Are you first time buyer in Dubai real estate? You might have questions in your minds regarding Dubai property market.
Here are the question for for first time buyer in Dubai.
- Can non-residents buy property in Dubai?
Yes, you can buy property in Dubai even if you are not a resident, but only if you follow specific regulations.
- What is the process while buying property in Dubai?
In Dubai, best way to buy a property is to get in touch with experience real estate agency and the agency will help you find out the best investment options according to the budget.
- What are the common types of properties available in Dubai?
The three most common real estate property types in Dubai are residential (apartments, villas, townhouses), commercial, land
- Is there any minimum age requirement to buy a property in Dubai?
In Dubai, individuals must be at least 21 years old to buy a property.
- Can I get a mortgage in Dubai as a foreigner?
Residents and non-resident investors can obtain a mortgage to finance their property purchases in Dubai. However, the eligibility criteria and interest rates may differ from those for UAE nationals.
- How much down payment must one pay to buy a property in Dubai?
The down payment is depending on the property. Usually, the downpayment ratio is around 20% – 25%.
- Can I get Golden Visa for buying property?
Yes, you can get UAE golden visa by investing AED 2 million ($545,000) to get a 10-year Golden Visa. You can also obtain a 2-year residence visa by buying real estate worth AED 750,000 ($204,000).
- Are there any taxes on buying a property in Dubai?
No, currently, there are no taxes on buying property in Dubai. However, the buyer has to pay fees like the transfer of ownership.
- What factors should a first-time buyer consider before buying a property in Dubai?
If you are buying property in Dubai real estate, you should consider factors like the location, type of the property, price of the property, and budget.
- Why do I need a real estate agent when buying property in Dubai?
It is true that buyers can purchase without an agent, but as real estate brokers, it is not advisable for us to state that they can buy property without an agent in Dubai.
With the help of an agent, you can save a lot of time by leveraging their expertise in understanding the rules and regulations, determining market prices, and providing knowledge about the areas that are ideal for investment.