Buying property in Dubai is a lucrative investment, but the process can be daunting for newcomers. We’ve put together a step-by-step plan to help you navigate the process smoothly.
Step 1: Set a budget
You should consider not only the cost of the property, but also additional costs: registration tax (4% of the price), agent commission (2%), and title transfer fees.
Step 2: Find a real estate agent
Working with a licensed agency will ensure the security of the transaction. Professionals know the market, will help you choose the best property, and will advise you at every stage.
Step 3: Explore the area
Determine what is important to you: proximity to schools, beaches, business centers. For families, areas such as Arabian Ranches or Jumeirah Village Circle are suitable. For investments, choose Dubai Marina or Downtown Dubai.
Step 4: Finalize the deal
After choosing a property, a preliminary agreement (MoU) is signed, a deposit is paid (usually 10%). Then the paperwork and registration at the land department begins.
tep 5: Get the keys
Once the registration is complete, you are now the official owner and can move in or rent out the property.
Conclusion
Following these steps will help you buy property in Dubai easily and safely. Work with professionals and your transaction will go smoothly.