Dubai Property Investments

How easy is it to buy and sell property in Dubai?
Very easy, but the present system for buying and selling Dubai property is not one which is likely to be familiar to many global investors. Typically most countries that use Common Law require a lawyer to represent each party or a public official in Civil Law jurisdictions. In Dubai you can buy straight from the developer “off-plan” for little or no fees; alternatively you can buy Dubai property direct from another private vendor in the secondary market, whether the Dubai property has been completed or not. There is an extremely buoyant market as demand currently exceeds supply and you will be able to sell your property in the secondary market before completion or after the property has been built. However many property developers require their consent to sale and purchases, and may also charge a transfer fee of between 1% and 3%.

How do I buy an apartment?
When you have decided which Dubai property you wish to purchase, contact us for a reservation form.  Along with a completed form, clear copies of buyer(s) passports and proof of payment of the deposit.  Payments are made directly to the developers with no fees payable to Emirate Ventures.

We recommend you open a FX (Foreign Exchange) account for secure efficient and cost effective money transfer across different currencies.  On a deposit of AED70,000, you could save several hundreds of pounds.


Are there any Legal costs in purchasing a property?
No, since your contract is direct with the developer there are no legal costs involved . conventionally lawyers are not used since contracts are simple and in plain english however you may appoint a solicitor if you wish.

What deposit is required?
Usually the developer asks for either a 10%, 15% or 20% deposit. The remainder of the funds will be required over the building term in stage payments, often 10% every three months for apartments. We can provide you with exact details of payment schedules on request.


How much are maintenance fees?
Maintenance fees for apartments range from 4AED – 15AED per sq ft of your apartment per annum. This will be advised to you at the time of purchase.  They tend to be fixed for 3 years after which a Residents Association is formed.


Can I come and visit the property before I buy?
Of course it is possible to come out and view the property before you purchase. Bear in mind that developments tend to sell out 18 months before they complete, so it may be that you can only see the area where it is going to be rather than the building itself.

Can you arrange finance for me?
We can introduce you to companies that can assist you in arranging finance in Dubai. Most of the bank’s offer 70% ‘loan to original developer sale price’ mortgages and the rates tend to range from 6 – 8%.  The approval of the loan is dependant on the project your earnings.  Normally banks will lend on "approved" projects.  Those are ones that they have reviewed and signed an agreement with the developer to lend finance on.  Not all projects will be "approved".  If the project is approved, then you would contact the relevant bank/finance company to arrange finance.  If the project is not approved you may need to approach various banks to see if they will give you finance.  If your ability to pay the on-going instalments is based on the finance being given, then we strongly advise that you obtain finance prior to committing yourself to any project as most deposits are non-refundable.


Are there any legal safeguards for foreign investors in the case of non-completion or poor construction work by the developer?
Yes, there are codes of standards applied by the Dubai Municipality regarding building permits and contractual clauses. The developer will have to maintain the standards as stipulated in the regulations issued with regards to building construction, and also safety issues. In the event of a problem, assistance can be found from the contract entered into with the developer. This may contain building covenants which often provide a guarantee of workmanship of 10 years. There is also the civil code of the UAE which contains protection regarding building standards.