A guide to buying property Dubai.

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A guide to buying property in Dubai

Dubai has the same positive attitude foreign investment as it does to business, with the most lucrative property market in the world.

Buying a property is easy with little red tape. Most buyers will go through an agent as opposed to dealing direct with the developer as you get a clearer and less biased opinion with regards to where and which property to buy. we deals with agents based in Dubai, meaning you always have a local source to deal with.


Anyone can buy in Dubai and the vast majority of purchases tend to be off-plan – buying the property before it is completed, allowing the buyer to get a better price. Do note that during the course of buying off-plan a buyer can sell the property to another buyer after having paid at least 20% of the agreed price. Some developers will charge a transfer of documents fee, usually 3%.

All new developments come with a freehold title there are still leasehold developments available but they are not a cause for concern and should be treated the same as a freehold property. Property can be passed on in inheritance and leases can be renewed with minimal fuss and expense.
It is not really essential to take legal advice as the contract will outline everything for you, but it is, of course essential to read it thoroughly before you sign. If however you are buying a property over 5 years old then take some advice through a local solicitor who can advise you on what to look out for and prepare a contract for both parties. With new developments, contracts are prepared for all buyers with payment and completion dates clearly outlined. It is important to note when the contract states the ‘Master Builder’ is expected to finish. All new developments approved by the government will be handed over to ‘Master Builders’ whose main job is to lay in the infrastructure and provide all services having divided the plots in to ‘parcels’. Some or all are sold on to private developers. If you buy through a private developer they can only start work when the ‘Master Builder’ hands the parcel of land over to the private builder. If there is any delay in laying down the infrastructure, this will in turn delay any project for the private developer. It does not happen often but it can cause many issues if the contract has not been read properly by the buyer.


Organising the funding for your purchase in the UAE has, in the past, always been done in the UK. This however has changed and new laws have relaxed the lending process to foreigners. Most of the new developments will come with a pre-approved mortgage on the development as the bank will have in some way guaranteed the project. Obtaining a UAE mortgage with one of the bigger banks is a fairly easy process. You will usually expect to pay a higher deposit of around 30-40% of the purchase price and undergo a credit check. The UAE banks will expect to see one year’s bank statements and existing loan details. Mortgage interest rates are usually a little higher than the UK at around 7-9% but this is off set against rental values which currently are around 12-15%. Renting is the best way of achieving and maintaining a profitable income through your property in Dubai. Standard rental rates are high and this is in a large part to the shortage of decent property, a high influx of long term contracts workers and the fact that all incomes are tax free, thus ensuring high incomes and high rental yields. All rent must be paid up front for the year, usually in the form of 3 or 4 cheques.

Buyers do not need a local bank account to arrange purchases and payment transfers although opening one is very easy and helps when transferring funds from your account to the developer. There is no Capital Gains Tax to pay although if you are transferring funds from the sale of a property back into the UK then do get advice before making the transfer. With nearly all new developments a residency visa will be granted for the buyer and family. These will need to be renewed at a later stage.

Holding Deposits.

All sellers insist on a holding deposit to secure the property. This is normally in the region of 10,000 AED (approx £1,500) It is non refundable unless the seller pulls out.

Map of Dubai, United Arab Emirates

A map of Dubai, United Arab Emirates. Click to see the map on MSN Maps & Directions


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You can Contact us by clicking here
or Tel: Office
(0034) 96-679-0844 or 679-779-122 or UK Office 0871-2844-683
(Calls are at the UK National Rate and for this)


A guide to buying property Dubai.  UAE