The Buying Process:
The buying process in Dubai is simple; there are no taxes in the Free Zones.
Here we have simplified the buying process for you:
- You give us your property requirements
- We arrange a viewing trip to view a selection of properties that match your requirements or we send you details of the properties that you have chosen from our website.
- We arrange a meeting with our recommended mortgage advisor either in the UK or in Dubai.
- You place a deposit to secure the property purchase, usually around £1500 depending on the development.
- Within one month you pay the 1 st instalment, usually a set percentage of the purchase price depending on the development you are purchasing.
- You sign a contract from the developer within one month of placing the deposit
- Instalment payments are agreed at certain development stages
- The property is now yours
- A service charge is payable annually upon completion of the development, the amount is dependant upon which development you have purchased.
Once you purchase a property in Dubai you receive a free resident’s visa which allows you to stay in Dubai for as long as you like.
Most developments are off-plan, which means you will sign the purchase agreement direct with the developer and normally pay in instalments at an agreed stage of the development. The only fee to pay on completion is land registry of 1.5%.
There is normally no need to employ the services of a solicitor or conveyancer as Dubai’s government has chosen only reputable developers and keeps a tight control on development agreements and, most developer agreements are non-negotiable. However if you have any doubts about a property agreement then it is advisable to instruct an International Lawyer, which we can recommend some to you.
Rental income at the moment is between 8-10%, capital growth on average is 15%.
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