Can foreigners buy property in Dubai?
Yes, foreigners can buy property in designated freehold areas in Dubai. These areas allow non-UAE nationals to own property outright, with full ownership rights. Popular freehold zones include Downtown Dubai, Dubai Marina, Palm Jumeirah, and Dubai Hills Estate.
What are the costs involved when buying property in Dubai?
In addition to the property price, buyers should budget for additional costs such as:
> Dubai Land Department (DLD) fee – typically 4% of the property value
> Agent commission – usually around 2%
> Trustee registration fee and mortgage registration fee (if applicable)
These fees are payable at the time of property transfer.
What is the process of buying property in Dubai?
The buying process involves the following steps:
1. Selecting a property
2. Signing a Memorandum of Understanding (MoU)
3. Paying a deposit (usually 10%)
4. Applying for a No Objection Certificate (NOC) from the developer
5. Completing the title deed transfer at the DLD office
Is buying off-plan property in Dubai safe?
Yes, buying off-plan property is generally safe, provided you're purchasing from a DLD-registered developer. Ensure the project is approved and the developer has an Escrow account, which safeguards your investment by law until construction milestones are met.
Can I get a residency visa by buying property in Dubai?
Yes, investors may be eligible for a 2-year or 10-year UAE residency visa, depending on the property value. The minimum investment threshold is usually AED 750,000 for a 2-year visa or AED 2 million for a Golden Visa. Terms may vary, so it's best to check the latest regulations with the DLD or immigration authorities.