
Ho Ho Ho! Winter holidays are coming, and what can be a better gift to yourself (or your loved one) than a beautiful piece of property in Dubai?
Yes, buying real estate in Dubai, while sitting comfy on your couch anywhere in the world, is that easy nowadays. Easy and profitable.
Investing in real estate in Dubai has high ROI rates. Compared to other European countries, the annual rental yield in Dubai may vary from 6% to 12%.
So, ready to invest online? You just need to accomplish this 5-step plan and get your paperwork done.
Step 1
Choose a property
- Check out property websites and platforms
- Chose the property that matches your criteria: you can filter available properties by location, price, type, and size
- Register your interest so the real estate agents or developer’s sales department could contact you.
- After you made a decision the agent will send the necessary documents for signing first to you, and then to the registration manager via e-mail.
The required documents include:
- Completed Form A and Form B received from the agents of both parties.
- Sales contract (Form F) signed by all parties to the transaction.
- Certificate of ownership of the property (Title Deed).
- NOC from the developer confirming that there are no objections to the transfer of ownership rights.
- International passports of both buyer and seller, and Emirates ID (if available).
- IBAN – seller’s international account number.
Step 2
Register the transaction
After submitting the documents, the trustee registers the transaction and uploads it to the online system of the Dubai Land Department (DLD).
Step 3
Confirm your identity
After all the data were sent to the system, DLD initiates a video conference with both parties to the transaction to confirm the identity of the parties and their signatures in the contract.
Step 4
Pay a down payment
After that, you will get a payment link to the DLD’s escrow account (IBAN) to pay a down payment, government fees, and realtor and trustee services.
Step 5
Get ownership documents
After all the funds were transferred to the account, the transaction will be approved and the buyer will be provided with a new document confirming their ownership (Title Deed), as well as a digital copy of the sales contract.
It is also possible to get a mortgage or a payment plan from the developer. Many Dubai developers offer affordable payment plans under the 30/70, 40/60, or 60/40 scheme for a period of 3 to 5 years.
Congratulations! You’re a property owner in Dubai. Easy-peasy.