How to buy a flat in Dubai - step by step

What can you find in the article?
 

1. The types of property available in Dubai

2. Requirements for foreigners buying property in Dubai

3. The process of buying property in Dubai

    3.1. Negotiating the price of a property in Dubai

    3.2. Taxes and fees associated with buying property in Dubai

    3.3. The procedure for finalising a property purchase in Dubai

4. Questions and answers (FAQs)

Types of property available in Dubai
 

The types of property available in Dubai are diverse and cater to the needs of different groups of buyers. In particular, you can find flats of more than 100 sqm in Dubai, which are very popular among those looking for a place to live in Dubai Downtown or Dubai Marina. In addition to this, smaller flats and studios are also available, which are an excellent choice for singles or couples.
 

For those who prefer spaciousness and privacy, luxury villas with gardens are also being built, which offer comfortable living conditions and access to private recreational spaces. With a variety of options, everyone can find a property to suit their preferences and needs in Dubai, while enjoying the various attractions in Dubai from Two Continents.

Requirements for foreigners buying property in Dubai
 

The requirements for foreigners buying property in Dubai are relatively lenient, making it an attractive option for people from other countries looking to invest in property in the region. Is it possible to buy a flat in Dubai as a foreigner? Yes, it is possible to buy a flat as a foreigner.
 

It is worth noting that there are no age restrictions and if you are a resident, i.e. a person living in the Emirates, you can simply make an offer and acquire ownership by successfully completing the sale process. All you need is a valid passport. You should also have an equity contribution and income history in case, you are applying for a loan from a bank.
 

The process of buying property in Dubai
 

The process of buying a property in Dubai may seem complex, but with the right support it can be completed without any problems. What are the steps needed to buy a flat in Dubai? To begin with, you need to find a good real estate agent. How do you find a good real estate agent in Dubai? Use our Two Continents real estate agents, who have the knowledge and experience to help you find the perfect property.
 

Then, it's a good idea to let them know your preferences and what you're looking for so they can match the right listings to your needs. With professional advice and support from our agents, the process of buying property in Dubai can be easier and more efficient.

Negotiating the price of a property in Dubai
 

Negotiating the price of a property in Dubai can be a crucial step in the buying process. What to keep in mind when negotiating the price of a property in Dubai? First and foremost, it is wise to be mindful of the additional fees associated with purchasing a property. Negotiations can apply to both primary and secondary market properties. It is also worth being aware of what is the minimum capital requirement to purchase a flat in Dubai?
 

It is also important to listen carefully and understand the other party's position and be prepared to compromise. It is a good idea to remain calm and professional during negotiations. If emotions come into play, it is a good idea to postpone negotiations. Also remember not to reveal all your concessions at once, waiting for the first major concession from the other side.
 

Taxes and fees associated with buying property in Dubai
 

What are the taxes and fees associated with buying property in Dubai? Taxes and fees associated with buying a property in Dubai are one of the most important steps in the process.
 

For primary market properties, a deposit of up to 10% of the value of the property must be paid. In addition, you will need to pay a one-off fee of 4% of the value of the property to the Dubai Land Department and for the title deed of the property under construction, which costs around AED 900. Administrative fees can reach up to AED 5,000. It is also important to pay the subsequent tranches regularly.
 

For the secondary market, after signing the contract and paying 10% of the value of the property as a deposit, it is necessary to pay a one-off fee of 4% of the value of the property to the Dubai Land Department. You will also need to sign a contract finalising the purchase, obtain a No Objection Certificate and visit the Trustee Office, which specialises in trustee services. With a planned approach, you can move smoothly through the process of buying a property in Dubai.
 

Procedure for finalising a property purchase in Dubai
 

The procedure for finalising a property purchase in Dubai involves a number of important steps that are worth understanding and following. When receiving a property from the primary market, it is advisable to conduct an inspection to ascertain any defects. The inspection is usually carried out by the owner together with the real estate agent. When the property shows no defects, acceptance can proceed. On the other hand, if defects are found, they should be reported to the developer for repair.
 

When buying from the secondary market, a key stage is obtaining the title deed. Once the property is yours, the connection of utilities must be arranged, which can also be coordinated by an estate agent.
 

Questions and answers (FAQs)
 

1. Can I buy a flat in Dubai as a foreigner?
 

Yes, you can buy a flat as a foreigner. It is worth noting that there are no age restrictions and if you are a resident, i.e. a person living in the Emirates, you can simply make an offer and acquire ownership
 

2. What to keep in mind when negotiating the price of a property in Dubai?
 

First and foremost, it is a good idea to be mindful of the additional fees associated with purchasing a property. It is also important to listen carefully and understand the other party's position and be prepared to compromise. It is a good idea to remain calm and professional during negotiations.
 

3. How do I find a good real estate agent in Dubai?
 

Use our real estate agents who have the knowledge and experience to help you find the perfect property. With professional advice and support from our agents, the process of buying property in Dubai can be easier and more efficient.