Buying Procedures in Dubai

buing procedures in Dubai

buing procedures in Dubai

Sale and purchase transactions in Dubai are carried out and regulated in accordance with the rules of the National Law on Real Estate Transactions. This law was adopted in May 2002 and opened the possibility of buying real estate in the UAE for foreign citizens on equal terms with the local population.
Types of property for foreign investors
The first thing to consider is the territorial restriction, the second is that you can only purchase property from government-approved developers and real estate agents. It is not necessary to have a residence permit

Categories of real estate that are available to foreign investors for purchase:

•    Freehold
•    Leasehold
Properties in any of the freehold zones in the UAE in the Dubai free property market include: villas, townhouses, apartments, hotel apartments and office space. Before buying, you should check with the realtor which category the property you are looking at belongs to.

The Dubai real estate market includes:

1.    Property from the developer (off-plan)
2.    Primary real estate market
3.    Resellers