BUYING A PROPERTY IN DUBAI

Purchasing a property might seem like a straightforward process, but having a seasoned property consultant at your side can truly maximize the value of your investment. Take a moment to learn from Ocley's leading real estate mavens, Vasia Koutroumpanou and Elif Best. In just under 90 seconds, they'll guide you through five crucial tips for purchasing property in Dubai. With their expert insight, your journey to owning your dream property will be smoother, smarter, and far more rewarding.

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SIGNATURE HOMES

PROPERTIES FOR SALE PROPERTIES FOR RENT HOLIDAY HOMES

FREQUENTLY ASKED QUESTIONS

First, you need to determine your budget and what type of property you want to purchase. Then, with the help of a real estate agent, you can start viewing properties. Once you've found the right property, you'll negotiate the price and sign a Memorandum of Understanding (MoU). Then, you'll need to secure a mortgage if necessary. The final step is the property transfer at the Dubai Land Department, where you'll pay the purchase price and receive the title deed.

Yes, foreigners can own property in Dubai. The government has designated certain areas as "freehold" zones, where non-UAE nationals can buy, sell, and own property. Outside these zones, foreigners can lease property for up to 99 years.

Buying a property in Dubai includes fees such as a 4% Dubai Land Department transfer fee, a 2% real estate agency fee, a 0.25% mortgage registration fee (if you're taking a mortgage), and an AED 8,000 conveyancing fee. These fees can change and it's advisable to check with your real estate agent or legal advisor for the most accurate information.

The rental yield in Dubai is subject to fluctuations based on several factors, including the types of properties in your portfolio, your distinct investment strategy, and your personal risk tolerance. Generally, you can expect a yield of approximately 4-6% for properties with long-term tenants. However, this figure can increase to between 7-9% for properties managed by a dedicated holiday homes provider like Ocley Homes.

Dubai's property prices exhibit remarkable diversity, dictated by both location and property type. Options range from affordable studios in peripheral areas starting at AED 250,000 to lavish Palm Jumeirah villas soaring to AED 400M.

Dubai's Golden Visa offers long-term residence to property investors, among others. As a property investor, you must invest at least AED 2.1 million in real estate, and the investment must not be loaned. The property must be retained for at least three years. The Golden Visa is granted for ten years and is renewable.