Frequently Asked Questions
You've got questions? We have got the answers.
There are 3 main property types found in Dubai. These include apartments, townhouses, and villas.
Apartments – Generally ranging from Studios to 4 Bedroom options found in low, mid, and often high-rise apartment buildings. Apartment buildings tend to be located all over Dubai and especially in densely populated communities popular with expats.
Townhouses – Townhouses are terrace-type homes. They are multi-story (usually two) and share at least one and sometimes two exterior walls with an adjacent property. Bedroom options usually range between 3 and 5 beds and all options come with private gardens.
Villas – Whilst they do come in different shapes and sizes villas are the largest property type found in Dubai. They are standalone properties meaning they are completely separate from any other buildings. Just like they tend to be larger in size the land they sit on also tends to be significantly bigger when compared to townhouses. Bedroom options for this property type range from 3 and can go as high as 10 or more.
The suitability of an older home versus a new home depends on various factors, including personal preferences, lifestyle, and specific needs.
Ultimately, whether an older home or a new home is better depends on your priorities and circumstances. If you value character and established communities, an older home might be ideal. If you prefer modern amenities and low maintenance, a new home could be the better choice.
A real estate broker is a licensed professional who helps clients buy, sell, and rent properties. They play a crucial role in real estate transactions by providing expertise, negotiating on behalf of clients, and managing the necessary paperwork and legal aspects.
Buying an off-plan Property in Dubai
Purchasing off-plan properties in Dubai can offer significant advantages, but it also comes with risks.
Here’s a typical process, along with associated benefits and risks: Process for Purchasing Off-Plan Properties: Research and Selection: Research various off-plan projects, developers, and locations. Consider your budget, investment goals, and the reputation of the developer. Choose a property that aligns with your objectives.
Reservation: Once you’ve selected a property, you’ll typically need to pay a reservation fee to secure it. This fee is refundable within a specific period if you decide not to proceed.
Sales Agreement: Sign a sales agreement with the developer, which outlines the terms and conditions of the purchase. This document is crucial, so review it carefully.
Payments: Off-plan properties in Dubai often have a payment plan that spans the construction period. Payments are made in instalments, with a significant portion due upon completion.
Construction: As the project progresses, monitor construction milestones. Dubai’s regulatory authorities often require developers to meet specific construction milestones before accepting payments. Handover: Once the property is complete, it undergoes inspection, and if everything is satisfactory, the developer hands over the property to you.
Registration: Register the property in your name with the Dubai Land Department. This involves paying registration fees.
Possession: You can now take possession of the property, either for personal use or to rent it out.
Benefits of Purchasing Off-Plan:
- Potential for Appreciation: Off-plan properties can appreciate in value during the construction period, offering the potential for capital gains.
- Payment Flexibility: Developers often offer flexible payment plans, making it easier to manage finances.
- Choice of Units: You can select from a range of units and may have customization options.
- Modern Amenities: Off-plan projects often feature modern amenities and facilities.
To mitigate risks, research thoroughly, work with reputable developers, review contracts carefully, and consider consulting with real estate professionals. While off-plan investments can be lucrative, they require careful consideration and due diligence. Please seek independent advice from legal and tax professionals and relevant local authorities before making any decision.
