Buying property in Dubai
Updated: Sep 20, 2022
In Dubai, freehold sites are eligible for foreign ownership. Foreigners (those not residing in the UAE) and expatriate citizens can acquire usufruct rights, freehold property rights or leasehold rights for up to 99 years.
Land classified as freehold property is listed in Regulation No. 3 of 2006 determining the areas of ownership by non-nationals of immovable property in the Emirate of Dubai.
The Land Department of the emirate is responsible for issuing title deeds. In Dubai, there is no age limit for becoming a homeowner.
Free zones in Abu Dhabi include the following areas:
Dubai Marina
palm islands
World Archipelago
Jumeirah Beach Residence
Greens, and so on
The availability of a residence visa for foreigners (and their families) who invest at least AED 1 million in real estate for a 3-year visa and at least AED 2 million for a 5 or 10-year visa years is another benefit of investing in Dubai Homes. Additionally, "retirees" over the age of 55 qualify for a 5-year renewable visa provided they buy a house worth at least AED 2 million.
Buying a home is a fairly simple process. A resident visa is not required; it is sufficient that the foreign buyer has a valid passport. In order to discover the ideal property and complete the appropriate paperwork, the buyer can engage with regional real estate brokers or directly with the developer.
In Dubai, a typical real estate transaction takes 30 days, from the date the sales contract was signed.