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Yes. Dubai offers freehold properties to local buyers and foreign investors, whether based in Dubai or abroad. Freehold properties are offered in Dubai’s most favourite communities and tower locations such as:
Jumeirah Beach Residence
Yes. Any person of nationality whether a resident or non-resident of Dubai can purchase a property in Dubai’s freehold market. Most developments in Dubai are a mix of freeholds and leaseholds.
There are four basic legal steps to be followed when purchasing a property in Dubai:
a. Establish a buyer and seller agreement
b. Sign an agreement for sale
c. Apply for a No Objection Certificate (NOC)
d. Go to the office of the Dubai Land Department for official Transfer of Ownership
There is a primary market purchase fee of 4,000 AED for transactions over 500,000 AED, and 2,000 AED for transactions below this amount. For a secondary market purchasing fee, total fees include 2% commission (for the real estate agent or broker), NOC fee (around 5,000 AED) and a transfer appointment fee (around 4,000 AED).
Fees are payable in cash and paid by the parties as agreed.
To become a broker in Dubai you must first secure a license from the Real Estate Regulatory Agency (RERA) as it is the only authoritative body to issue brokers licenses. Real Estate companies must then be registered within the Brokers Registry of the Dubai Economic Department (DED. The DED is the body that grants licenses to sole-owners and multi-owned limited liability companies (LLCs) to UAE nationals and foreigners.
There are plenty of ways available to begin your search for the best property in Dubai for rent. MyVilla offers a vast of property types across Dubai’s preferred locations. For more information visit www.myvilla.com.
MyVilla has an online Mortgage Calculator that will provide you with monthly breakdown for your property. It is a simple tool that will calculate and analyze the property value, 25% down payment and loan duration.
No VAT is charged on rent for residential accommodations. However, other services may be subject to VAT such as utility bills, cooling or park space fees. These are based on the rental agreement.
At the moment, only agencies with subscription to MyVilla are able to post paid ads. However, MyVilla accepts listings from owners or landlords who wish to advertise their properties on the site.
MyVilla accepts listings from registered agents with RERA ID with a subscription to MyVilla.
If you are the owner/seller, you may list your property by signing up and enrolling Here