Things to check before buying property in Dubai | Gofabby

Things to check before buying property in Dubai

Buy property in Dubai

Registered properties anywhere are assets that can add to your wealth. Whether it be flat, office space, home apartments, or villas, property in any form at any place is beneficial. Earlier, owning property in Dubai was restricted only to locals but now with new land laws, Dubai government allows even expatriates to buy and sell their land.If you have any intention to own land in the dream city, there are certain things to keep in check before buying property. Dubai allows expatriates to buy property but there are certain norms for choosing the land. There are freehold and leasehold land available. Both expatriates and locals can buy property in freehold area, which consists of 23 areas and nearly 50 plots at key centers including Dubai Marina, The World Islands, Palm Island, and Jebel Ali port.

  

Read more : Affordable Places for rent in Dubai


The law legalizes land ownership to Dubai, GCC and non-GCC citizens and the major projects handed over till now are done by Emaar Group and Nakheel Group. With the new move, the owner is entitled to enjoy full rights on the property including title deed. This is exceptionally for the freehold areas. Now, coming to leasehold land, as the name suggests, can only be leased and ownership is solely for the locals. So on buying, check with the developers or agents on the criteria of chosen land.Property can be bought straight from developers or through secondary agents. The former might be lengthy while the agents can do the paper works more easily and make things move smoother. In the latter case, the standard agent’s fee stands at 2 percent of the purchase amount. Make sure to confirm the developer and project are registered in Dubai Land Department. In addition to agent fee, there is registration fee imposed by Dubai Land Department, which was earlier 2 percent, but now made to 4 percent of the purchase amount. The amount is paid through manager’s cheque. The registration is done at Registration trustee office. So there happens to be the trustee fee, which is either Dh 2000 or Dh 4000 depending on whether the sale amount is below or above Dh 500,000.


People buy property in Dubai mainly for two reasons. One is for investment, which can bring profit and huge wealth. The tax-free process and easy transparent process attract lots to buy land as an investment. The area is changing rapidly and witnessing world class developments being home to top companies do make up the minds of investors for the glory Dubai can bring tomorrow. Another reason for buying in Dubai is for personal purposes. People love the luxury and high standard amenities the land provides. It inspires people to lead a quality life and to raise their younger ones in such polished background. So, select region according to your needs. For financial gain, concentrate on industrial or office spaces and for personal needs, try settlement areas, such as Jumeirah Beach Residence.  


For financing, banks offer sums with attractive rates for any person aged in between 21 and 65 with a minimum monthly salary of AED 15 000.  With the winds favoring investment and properties constructed by reputable builders, the chances are high that you get worthy properties. Gofabby, a classified website offers best areas and properties to pick from the lot. It presents the properties in each area separately and systematically. Make use of the site to choose your comfortable spaces and get those delivered effortlessly.

 

 

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