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How easy is it to buy and sell property in Dubai? Very easy, however the current buying process in Dubai does differ from many other international property markets. Normally most countries that use Common Law require a lawyer to represent each party. In Dubai you can purchase straight from the developer "off-plan" for little or no fees; alternatively you can buy direct from another private vendor in the resale market, whether the property has been completed or not. Many property developers do require their consent for sale and purchases, and may in addition charge a small transfer fee of between 1% and 3%.
Do I need to have a bank account in Dubai? No, this is not necessary as there is no legal requirement for purchasers of Dubai property to hold a local bank account.
What taxes will I have to pay? In short NONE! Dubai has no taxes of any kind when purchasing a property. Dubai also profits from no business taxes with the exception of the banking industry.
Luxury Apartments for Sale in Dubai
What maintenance fees can I expect to pay? Maintenance fees for apartments vary from 4AED to 15AED per sq ft of the apartment per year. All maintenance fees will be explained at the time of enquiry. These fees tend to be fixed for 3 years after which a Residents Association is formed. |
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Can I apply for a residency visa? Yes it is possible to apply for a residency visa when you purchase a property. New Dubai property owners and their immediate family are granted applications for residence visas in accordance with the latest immigration regulations.
What is the payment process? This does vary from developer to developer and development to development. Typically you will be expected to make a down payment on the exchange of contracts plus further instalments, a percentage of the total purchase price, based on targets in the construction process. The final instalment is due on completion of the development. We can provide you with the exact payment schedule on request.
Dubai Luxury Apartments for Sale
Unique opportunity for buy to let in Dubai
We are able to bring you a fantastic new investment vehicle for capital appreciation as well as excellent rental income. Located in Dubai Sports city, in the retail and office zone you can purchase an office unit aimed at smaller enterprises. With the developers attention firmly set on residential projects, this is a unique opportunity to purchase for commercial leasing.
The management and the maintenance of the properties are taken care of, and you can sit back and relax as your investment works hard for you. One of the major advantages to this type of buy to let opportunity is that clients lease offices for year terms, removing the uncertainty and erratic nature of buy to let, providing a continuous and healthy sustained income.
For more information about how this unique scheme works please request details via our contact form, and state commercial buy to let.
Dubai Sports City Apartments |
