Dubai Real Estate: FAQ for first time buyers
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Dubai Real Estate: FAQ for first time buyers


– So if you are planning to buy a property in Dubai … – and you are doing your research … – this video will help you. – Hi guys! My name is Denis and I’m a real estate agent in Dubai. – I decided to make a video about frequently asked questions … – and today we will discuss some of them. – So if you are planning to buy a property in Dubai and you are doing your research … – this video will help you. – Ok, now let’s move on – I will not discuss with you the benefits of the city … – because if you have it already in your list, most probably you know quite enough. – So let’s jump into the ownership of the property in Dubai. – Basically, if you are buying a property in the freehold area in Dubai … – you have a full ownership of the property and you can do whatever you want with it. – Basically, if I suggest you any project, most probably it will be a freehold project … – because we are not working with the leasehold property. – When you are buying a leasehold property … – it means that you are buying a right to use the property for a limited period of time. – And as usually it is 99 years. – Now, let’s move to the taxes … – In Dubai, there are no taxes related to the residential property. – So you don’t have to pay absolutely anything from your rent … – or in case you decide to resell your property. – There is the only one-time fee that you need to pay to the government. – It is usually 4%. – You are paying this amount only upon buying the property. – You will pay it to the developer … – and they will register your property in the government in case you are buying an off plan. – Or if there is a transfer of the ready unit you will just submit it to the trusty office. – But this money goes to the government. – It’s not going to the developer or to the seller. – Now, let’s talk about the banks. – You as a non-resident, you can open a bank account here … – and I have about it on my channel. – I will leave the link in the description below. – And as well you as a non-resident, you can as well apply for the mortgage. – But for you, banks will able to give only 50% of the value of the unit … – and it should be a ready property. – An as well I have a quite good video about it on this channel. – Starting price for a property in Dubai is somewhere around $125 000. – If you want to get an estimate about a price for a decent 1 bedroom apartment in a good community … – you should aim to somewhere $300 000 and up. – And again, it’s a very low price compared to some other major cities. – So there is a very good opportunity over here. – And the last thing that I will discuss in this video is related to the rent. – So you as a landlord in Dubai you have two options related to the rent … – You can rent it as a short-term or as a long-term. – In case you decide to go for the long-term the period of contract as usually will be 1 year … – and the tenant will give you post-dated cheques in advance. – So you can deposit these cheques to the bank … – and they will be cashed according to the date. – So you don’t have to come to Dubai in order to cash it. – And in case you decide to go for the short-term … – you can always hire a property management company. – I advise you to this because when there is the short-term there are a lot of things involved in this … – with moving in process, moving out, laundry, listings on the properties … – Like property website – Like Airbmb.com and Booking.com – All this can be done by the property management company. – Here, we call them a Holiday Home. – So Holiday Homes companies are companies that renting the properties on the short-term to the tourists. – In this case, as I said they will manage absolutely everything … – and they will keep on sending you money on a monthly basis. – I will finish this video over here. – Obviously, there are a lot of other things that we can discuss … – but I’m sure we can find a lot of answers on this channel. – Please don’t hesitate to leave your questions in the comments below … – I’m always replying to everybody over there. – Thank you for watching this video … – and I’ll see you in the next one. – Good bye.

19 Comments

  • Veronika Shangareeva

    When i tried several bank mortgage calculators i got an impression that the minimum downpayment is 20% pf the property value. Which should mean that i should be able to get a mortgage of 80% value of the property. However u said its up to 50% could you please give any comments on that?

  • hamy

    Hey I reserve an apartment in emaar after that I didn't go with installments so my apartment was allotted to some1 else I want to know can I get my reservation fee which was 20k.aed thanks

  • omarbaaghil

    Hi I met you on instagram real estate. I commented on your post. greek olives and philadelphia cheese remember? you have a picture of cheese having breakfast. I'm mr lego too.

  • Fady Lanson

    Land for sale sheikh Zayed road ticom area
    G+60
    Plot 56.700 square feet
    GFA 609.044
    Land use res/com
    Price 220.000.000 Dhs
    00971502012846

  • p2903 k

    On 2008, I paid 68,000 AED to R-Holding company to purchase one unit in Ajman, Emirates City. They asked me to pay this amount to be able to enter to the contract. The contract was supposed to be sent to me one month later… But they never sent me the contract. The project has been cancelled and to this day, they have not refunded my money. Ajman government done nothing till this day. Why?
    The founder and chairman of R- Holding is Sheikh Rashid bin Humaid Al Nuaimi ,THE SON OF AJMAN RULER.

  • Sreenivas Voore

    Hi, Great Video and good information. I just subscribed. What are the best areas for buying investment properties to get good rental income?

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