Dubai’s property market is, in fact, not only for billionaires. Sure, you can splurge on a villa with a private beach on Palm Jumeirah for $27.2 million, but you can also snag a chic studio apartment in Jumeirah Village Circle for under $136,000. There’s something here for every budget.
Here’s another jaw-dropper...
Owning property in Dubai could land you a Residency Visa. Invest the right amount, and you could be living tax-free, sipping coffee and staring at the Burj Khalifa from your living room window.
And even better, Dubai’s real estate process is surprisingly streamlined - Developers even allow you to purchase the property ONLINE, by paying the full amount or even paying monthly installments - and this provides you with the SPA (Sales Purchase Agreement) and OQOOD Certificates.
IMPORTANT: Every payment you make goes directly to the developer’s or property owner’s account, ensuring security and peace of mind.
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Here are some Common Topics About Owning Property in Dubai:
Off-Plan vs. Secondary Market: Choosing What Fits You Best
When buying property in Dubai, your first decision is between off-plan and secondary market (ready-to-move) properties. Understanding the differences can help you make the right choice.
Off-Plan Properties:
Off-plan properties are homes sold before construction is completed. Buying early often means better pricing, flexible payment plans, and strong potential for capital appreciation by the time of completion.
- Affordable entry and flexible payments: ideal for investors looking to maximize returns.
- Customization options: choose layouts and finishes that suit your lifestyle.
- SPA (Sales and Purchase Agreement): a legally binding contract between you and the developer, detailing the property specifications and payment schedule.
- OQOOD Registration Certificate issued by the Dubai Land Department (DLD), ensuring the property is legally registered in your name.
Buying off-plan is perfect for those who want to grow their investment alongside Dubai’s booming real estate market.
Secondary Market (Ready-to-Move-In) Properties
Secondary market properties are completed homes, already owned by individuals or investors, and ready for immediate handover.
- Instant move-in or rental income: great for end-users or investors seeking fast returns.
- Full visibility: inspect the actual property before making a decision.
- Title Deed Transfer: ownership is legally transferred through DLD, and you receive the Title Deed confirming your ownership.
- Flexible mortgage options: making it easier to finance your dream home.
Choosing between off-plan and ready-to-move-in depends on your personal goals: invest now for future growth or move in right away and start living your Dubai dream.
Freehold vs Leasehold Properties
Freehold
- Full Ownership: You own the land or apartment unit outright.
- No Expiration: Ownership is permanent.
- Right to Modify: In villas, you can renovate or modify as you wish (subject to community rules).
- Freehold Areas: In Dubai, freehold ownership is available in designated Dubai neighbourhoods like Palm Jumeirah (one of Dubai's best islands), Downtown Dubai, and Dubai Marina (home to some of the best things to do in Dubai).
Leasehold:
Key Features:
- Limited Ownership: You lease the property but do not own the land.
- Lease Term: After the lease term ends, ownership reverts to the landowner.
- Restrictions: You may need permission from the landlord or developer for major renovations or modifications.
- Leasehold Areas: Leasehold properties are typically found in older neighbourhoods or areas reserved for UAE nationals, such as Al Karama or Al Satwa.
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Profit Potential:
- A Studio Apartment in Dubai Business Bay or Downtown costing AED 500 000 ($135000) generates NOT LESS than AED 60000 - 75000 ($16,500 - $19,500 USD) Annually in Rental Income.
Additional Costs to Keep in Mind
- Agency Commission: 2% of the property price.
- Mortgage Registration Fee: 0.25% of the loan amount + AED 290 ($79 USD) admin fee.
- Valuation Fee: AED 2,500–AED 3,500 ($680–$950 USD) for mortgage buyers.
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Key Tips for Buyers
- Verify the Seller: Always ensure the seller is the legal owner of the property.
- Understand Service Charges: Check annual maintenance/service fees, especially for apartments.
- Research Developers: Choose properties by reputable developers like Emaar, Nakheel, or DAMAC.
- Plan for Long-Term: Consider rental yields, future area developments, and resale potential.
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Types of Residency Visas for Property Buyers
A. 2-Year Investor Visa
Eligibility Criteria:
- Minimum investment of AED 750,000 ($204,000 USD) in a freehold property.
- The property must not have a mortgage exceeding 50% of its value.
- The property must be ready for handover (off-plan properties don’t qualify).
- Validity: 2 years, renewable.
Benefits:
- Right to live in the UAE.
- Access to local services like utilities, banking, and education.
B. 10-Year Golden Visa
Eligibility Criteria:
- Minimum investment of AED 2 million ($544,500 USD) in freehold property. Can include multiple properties that collectively meet the AED 2 million ($544,500 USD) threshold.
- The property must be free of loans or mortgages.
- Validity: 10 years, renewable.
Benefits:
- Long-term residency for the investor and their family.
- Full access to UAE services and infrastructure.
- No need for frequent renewals, allowing for long-term planning.
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Application Process
Step 1: Purchase an Eligible Property
- Buy a property that meets the minimum investment value and is located in a freehold area (e.g., Downtown Dubai, Palm Jumeirah, and other best places to visit in Dubai with high land value appreciation potential).
- Ensure the property is ready for handover and fully paid (if required for the visa type).
Step 2: Title Deed and Proof of Ownership
- Obtain the Title Deed from the Dubai Land Department (DLD) as proof of ownership.
- The property must be in the name of the applicant (co-owned properties qualify if the applicant’s share meets the minimum required investment).
Step 3: Apply for a Residency Visa
- Submit your application through the General Directorate of Residency and Foreigners Affairs (GDRFA) or through a government-approved typing center.
Required Documents:
- Passport copy.
- Title Deed issued by the DLD.
- Proof of property value (DLD evaluation report if needed).
- Bank statements (for financing verification).
- Proof of income or financial stability (for certain visa types).
Step 4: Medical and Emirates ID
- Complete the mandatory medical fitness test.
- Apply for the Emirates ID, which serves as your residency card.
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Do you have more questions? Probably you do!
Would you like to Speak with a Dubai Real Estate Expert? They will MAKE SURE that your purchase is successful and legally binding, just like you EXPECT and NEED.
