Dubai has become a global hub for real estate investment, attracting investors from all over the world. Whether you’re an expatriate living in the UAE or a foreign investor eyeing Dubai’s luxury market. The city offers lucrative opportunities for all. But how can foreigners buy property in Dubai? Here’s a comprehensive guide on what you need to know.
Can Foreigners Buy Property in Dubai?
Yes, foreigners can own property in Dubai! According to Law No. 7 of 2006, non-UAE nationals can purchase freehold land and property within designated areas specified by the Ruler of Dubai. This is an attractive option for both expatriate residents and foreign investors who do not reside in the UAE.
What is Freehold Ownership in Dubai?
Freehold ownership in Dubai means absolute and unrestricted ownership of the property and the land it stands on. As a foreign national, you can acquire different types of real estate interests, including freehold, musataha, usufruct, and long-term leases for up to 99 years.
- Musataha: This allows you to invest in and develop land owned by another party for up to 50 years. After this period, ownership of the land reverts to the original owner.
- Usufruct: This grants you the right to use and benefit from a property owned by someone else for up to 99 years.
Where Can Foreigners Buy Property in Dubai?
Foreigners can purchase property in specific areas known as
“Designated Areas.” Some of the most popular ones include:
- The Palm Jumeirah
- The World Islands
- Downtown Dubai
- Business Bay
- Dubai Marina
- Emirates Hills
- Jumeirah Lakes Towers (JLT)
- Jumeirah Beach Residence (JBR)
- Discovery Gardens
- Arabian Ranches
- Mirdif (specified plots)
- Dubai Investment Park (DIP)
- Falcon City
- Dubai Sports City
- Dubai Motor City
- International City
- Jumeirah Islands & Jumeirah Village
To explore other areas where foreigners can buy property, you can contact us directly, and our team of professionals will guide you.
Steps to Buying Property in Dubai as a Foreigner
- Legal Due Diligence
Before purchasing, it’s important to conduct legal due diligence. Ensure that the property is free of mortgages, liens, or other charges. You can verify property ownership and status via the DLD’s online services.
- Draft and Sign a Sale and Purchase Agreement
Once you’ve found the property you wish to buy, you must draft and sign a Sale and Purchase Agreement (SPA). This document outlines the terms and conditions of the sale between you and the seller.
- Register the Sale
To officially register the property under your name, you need to visit a Real Estate Registration Trustees service center or use the Dubai REST smart application. Ensure you have the required documents and fees ready.
- Required Documents
- No-objection e-certificate (E.NOC) from the developer in the freehold area
- Emirates ID for UAE residents or a valid passport for non-residents
- Legal Power of Attorney, if applicable
- Company registration documents, if the property is being purchased by a corporate entity
- Fees and Charges
When purchasing property in Dubai, be prepared for various fees:
- Service Partners Fee: Dh2,000 plus VAT for properties under Dh500,000; Dh4,000 plus VAT for properties above this value.
- Real Estate Unit or Villa Fee: Dh250
- Seller and Purchaser Fees: 2% of the sale value
Finalize Your Property Purchase in Dubai
You will receive essential documents after all fees are paid and documents are submitted. These documents include the e-Certificate of Title, Title Deed, and provisional contracts. These documents confirm your ownership and finalize the property transfer.
Conclusion
Buying property in Dubai as a foreigner is straightforward if you follow the legal requirements and perform due diligence. With the city’s booming real estate market, investing in property here can be rewarding, offering high returns and a luxurious lifestyle. Whether you’re looking for a residence, an investment, or a holiday home, Dubai has a lot to offer.