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Tips for registering property in Dubai in the period of maximum sales

26.11.2019
A new record for real estate transactions registered in Dubai on November 24.

A whooping number of 515 real estate transactions were registered in Dubai on November 24, making a total of AED888.3 million (US$241.8 million). This was the highest sales number since 2008, when the data became publicly available, Property Finder reports.

The second record for the transactions volume per day was recorded on September 6, 2015, when 405 real estate properties were sold in Dubai, according to Data Finder, an analytical data platform from Property Finder Group.

According to Data Finder, the most expensive real estate transaction recorded on November 24 was a 5-bedroom penthouse on the 45th floor of the elite The One JBR development, sold for AED33 million.

At the background of such an upsurge in transactions registration a question arises of how to make sure you’re doing everything wright, when buying or selling your property.

Buying and selling property always comes with certain legal issues, the complexity of which depends on the country. In Dubai everything is quite simple in this regard, but when conducting real estate transaction it still is better to turn for professional advice.

International experience shows that countries facing a boom in the real estate market often raise various fees associated with property transactions several times, in order to stabilize the situation. At the same time the size of fees may be adjusted according to various factors that hinder speculation, such as the period of the property owning before its resale, the buyer’s nationality, the intended use of the purchased property for own accommodation or for investing. As a result, in some countries, such as Singapore, registration fee can be up to 30% of the property cost in case of its too fast resale.

In order not to be trapped with real estate registration issues in Dubai it is better to turn to professionals. Many people know there is no real estate tax in Dubai, and it's true, but for the real estate transactions, however, the broker has to be licensed with the appropriate authorities. IMEX Real Estate experts are ready to give you all necessary legal assistance in this regard. Our Seller’s Guide and Buyer's Guide will help you solve all the questions related to the real estate acquisition and sale in Dubai, but if you still will have any questions, IMEX Real Estate are pros are always there to help.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. And in order to sell, lease or buy/ rent housing or commercial properties in Dubai, contact IMEX Real Estate. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

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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