How to Buy Real Estate in Dubai?

In recent years, Dubai has become one of the most important destinations preferred by those who want to invest in real estate around the world. Dubai real estate market attracts attention with its attractive advantages and investment opportunities. So, what should someone who wants to buy real estate in Dubai know? In this article, we will take you step-by-step through the process of buying real estate in Dubai and we will also examine the investment amounts eligible for Dubai's Golden Visa program.

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Warsa

Posted 2024-08-16

Warsa Dubai Invesment

1. Why Buy Real Estate in Dubai?

Dubai offers a number of attractive advantages for investors. Factors such as tax advantages, high return potential, stable economy and strategic location are important motivators for those looking to buy real estate in Dubai. In addition, Dubai's developed infrastructure, modern living spaces and security make this city not only a great place to invest, but also a great place to live. also makes it an ideal place to live.

2. Things to know when buying real estate in Dubai

Buying real estate in Dubai can be a little different from other countries.
Here are some important points to be aware of:

  • Types of Ownership: There are two main zones in Dubai where foreign investors can own property: Freehold (full ownership) and Leasehold (leasehold). In Freehold zones, foreign investors can own the property outright, whereas in Leasehold zones, foreign investors can own the property for a certain period of time. for a term of 99 years (usually 99 years).
  • Legal Processes: The process of buying real estate in Dubai, Dubai Land Registry Department (Dubai Land Department - DLD). During purchase transactions, the buyer contributes a certain percentage to the DLD. must pay title deed fees. In addition, the buyer and seller The sales contract is also an important document in this process.

3. Real Estate Selection and Research Process

Before buying real estate in Dubai, you should carefully choose the area and type of property you intend to invest in. In different parts of the city, you can find properties with different characteristics. Considerations at this stage Here are some points to consider:

  • Selecting an Area: Different areas of Dubai offer different lifestyles and investment opportunities. For example, Dubai Marina offers luxury living and sea views, while Business Bay is close to the business center. Choosing an area that suits your goals and budget Important.
  • Property Type: There are a variety of property options in Dubai, including apartments, villas, commercial properties and land. To decide which type of property is more suitable for you, you should familiarize yourself with these options. you should evaluate.
  • Market Research: It is important to research the market value and future return potential of the property you want to buy. At this point, it is useful to get support from a professional real estate consultant. can be.

4. Investment Required for Dubai Golden Visa

You can get a Golden Visa by investing in real estate in Dubai. Golden Visa is a prestigious visa that offers long-term residency in Dubai type. The amount of investment required to obtain this visa is as follows:

  • Minimum Investment Amount: The minimum real estate investment required to obtain a Golden Visa in Dubai is AED 2 million (approximately USD 545,000). This investment must be made in one of the freehold areas in Dubai and the investment must be paid in full.
  • Additional Conditions: The investment must not be financed by a bank loan. That is, the property must be purchased in cash. Also, investors can reach this total investment amount by purchasing more than one property. In addition to the investment, some additional requirements must be met, such as health insurance.

Golden Visa is a long-term residence permit in Dubai for investors and their families, offers many advantages such as access to education and health services. This visa type, For those who are planning a long-term life in Dubai and want to start a business is an ideal option.

5. Financing and Payment Plans

Financing and payment plans are also important when buying real estate in Dubai plays a role. Here are some points to consider in this process:

  • Mortgage: In Dubai, foreign investors can obtain mortgages from local banks. When applying for a mortgage, banks usually lend between 50-75% of the value of the property. This rate may vary depending on the buyer's credit history and the bank's policy.
  • Down Payment: When buying real estate in Dubai, a down payment is required. Usually, the down payment ranges between 20-30% of the property value. If you are planning to take out a mortgage, this rate will vary depending on the mortgage determined by the banks at the time of application.
  • Payment Plans: In real estate projects in Dubai, developers also offers attractive payment plans. These plans are allows buyers to pay for the property in installments.

6. Procurement Process

The process of buying real estate in Dubai usually consists of the following steps:

  • Property Selection: First, identify the property you want to buy. See the property on site and assess whether it meets your expectations.
  • Sales Contract: Once the property has been selected, a sales contract is signed between the buyer and seller. This contract includes the terms of sale and details of the property.
  • Title Deed Procedures: Once the sales contract is signed, you must apply to the Dubai Land Registry to start the title deed process for the property. In this process, the title deed fee and other official fees are paid.
  • Property Delivery: Once the title deeds are completed, you can take possession of the property as the new owner.

7. Post-Purchase Processes

After purchasing the property, you need to complete some legal and administrative processes
may be required:

  • Insurance: It is advisable to take out real estate insurance to protect your property against natural disasters and other risks.
  • Management and Renting: If you intend to rent your property, you can hire a professional management company to take over the management of your property.

Buying real estate in Dubai can be a profitable investment with many advantages. Especially the Golden Visa program offers a great opportunity for those who want to live and invest in Dubai for a long time. However, managing this process correctly and taking conscious steps is critical to your success. The process of buying real estate in Dubai can be easily realized with careful planning and the right guidance. If you are considering getting professional support in this process, working with an experienced real estate consultant will be of great benefit to you. By taking advantage of the opportunities offered by Dubai, you can both secure your investment and enjoy the privilege of owning property in this dynamic city.

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