Introduction - Purchase & Living cost - Buying guide
Letting - Other Information - Back to Buying Guide menu

Introduction

People from all nationalities can purchase property in Dubai (currently more than 185) and it is fast being developed into the most modern city in the world. With no tax, great weather and superb modern architecture Dubai is enticing people from around the world to buy property.

Purchase & Living Cost

Payment Terms

Payment terms for each project varies, but tends to be a 15% or 20% deposit followed by staged payments linked to the build stage of the property. We have included a separate sheet detailing payment terms for each project that Aquavista markets.

 

Purchase Tax

There is no Purchase Tax in Dubai.

Other Expenses

Sales Registration Charge for purchaser 1.5%. There is a sales charge of 2% of which the buyer pays 1.5% and seller pays 0.5% to the Dubai Lands Department, which registers the movement of real estate exchange.

Utility charges are at actuals.

Maintenance Charge

There is an annual maintenance charge payable by the property owner to the association which comprises all the homeowners of the project. The Association has a President and Manager who manage the day-to-day maintenance of the project. They are responsible for maintaining the accounts which would be audited and a copy made available to every homeowner.

 

Contracts detail that the contribution of every owner is up to a maximum of AED 12 (approx L1.79) /ft2 per annum.

 

This charge includes all the 5-star facilities and features that comes with every project: infinity temperature controlled swimming pool, health clubs, Jacuzzi’s, saunas, tennis courts, landscaped gardens, 24 hours security, etc…

Buying Guide

Who can buy?

Citizens of all nationalities can buy in Dubai.

Tenure of Property

Prperties are freehold

Mortgage / Financial advise

Mortgages are available on Dubai properties to foreign nationals. Speak to Aquavista for further information.

Transfer of Titles

Upon the purchaser fulfilling their obligations in terms of the Sale Agreement, the Seller shall transfer a clear and unencumbered freehold title in respect of the property to the purchaser at the Lands Department as soon as reasonably possible after the Completion Date.

 

Letting

Rental prospects of properties in Dubai are very good. In general, current rental levels are about 10%.

 

Professional rental service companies are available in Dubai and Aquavista will shortly be introducing a web rental board to advertise your property privately. Speak to Shaun Ashdown at Aquavista for further information.

Other Information

Residency

A Household Residence Visa (valid for 99 years) is offered to every registered owner of property (excluding The Crescent Towers development). It is required to renew the visa every 3 years. The visa is only offered to the first named buyer (in case of joint buyers) with every property. 

Tax Regulations

There are simply no taxes in Dubai.

 

For further information on buying property in UAE (Dubai), and commonly asked questions click here

 

Back to Buying Guide menu