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Buying property in Dubai: the complete process

Planning to purchase a new home? Curious about the steps involved in acquiring property in Dubai? Here’s a brief overview of the buying procedure along with valuable insights from our experienced Property Consultants.

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How does the process of purchasing property in Dubai work?

Whether you’re searching for your ideal home or a profitable investment, purchasing property is an exciting milestone (especially with the right guidance). Understanding the process from the beginning can make the experience smoother and address any uncertainties. Let’s begin your journey.

What you'll need

Before diving into property listings, there are a few straightforward steps to streamline the process. Start by setting a budget if you haven’t already, and decide whether you’ll pay in cash or opt for financing. If you choose the financing route, securing pre-approval from your bank is essential to strengthen your position when negotiating offers.

Consider your preferred timeline, but remember that the purchasing process can vary in length, so try to allow for some flexibility. Lastly, jot down your property preferences to discuss with your Consultant later on.

What are you looking for?

Dubai boasts a variety of stunning properties in diverse locations. From apartments and villas to townhouses and penthouses, there’s something for everyone—but your choice will ultimately depend on your budget and requirements. Unsure about what you’re looking for? Your Property Consultant can present options and offer expert guidance.

It’s also a great time to start narrowing down your preferred location. Whether you’re drawn to golf-side villas, beachfront apartments, or contemporary townhouses, Dubai has it all. Keep practical factors in mind, such as commute times, proximity to work, and ease of access.

Choosing the right property agent

While it’s possible to purchase a property on your own, do you really want the added stress? A skilled agent can present tailored options, guide you through market insights, and help you identify the most promising opportunities.

The support doesn’t stop there—if you plan to lease your new property or need professional management services, the right agency can handle it all. From property maintenance to renovations, selecting an agency that offers comprehensive services ensures a hassle-free experience, all while keeping a single dedicated point of contact.

Frequently Asked Questions

Ah, the million-dirham dilemma. As a buyer, you’ll decide between off-plan properties and ready-to-move-in homes. Off-plan refers to properties in the planning or construction phase, while ready homes are those that are fully completed and move-in ready.

Your choice will ultimately depend on your budget, goals, and timeline. Here’s a breakdown of both options:

Ready Properties – For buyers who want to move in quickly or investors seeking immediate rental income, Dubai offers a wide range of ready homes in urban hubs, beachfront communities, and serene natural surroundings. With a high loan-to-value (LTV) ratio, securing a mortgage for these properties is relatively straightforward. Interested? Explore Haz & Co Real Estate’s listings of ready properties for sale in Dubai today.

Off-Plan Projects – Dubai’s off-plan market is thriving, with new developments announced regularly. Buyers and investors can lock in premium units with flexible payment plans, usually completed upon handover. These properties offer excellent rental yields, solid ROI, and significant capital appreciation once finalized. Check out the latest off-plan projects available through Haz & Co Real Estate.

 

In real estate, there are two primary types of property ownership: freehold and leasehold.

With freehold ownership, you have full control and ownership of the property, with no time limitations.

Leasehold ownership, on the other hand, gives you the right to occupy and use the property for a set period, typically up to 99 years. Once that term ends, ownership returns to the freeholder.

While freehold provides indefinite ownership, leasehold offers a fixed term of ownership, often long-term. This distinction is crucial in property transactions and investments, affecting factors like property value, legal rights, and potential for resale.

The timeline for your property purchase will depend on several factors. Some rental properties may become vacant on a specific date, while others might have tenants who are willing to vacate earlier.

The method of payment is also a key factor. If both the buyer and seller are financing the property, the process typically takes around 8 weeks. For a financed buyer purchasing from a cash seller, it can take about 6 weeks. In contrast, when both the buyer and seller are cash buyers, the process can be completed in as little as 1 to 4 weeks.

Yes, you can finance the property, but you’ll need pre-approval from your chosen bank. Once that’s in place, your Property Consultant can connect you with the right partners and help you find mortgage rates that align with your budget and requirements.

If you’re looking for more information on property financing, ensure that the agency you work with has the expertise and connections to guide you through the process.

Yes, there are several fees you should be aware of, including:

Transfer Fee – Buyers of both off-plan and ready properties are required to pay a 4% transfer fee to the Dubai Land Department. Some developers may cover part or the entire 4% as a promotional offer.

Agent Fee – Typically, this is 2% + VAT. For off-plan properties, the developer usually pays the agent’s fee, so the buyer doesn’t incur this cost.

Community Service or Maintenance Fee – Based on the RERA service and maintenance index, these fees are charged per square foot and generally range from AED 2 to AED 30, depending on the location.

Mortgage Registration Fee – If you’re financing your purchase, a fee of 0.25% of the loan amount must be paid to the Dubai Land Department.

Conveyancing Fee – This fee applies if your agency offers conveyancing services (AED 8,400 + VAT when working with Haz & Co Real Estate).

On that note, we highly recommend selecting a real estate agency that provides conveyancing services to assist with the sale process, property transfer, legal matters, and property resolutions. Our conveyancing partner is here to help—learn more with Haz & Co Real Estate.

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Off Plan Guide

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Sellers Guide

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