Get Settled In Your Own Property In Dubai

Get Settled In Your Own Property In Dubai

Dubai is one of the top real estate markets around the world. Because of the luxury glimpse, tourist attractions, quality lifestyle, the emirate remains on the leader-board from several years. So, you are thinking of purchasing a property in Dubai. For the expats, purchasing a property in Dubai works as a complicated process filled with several obstacles. And this thing can cripple the small time investors. But this is not the only way you should look at the things. The Dubai Land Department, as well as the legislating bodies in charge, ensure that the procedure of buying a property in Dubai is fast and smooth.

As the property market in Dubai is completely different from other parts of this world, therefore it is necessary to have an expert Dubai real estate agent to guide you through the entire procedure. While the procedure of purchasing a property is straightforward in Dubai, but in a number of cases, the immaturity of Dubai’s legal system makes it really imperative that the buyers should exercise caution while going through the major monetary transaction. It is also necessary to understand the property purchasing process and also to minimize all the risks that are associated with this process. Here are a few tips that you must consider to get your own property in Dubai.

Search for the property: For the property investors, the market outlook never indicates a sudden appreciation of capital in the near term, conducting a market research is necessary to invest in a property in Dubai with the best combination of low vacancy risk and high rental yield. For instance, one bedroom and studio apartments include higher yields than the large villas and three bedroom apartments. In case you are purchasing the property for self-use, it is necessary to set up your budget and identify all the key locations on the basis of the vital requirements like distance to the workplace, the actual size of the unit, retail, public transport and school.

The equity contribution of purchasing a property is not only limited to the value of the property less than the amount of home loan. This also includes some other elements like as the loan arrangement fees, registration charges and the brokerage fee that can justify another 7 or 7.5% of the total price for purchasing the property. Therefore, you must set a budget right from the very beginning of the process to have a proper research. It means, being a buyer, you should always zero on a property in Dubai on the basis of unit type, budget, available facilities and other important metrics.

Selection between secondary and off-plan market: One of the early steps to purchase a property in Dubai is to decide whether you want to invest in an off-plan or under-construction property from a developer or you want to opt for the resale or secondary market from an agent or the property owner. Factors like the availability of capital and the purpose behind purchase play important roles in choosing the right type of property.

Legal framework: Irrespective of the nationality, anyone whether a Dubai local or based overseas can invest in the free ownership property market of Dubai in the designated areas authorized by the Ruler of the Emirate of Dubai. There is no requirement of holding any kind if residency or any other permit to invest in a land or home in Dubai.

Time-frame: Usually, a property transaction takes around 30 days on an average in Dubai to complete. It starts from the day when the agreement is signed.

The procedure of purchasing a property: Dubai mainly has straightforward rules and regulations for purchasing properties.

These mainly include:

  1. Agreement terms of both the seller and buyer
  2. A signed MOU or “Memorandum of Understanding” and a payment deposit of 10%
  3. Meeting of both the parties at the property developer’s office to apply for a NOC or “No Objection Certificate” to sell a property
  4. Here the NOC is issued by the developer against a certain amount of payment as a service charge.
  5. After the issuance of the NOC, both the parties can visit the Dubai Land Department office to transfer ownership officially. Here the officials demand the payment of the property acquisition price to the seller as the manager’s cheque right at the transfer date. After completion of all the formalities, a fresh title deed is prepared in the buyer’s name.
  6. If a buyer purchases a mortgaged property then having the involvement of the bank is important. On the contrary, if the seller has a mortgaged property, then it is important for the buyer to settle things completely before applying for the “No Objection Certificate”.


Here are the fees that are usually applied to real estate transaction in Dubai:

  1. NOC fees: This fee ranges between AED 500 and 5,000 and it is to be paid to the property seller. Some of the property developers also charge a certain amount of repayable deposit that is refunded only when the property buyer offers the fresh legal document at the office of the property developer.
  2. Commission of the real estate agent: It is 2 percent of the total purchase price of the property
  3. Mortgage Registration fees: It is estimated at the rate of 0.25% of the total loan amount registered and therefore it is remunerated to the Dubai Land Department.
  4. Transfer fees: These fees are estimated at the rate of 4 percent of the total purchase price of the property along with an added amount that is paid towards the admin fees not in the surplus of AED 5,000. These fees are also remunerated to the land department of Dubai.
  5. Annual Service Charge: Property developers often ask for this fees beforehand and in this case, the buyers should give a reason for the pro-rata share upfront.

Necessary document required:

To purchase a property in Dubai, the buyer needs to have an original passport.

Photo Credit: Pixabay

About the Author:

Ashly is a creative writer in, a leading online holiday marketplace in Dubai, UAE.

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