Buying real estate in Dubai, UAE

Buying real estate in Dubai Makebiz

Every year the UAE is increasingly chosen as a place for comfortable living, business and investment. Along with the demand for real estate is growing and its prices. With such rates, the average payback period for commercial and residential properties is considered to be about 8 years.

Laws and legal regulations of the state have no special restrictions on the purchase of real estate for foreigners, and also provide legal protection of the rights of such investors on a par with local investors.

Among the most popular locations for the purchase of housing and the introduction of investments should be noted areas: Dubai, Abu Dhabi, Sharjah and Ras-El-Khaimah. Each of them has its own taxation system, so it is extremely important to keep up to date with the latest information.

It is worth remembering that there are some exceptions and benefits for foreigners. For example, a double tax treaty or an income tax exemption on the purchase of new real estate. These and other types of exclusions can be discussed in a free consultation with a specialist.

Each neighborhood has its own required documentation package. The real estate purchase process is accompanied by a licensed broker and consists of basic steps:

  • selection of the property (possibly remotely), based on needs and wishes;
  • legal verification of the contract;
  • signing of the purchase and sale agreement containing information on the address, value and size of the object and the terms of the transaction;
  • obtaining a certificate of no objection from the bank in case of mortgage purchase;
  • Registration of the title of ownership at the Dubai Land Department.
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