A COMPLETE GUIDE TO BUYING PROPERTY IN DUBAI 2022 FROM EUROPE
Whether it is the charm of a luxurious lifestyle or the attraction of tax-free living, moving to Dubai is a possibility that many potential foreigners have considered.
Aeon Trisl, Dubai real estate agent in the UK, presents a complete guide for foreigners willing to invest in Dubai properties from Europe.
BUYING PROPERTY IN DUBAI PROCESS
The key steps to buying property in Dubai include:
- Determine the type of property you want to buy: Dubai offers ex-pats with several property investment options including villas, townhouses, penthouses, apartments, lands and plots, and commercial spaces.
- Online search: Search online for available properties in Dubai.
- Hire a real estate agent: Contact Dubai real estate in the UK for a smooth, scam-free, and successful transaction.
- Check eligibility: To live in Dubai, make sure that you have a steady salary and have all the legal documentation required to live there.
- Select a property.
- Pay the deposit.
- Get a home loan: If required, get a mortgage from a reputable financial institution.
- Transfer deed and pay land registry tax
RULES FOR BUYING PROPERTY IN DUBAI FOR EX-PATS
The main reason behind the popularity of Dubai real estate among ex-pats is that the UAE’s Government has revised many rules that made it difficult for foreigners to invest in Dubai. Since the procedure is quite uncomplicated now, so this is the best time for ex-pats to invest in Dubai real estate.
The two ways through which foreigners can buy property in Dubai include:
- Purchasing an off-plan property through a real estate investment firm or directly from the developer
The steps include:
- A reservation form is filled which includes the personal details of the seller and the buyer, terms of the sale agreement, and how the payment will be made.
- The sale and purchase agreement is made after a 5-20% deposit. The agreement is legally binding.
- Getting the mortgage by buyer (optional)
- The property deeds are transferred to the developer’s office. During this step, the buyer pays the full price of the property.
- Buying from a private seller
The phases of the process are quite straightforward:
- Terms and conditions are agreed upon between the seller and the purchaser.
- The signing of MOU (Memorandum of understanding) between the two parties. MOU set out the terms of agreement for clarity but is not legally binding. A 10% deposit is usually paid.
- Getting the mortgage by buyer (optional)
- Transfer of deeds. At this stage, the purchaser needs to pay the full purchase price of the property.
Aeon and Trisl, a Dubai real estate investment firm, is currently the leading Dubai real estate agency in the UK. It is an award-winning and highly experienced team that offers UK residents expert advice on purchasing, investing, and managing real estate in Dubai. Aeon Trisl is the best when it comes to purchasing residential and commercial properties in Dubai from the United Kingdom. So if you live in the UK and are searching for a property to invest in Dubai or are willing to move there, then Aeon Trisl Dubai real estate agency in the UK is the best option for you.
Searching for the best Dubai real estate brokers near me in the UK?
Aeon and Trisl, Dubai’s real estate investment firm, is offering its real estate services to people looking forward to investing in Dubai from the UK. We strongly believe that a successful property purchase in Dubai always starts with a good agent. Real estate business is a complex and continually changing business, and Aeon Trisl brokers are trained and educated in its many rules, regulations, and standards. We have the inside exclusive on different Dubai neighborhoods, this also means that you will not have to deal directly with the prospective sellers or developers, which may save you some tension. So to buy property in UAE from the UK, contact Aeon Trisl, the most reliable and trustable Dubai real estate broker in London.
IS IT WORTH BUYING A PROPERTY IN DUBAI?
Indeed, it is. Property prices per square foot in Dubai are lower compared with cities alike around the world. This makes Dubai, UAE a reasonable location for having your primary real estate. Moreover, Dubai offers higher rental yields when compared with several other mature real estate markets. Investors can attain rental yields of an average of 5-9% simply by putting their properties on rent. Last but not the least, Dubai’s real estate is expected to see a surge in property prices with the coming of EXPO 2021. This will enable the property owners to resell their houses for a tidy profit once the EXPO is over.
CAN A FOREIGNER BUY A PROPERTY IN DUBAI?
Ownership of freehold properties in Dubai by foreigners:
With the revision of laws that made it hard for ex-pats to own a property in the UAE, it is now quite easy for foreigners to invest in their dream town, Dubai. From a residential perspective, foreigners can have the ownership of properties in the freehold areas of Dubai. These properties allow the foreign investors to make amendments to their properties and 100% ownership and control of their assets, including leasing and selling the properties to other interested individuals. A freehold property consists of one of the 23 specific areas in Dubai that allow you to purchase a property in Palm Jumeirah, Al Barsha South, Sheikh Zayed Road, Dubai Marina, Jebel Ali, and other such places.
Ownership of leasehold properties in Dubai by foreigners:
On the other hand, ex-pats can also invest in the leasehold properties of Dubai. In this type of investment, the ex-pats get the living rights on a leasehold property for a specific period, which can be no more than 99 years. During that time, no changes can be done to the property. However, the contract may also be renewed with the same owner.
So if you want to invest in Dubai from either Saudi Arabia, Qatar, Bahrain, Oman, Malaysia, Singapore, Hong Kong, Japan, China, Pakistan, India, Bangladesh, Afghanistan, England, Spain, Turkey, Italy, Switzerland, Ukraine, Finland, France, Germany, Netherland, Australia, Austria, Canada, USA, etc. then contact Aeon Trisl, Dubai real estate agency, as we are the best when it comes to real estate investment in Dubai by foreigners.
Buying Property In Dubai From UK
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