Buying a Property
When imagining the perfect dream vacation, Dubai often emerges as the top destination, a wonderland filled with picturesque beauty and an ideal retreat.
Dubai is an exceptional place to live and work for many reasons, including its high standard of living, tax-free property and business benefits, and a lifestyle enriched by world-class malls, shopping centers, fine dining, exclusive beaches, and breathtaking desert landscapes. Its rich cultural heritage adds even more allure.
The real estate market in Dubai is thriving with numerous investment opportunities in both the off-plan and ready property sectors. The secondary real estate market has seen unprecedented growth, with record-breaking transactions reported regularly by the government.
Similarly, the off-plan sector is booming, with numerous waterfront and beachfront townhouses, villas, and apartments being sold by the top developers in Dubai, often offering flexible payment plans to investors.
An Investor's Checklist when
Buying a Property in Dubai
Are you partnering with the right broker to guide your real estate investment?
The real estate industry in Dubai differs significantly from that in other countries. Therefore, it is essential to work with a reputable, trusted real estate agent who is registered with the Dubai Real Estate Authority (DREA) and the Dubai Land Department (DLD). Before sharing any requirements or initiating the purchasing process, always ask for the agent’s real estate license to ensure they are qualified to represent you.
What kind of return can I expect on my investment?
When you buy a piece of real estate, the last thing you want is for its value to decrease over the course of time. Is there a possibility that the value of the property will decrease over time? Do you intend to retain this for the rest of your life or sell it after a certain number of years? Depending on your use of the property, you should never forget to ask this question to the real estate broker you are working with to set your expectations before your purchase. Typically, the average rental return one can expect on a property is between 5% to 10%.
Are foreigners permitted to have 100% ownership of property in Dubai?
In the past, only citizens of the United Arab Emirates were allowed to legally own property in Dubai. On the other hand, in 2006 the government approved Regulation No. 3, which established defined regions in which non-citizens are permitted to own property. In these places, the purchase of property with freehold ownership by non-locals is permissible. Major freehold estates may be found in most areas of “new Dubai,” including Dubai Marina, Palm Jumeirah, Jumeirah Lakes Towers, and Emirates Hills, amongst others.
How much time does it take to purchase a piece of real estate?
When you buy a piece of real estate, the last thing you want is for its value to decrease over the course of time. Is there a possibility that the value of the property will decrease over time? Do you intend to retain this for the rest of your life or sell it after a certain number of years? Depending on your use of the property, you should never forget to ask this question to the real estate broker you are working with to set your expectations before your purchase. Typically, the average rental return one can expect on a property is between 5% to 10%.
What are the amenities in the location?
In the past, only citizens of the United Arab Emirates were allowed to legally own property in Dubai. On the other hand, in 2006 the government approved Regulation No. 3, which established defined regions in which non-citizens are permitted to own property. In these places, the purchase of property with freehold ownership by non-locals is permissible. Major freehold estates may be found in most areas of “new Dubai,” including Dubai Marina, Palm Jumeirah, Jumeirah Lakes Towers, and Emirates Hills, amongst others.
When will I get my proof of ownership?
When you buy a piece of real estate, the last thing you want is for its value to decrease over the course of time. Is there a possibility that the value of the property will decrease over time? Do you intend to retain this for the rest of your life or sell it after a certain number of years? Depending on your use of the property, you should never forget to ask this question to the real estate broker you are working with to set your expectations before your purchase. Typically, the average rental return one can expect on a property is between 5% to 10%.
What are the extra charges when buying a property?
In the past, only citizens of the United Arab Emirates were allowed to legally own property in Dubai. On the other hand, in 2006 the government approved Regulation No. 3, which established defined regions in which non-citizens are permitted to own property. In these places, the purchase of property with freehold ownership by non-locals is permissible. Major freehold estates may be found in most areas of “new Dubai,” including Dubai Marina, Palm Jumeirah, Jumeirah Lakes Towers, and Emirates Hills, amongst others.
The Murex Properties Advantage
When you buy a piece of real estate, the last thing you want is for its value to decrease over the course of time. Is there a possibility that the value of the property will decrease over time? Do you intend to retain this for the rest of your life or sell it after a certain number of years? Depending on your use of the property, you should never forget to ask this question to the real estate broker you are working with to set your expectations before your purchase. Typically, the average rental return one can expect on a property is between 5% to 10%.
As an award-winning real estate brokerage firm, Murex Properties has collaborated with all the leading real estate developers in Dubai, including Emaar, Meraas, Dubai Properties, DAMAC, Nakheel, and SOBHA to name a few to maximize the opportunities that best meet the requirements of investors. This allows us to provide investors with the best possible returns on their investments.
