The property market in Dubai is booming and constantly developing; new, exciting construction projects are constantly emerging in this international business location and are particularly worth investing in.

Basically, buying a property in Dubai is not too different from buying a property in other European countries. An official purchase contract is drawn up and the corresponding security is provided via the land register entry. The land register entry is made via the Dubai Land Department.

Nevertheless, there are also major differences compared to buying property in Europe. These include payment and financing, the detailed purchase process and the speed of the market. For this reason, it makes sense to seek the help of local experts when buying a property.

Foreigners can generally finance their property in Dubai, but an equity share is required. As a rule, this must be between 40-50% of the total purchase price. 

 

The purchase process can vary slightly from property developer to property developer, but essentially consists of the following steps:

 

Reservation and down payment of the property

Once you have made your selection from the available property units, you reserve them by completing the relevant form and paying the agreed deposit - usually 5% to 10% of the total purchase price plus any registration fees for the Dubai Land Department.

Payment can be made either by credit card or bank transfer to the escrow account of the relevant project/developer.

 

Issuing and signing of the pre-purchase agreement

Upon receipt of the reservation and deposit, the property developer will provide you with the actual property purchase agreement in duplicate or send it to you by courier. After signing, you return one copy to the property developer. After the property purchase agreement has been signed by both parties, the developer will register it with the Dubai Land Department and send you the provisional certificate of ownership issued by the authority.

Until the property is completed, you will make the contractually agreed instalments on the agreed dates.

 

Completion and handover of the off-plan property

Upon completion of the property, the developer will ask you to pay the instalment agreed at that time and to take possession of your property.

After you have inspected the property, the property will be handed over to you together with all documents, keys and other items and you will receive the final certificate of ownership from the Dubai Land Department.

We always recommend that you consult a local lawyer for the entire process and possible loan application, who will check and handle everything for you. 

 

 

Almost everywhere in the world, additional costs are incurred when buying a property. These usually consist of various fees and taxes, e.g. property transfer taxes. Here again, Dubai has a decisive advantage for you as a buyer, as the additional costs are comparatively low.

When buying an off-plan property, there are only 4% additional purchase costs for the DLD (Dubai Land Department / "land register entry", approx. 4% of the purchase price. In some cases, there are also some smaller fees as part of the transaction, e.g. transfer fees and fees for securitisation. These depend on the specific project, among other things. When buying an off-plan property, there is no estate agent's commission.

 

About the market in Dubai

 

A thriving property market!

The property market in Dubai has experienced unprecedented growth in recent years. The city is a magnet for investors from all over the world, and off-plan property plays a crucial role in this dynamic landscape.

 

Financial benefits

Off-plan properties are much cheaper than completed properties. In addition, many property developers offer attractive payment plans and financial incentives. Buying property off plan gives you the opportunity to realise a substantial return on investment if the value of the property increases immensely after completion. With our experience and expertise, we can help you select the best properties.

 

First-class properties
Dubai is known for its high-end architecture and luxurious lifestyle.  Properties off plan in Dubai are no exception. We offer you access to the top 50 off-plan projects that meet the highest quality standards and are located in the most desirable locations in the city and built by the largest property developers.

 

Important considerations when buying property off plan
Legal aspects
There are certain legal aspects to consider when buying property off plan. In Dubai, the rights and obligations of buyers and property developers are clearly defined in laws and regulations. We take care of these details so that you can invest with peace of mind.

 

Looking to the future

Experts predict that demand for off-plan property in Dubai will continue to rise. As property experts, we always have our finger on the pulse and offer you the opportunity to benefit from this growth.