Considering Buying Dubai Real Estate? Here’s What You Need to Know

Dubai Is One Of The Easiest Places To Buy Real Estate

Dubai is one of the most popular foreign markets right now for a variety of reasons. There is no real estate tax, capital gains tax, or income tax—appealing to many buyers, especially those from the United States.

There’s also a major construction boom, with luxury developments being sold off-plan. Buyers can easily get in before the property is even built. “Off-plan projects typically require an initial down payment of 10 to 25 percent, with the remaining funds spread over three to five years, usually without any interest,” a seasoned real estate investor and advisor with over seven years of experience in the Dubai market.

Re-selling properties is also less complicated because there are no attorneys involved. “There’s typically a reservation agreement with a 10 percent deposit of the property price. Once both parties agree, a No Objection Certificate (NOC) is required from the developer to proceed with the transfer. Transactions will be assisted by agents, and the transfer will be completed at the Land Department Trustee office, where a title deed is issued by the Dubai Land Department