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Expats home in on UAE property

14.12.2014
Dubai Land Department statistics revealed that Indian investors spent more than AED10.5 billion during the first half of 2014 while Britons spent another AED5.8bn in the emirate.
With housing rents and prices in the UAE continuing to increase many expatriates are considering taking the plunge and buying a home, according to The National.
Dubai Land Department statistics revealed that Indian investors spent more than AED10.5 billion during the first half of 2014 while Britons spent another AED5.8bn in the emirate.
Dubai started allowing foreigners to buy property back in 1999 and last month Sharjah became the latest emirate in the UAE to open up its property market to foreign investment as officials again attempt to cash in on rising demand for real estate.
However, the legality of owning property in Dubai is something that many expats still don't fully understand. “In terms of the UAE laws, there is often a misunderstanding of the word ‘freehold’,” says Brent Baldwin, a partner at law firm Hadef & Partners. “Unlike some countries, the word doesn’t necessarily mean ownership of land in perpetuity as you might expect it to in the UK for example. Instead it can mean different things in different emirates so potential buyers really need to be very aware of what ownership rights they are purchasing.”


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Call management
Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management