Dubai Guide: Property
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Introduction The Dubai property market
The Dubai property market is known for its luxury residences, developments and business centres. Prices increased drastically for two years, but in 2008 property prices crashed. They have been volatile ever since, but the market is expected to even out in the future. more » -
Finding property Dubai properties available to foreigners
If you are a national of the United Arab Emirates (UAE) or other Gulf Cooperation Council (GCC) states, you can purchase freehold property anywhere in Dubai. Other nationals can only purchase property in designated areas. more » -
Property Types Freehold, usufruct and common hold
Dubai allows foreigners to purchase property under three types of conditions: freehold, usufruct and common hold. Freehold property can only be purchased in certain areas. more » -
Purchase process Contracts, taxes and registrations
Purchasing property in Dubai is a relatively straightforward process. Property development companies will readily sell you property without an agent. However, you should always find an agent to help you with the purchase process because laws and regulations may change quickly. more » -
Mortgages Financing your Dubai property
To pay for your Dubai property, it is best to set up a bank account in Dubai either through a native bank or a foreign branch. You can then exchange your currency into dirhams for major property payments. For mortgage payments, you can set up direct debit payments. more » -
Additional cost Taxes, insurance and utilities
Dubai levies no property purchase taxes or annual property taxes, nor any value-added or capital gains taxes. However, you must still pay a municipality tax. more »