People who have made the decision to move to Dubai, be they citizens or residents, typically think about securing their future and that of their family by buying real estate in it. Options include apartments in a residential building, villas, townhouses, and other varieties. Once they know the cost of purchasing property in Dubai, they must then acquaint themselves with the legal procedures involved – failure to do so might lead to major issues. In this article we offer information on all relevant conditions and fees for buying real estate in the Emirate of Dubai.
The Emirate of Dubai is always striving to facilitate the means of living for its various residents, and it has thus created an exclusive ownership area for Emiratis and citizens of the Gulf Cooperation Council countries in Dubai that allows them to buy real estate in Dubai. The emirate has also identified special areas where foreigners can purchase real estate. Perhaps the most prominent ones are Dubai Marina, Downtown Dubai, and Palm Jumeirah.
Having sufficient money to purchase Dubai real estate is not the only thing required. The Emirate of Dubai sets out laws which dictate what property is eligible for freehold ownership and other provisions, therefore anyone wishing to invest must take the time to view all applicable regulations and be aware of the distinction between freehold areas and the free zone. To provide in-depth coverage of this, we will explore these differences further in upcoming articles.
Dubai’s law on foreign ownership of real estate allows them to:
- An absolute right to own a property without time restrictions
- The right to use or lease the property for a period not exceeding 99 years in the areas designated by Dubai Land Department.
- A Dubai property can be purchased by anyone regardless of their age.
- Dubai property buying procedures
The Dubai Land Department is the authority responsible for overseeing the real estate ownership process in the emirate. It decides who can purchase a property and when possession can be transferred to the buyer, acting as a middle man between purchaser and seller. This facilitates investors in understanding the purchasing procedures for property in Dubai, as well as offering an array of services such as submitting requests for property evaluation, residential or commercial plots, buying homes in Dubai and any necessary registration of sale. We will focus on this subject in much greater detail later.
- Developers must issue a no-objection certificate through the Dubai REST application, which is one of the best real estate applications in Dubai.
- To prove identity, both the seller and buyer must present the Emirates ID. If the Emirates ID is not available, a valid passport for non-residents must be presented.
- A legal power of attorney, if someone is acting on their behalf
- Seller: 2% of the sale value
- Buyer: 2% of the sale value
- Fees for issuing ownership certificates are 250 AED
- Fees for issuing land plans are 100 AED (250 AED for villas and apartments).
- For each drawing, there is a – 10 AED innovation fee
- For each fee, there is a knowledge fee of – 10 AED
Fees charged by the registrar
- 4,000 AED if the sale value exceeds 500,000 AED
- If the sale is less than 500,000 AED, the fee is 2,000 AED
Procedures for service:
You can purchase a property through customer service centers in Dubai (Real Estate Registration Trustee Offices) or through the Dubai Rest application.
Visit one of the service centers, specifically the real estate registration office
Make sure the required papers and documents are submitted to the department employee without any errors
Real estate purchase transaction data will be entered into the department’s system, checked, and verified
Get a receipt after paying the fees
An email will be sent to the customer with the output of the process