Frequently Asked Questions
Question about selling
Buying property in Dubai is extremely safe. The Dubai government along with the relevant regulatory bodies have gone above and beyond to ensure buying in the city is not only safe but attractive for all those interested.
Just like most countries around the world buying real estate with a mortgage is not only possible but quite common. Thre are multiple local and international banks for buyers to choose from.
The Dubai Land Department or DLD as it’s often referred to is a government-run entity in Dubai that oversees all real estate-related trading operations. Its primary function is to legalize the sale and purchase of land, boosts investment, and provide customers with a highly integrated, transparent, and secure real estate experience.
Houses in Dubai are in some cases expensive. The city is a global hub and full of luxurious properties so this is hardly surprising. With that said Dubai does have its fair share of low-cost and medium-income housing options.
Yes, foreigners of all nationalities can purchase property in any of Dubai’s designated freehold areas.
Question about renting
Lease and rent-to-own agreements are common ways of securing a property in Dubai’s real estate market. A lease, also known as a rental agreement, involves paying regular rent to the property owner for a fixed duration, usually a year. It provides flexibility for tenants who may not be ready for long-term commitments. On the other hand, a rent-to-own agreement is a unique option where the tenant rents the property for a specified period and has the opportunity to purchase it at a pre-agreed price once the lease term ends. A portion of the rent paid may be credited towards the property’s purchase price. Both options have their benefits and will satisfy the various requirements of purchasers and tenants in Dubai.
To find a trustworthy and expert real estate agent in Dubai, start by conducting thorough research. Do some online research and look for agents with a proven track record, positive client reviews, and a strong local presence. You can also seek recommendations from friends or family, especially if they’ve had recent real estate dealings in the area. Also ensure that the agent is licensed by the Dubai Real Estate Regulatory Agency (RERA), which is a key indicator of professionalism and competence. When you meet potential agents, have a chat about their experience and how well they know the local market. All these will help you decide if they’re the right fit for your needs.
Brokers play a crucial role in facilitating the buying and selling of various items. In the context of real estate, brokers have the legal authority to establish a brokerage, where they can recruit and oversee other real estate agents. Additionally, the broker takes on complete legal accountability for all real estate transactions carried out by either themselves or a real estate agent under their authority in Dubai.
If a real estate developer in Dubai delays handing over your property, there are steps you can take to address the situation. First, check the agreement you signed when you bought the property. Usually, this agreement specifies when the developer should hand over the property. If they miss the deadline, they might have to pay you a penalty. You can talk to the developer to work out a solution, like compensation or a new timeframe. If you can’t resolve the issue directly, you can get help from the Dubai Land Department’s Real Estate Regulatory Agency (RERA). They can step in to make sure the developer follows the agreement and protects your rights as a buyer.
The maintenance costs associated with owning an apartment or real estate property in Dubai, UAE, can vary depending on the specific property and its amenities. Typically, property owners are responsible for service charges, which cover common area maintenance, security, and other shared facilities. These charges are determined by the homeowners’ association and are paid periodically. Additionally, property owners should budget for annual maintenance and repair expenses, which can include HVAC (heating, ventilation, and air conditioning) servicing, plumbing, and electrical work. It’s important to note that the cost of maintenance will depend on the size and type of the property, its location, and the services provided by the building management. It’s advisable to consult with your real estate company for a more accurate estimate of these costs.