property in Dubai means you do not own the property outright; instead, you have the right to use it for a specific period, typically up to 99 years or less.
It all depends on your preferences and needs when deciding what type of property you want to buy. If you’re interested in freehold properties, popular areas include Downtown Dubai, Palm Jumeirah, and Business Bay. On the other hand, if you’re looking to buy a leasehold property in Dubai, you can consider areas like Dubai Silicon Oasis, International City, Dubai Sports City, and Discovery Gardens.
2. Is it possible for foreigners to buy property in Dubai?
According to Dubai’s law—Article 3, Regulation No. 3 of 2006—non-residents and people who do not live in Dubai are allowed to buy property in Dubai. Only people who are 21 or above 21 can purchase property, and the Dubai Land Department (DLD) issues the title deed certificate.
Therefore, if you are a foreigner or an expat, you don’t need any local documents to buy property in Dubai.
3. In which locations should you consider buying property in Dubai?
The choice of amenities depends on your budget, the type of property you want, and your preferred location. If you want convenient access to schools, hospitals, shops, and public transportation, it’s important to choose your property location wisely.
When buying an apartment in Dubai, make sure to inspect the building’s security measures. Check for features like CCTV cameras and secure entry and exit points, and ensure everything is up to date.
If you’re planning to move to Dubai and are looking for an apartment, popular and well-liked areas include Business Bay and Jumeirah Lake Towers.
4. How much should I pay as a down payment when buying property in Dubai?
When buying a property, it’s always better to pay as much as you can up front. However, if you are a UAE national, you are required to pay a minimum down payment of 20% of the property price. For foreigners or expats, the minimum down payment is 25%.
5. Which type of developers should you choose when buying property in Dubai?
First of all, you need to decide on the property you like. Then, research the developer—check their history, the types of properties they have built, and how they handle any issues that arise. It is also important that the developer is certified by RERA (Real Estate Regulatory Agency). Additionally, gather feedback from residents living in the building you are interested in, and collect reviews about the developer’s reputation. The top developers are Emarar Properties, Sobha Reality, Meraas, and Damac Properties.
6. Which types of properties are the most popular among buyers in Dubai?
If you are a single person living in Dubai and want a small home, a one-bedroom apartment is a popular and in-demand choice. It also offers some of the best returns on investment (ROI) in the city. For families, a 2- or 3-bedroom apartment is ideal, as most people living in these larger units tend to stay long term.
7. What is the process for buying property in Dubai?
If you want to buy a home in Dubai, the process is straightforward. First, choose a property that suits your needs. Next, find a real estate agent who is certified by RERA. For a trustworthy agent, you can consider Auxilium Real Estate, one of the most reliable agencies in Dubai.
Once you have a good agent, the next step is to sign a Memorandum of Understanding (MOU) with the seller. After signing, you will need to pay a 10% deposit. Then, you must obtain a No Objection Certificate (NOC) from the developer by applying for it.
The final step is to visit the Dubai Land Department (DLD) with the seller to transfer ownership. Once the transfer is complete, you will receive the title deed for your property. After completing all these steps, the property is officially yours.
8. Can a foreigner or expat obtain a mortgage to buy property in Dubai?
If you are buying property in Dubai, you are eligible to obtain a mortgage. However, the process differs slightly for foreigners compared to nationals, and the mortgage interest rates for non-residents are generally higher than those for residents.
9. What does a title deed mean in property ownership?
A title deed is like the official key to the property you purchase in Dubai. It serves as proof of ownership, transferring the property rights from the seller to you. This document is issued and registered by the Dubai Land Department (DLD).
10. What should buyers know about reselling off-plan properties in Dubai?
If you want to resell your property in Dubai, you can do so. However, you may need to pay between 30% to 50% of the property’s value, depending on the terms and market conditions.
Conclusion
If you want to learn more or need personalized guidance, you can contact a trusted real estate agency like Auxilium Real Estate. They offer expert advice and reliable support to help you navigate the Dubai property market with confidence.
