Buying in Dubai
The buying process in Dubai differs to that in the UK in that it is more straightforward.
The Purchasing Process
• Once you have made the decision to buy a property in Dubai you should complete the designated reservation form and return it us.
• This should be followed by a reservation payment (the amount is development specific). This secures your property and brings it off the market.
• You are then issued a Sale and Purchase Agreement (contract). You are given a specific execution date, by which you should ensure that Sale and Purchase Agreement has been signed and returned, along with the required deposit payment.
• On receipt of signed documentation and cleared payment you are immediately issued a countersigned contract.
• You will then continue to make payments in accordance with the specific developments payment schedule.
Legal Advice
You are not required to instruct solicitors when purchasing property in Dubai. Although we are able to recommend independent solicitors should you wish.
Property Taxes
There are no government taxes (for example stamp duty) payable when you purchase a property in Dubai.
However, when the Dubai Lands Department registers the title of your property, you will then be required to pay a small charge, based on the purchase price of your property. The property developer will assist you with this process.
Annual Service Charge
When your property is complete is payable by you an annual minimum service charge, which is specific to the development. The service provided under the annual service charge varies in each development, but generally covers your maintenance, landscaping, access to facilities and refuse collection. Speak to your Sales Advisor for further advice.
Residency Visa
With the purchase of an apartment you are entitled to apply for a residency visa relating to your specific unit, in accordance with the latest immigration regulations. Speak to your Sales Advisor for further advice.
