Can a Foreigner Buy a House in Dubai?

Q. I am a foreigner and I want to buy a property in Dubai. Does it make it easier for me to purchase Villas for sale in Dubai? Can a foreigner buy a property in Dubai? Thank you.

A. The property market in Dubai is a dynamic and exciting one, but things are never as simple and straightforward as they appear on television. Many people in Dubai mistakenly believe that the property market in Dubai is very easy to get into. The reality is that it is not and there are different types of investing and property available depending upon your goals and objectives. If you are a first time buyer or investor and would like to be able to buy property in Dubai but don’t necessarily need to own a property for the long term, then you will need to contact a UAE based company that specializes in foreign commercial property.

A. Yes, you may be able to purchase a property in Dubai through a Top real estate companies in Dubai that specializes in real estate. As we mentioned previously, there is a difference between the real estate market in Dubai and the property market of the United Arab Emirates (the UAE). The laws, regulations and requirements applicable in the United States are completely different than those in Dubai and can greatly affect your ability to purchase property in this country.

Q. Where can I find property that is for sale in Dubai? A. There are many leading real estate companies and property developers that have offices all over the city. You can find these companies and property developers through a variety of different media including newspapers, internet, television, and even through traditional channels such as the local dailies.

Q. Is it safe for me to invest in property in Dubai? A. While the property market in Dubai has slowed somewhat, there is no reason to believe that the overall property market in the United Arab Emirates (and indeed, the United States) is unsafe for foreigners to purchase property in.

Q. Where should I look for property in Dubai? A. This will largely depend on what you are looking to invest in, as well as where you want to invest in. There are many places throughout the city that boast beautiful buildings that are suitable for both residential and commercial purposes. There are also many private Dubai Island homes that foreigners can purchase for both residential and investment purposes.

Q. Is there a minimum amount of money that a foreign investor can purchase property in the country? A. There are no real estate property restrictions or minimum dollar amount requirements that have been implemented in order to allow a foreign individual to purchase property in Dubai.

Q. Is there an age requirement for purchasing property in Dubai? A. All sales transactions involving property in the country require that the age of the individual who is the legal owner of the property be 18 years of age or older.

Q. Is there a system of house appraisal in place in Dubai? A. There is no specific house appraisal system implemented in Dubai, but the price of the property that a buyer will pay for a property in Dubai does depend upon a number of factors. These include the location of the property, the current value of the property and what the expected appreciation will be in the future.

Q. How do sellers classify the real property? A. In most cases, a seller will list the property that he is selling with a note that states the real value of the property is AED 350 thousand or more, which is the maximum value that the seller will be permitted to charge for a property.

Q. Is it necessary to purchase property in Dubai from a foreign source? A. Yes, there are some specific legal requirements and documentation that must be met before a person can become a permanent resident of the United Arab Emirates, and one of those requirements is that the individual must purchase their home in Dubai from a company that is based outside of the UAE.

Q. What are the costs involved in purchasing real estate in Dubai? A. The prices of property in Dubai have gone up in recent years as the demand for property has increased, and the foreign investors that have purchased property in Dubai have made sure that the prices are reasonable. The taxes and other charges that are assessed to an individual in order to purchase property in Dubai are considered part of the purchase contract, and therefore cannot be passed along to the purchaser.