Things to Remember When Buying Property in Dubai
The Dubai property market is very different to other countries, so make sure you have a Dubai real estate agent you can trust to guide you through the process and who is registered with Dubai Real Estate Authority. The local knowledge of the market, legislation and procedures is crucial and Metropolitan Premium Properties can certainly become your professional guide and deliver to you your best real estate deal ever.
Anyone, whether based overseas or a resident of Dubai, can purchase a property in Dubai’s designated freehold areas as authorised in 2002 by the Ruler of the Emirate of Dubai, followed by a number of laws and by-laws as the Dubai real estate market was further developing. You are not required to hold any type of residency or similar permit to be eligible to purchase properties in Dubai.
Any natural or legal person can own a property in Dubai, though in case of registration under a company’s name, it must be incorporated in Dubai onshore zone or in certain dedicated offshore or free zones. Metropolitan Premium Properties provides incorporation services for our buyers and will be happy to prepare the full set of documents for a property’s registration and maintain your company further.
An average resale property transaction in Dubai takes around 30 days to be finalized, starting from the date of the Sale Contract is signed by all concerned parties. Off-plan property deals are normally done within one day and sometimes take as little as 30 minutes. To facilitate the deal and save our clients’ time, we can work on the customer’s behalf under the Power of Attorney, and in this case the buyer will be free to travel according to the planned schedule, while we finalize the transaction.
Rama Realestate Premium Properties can guarantee a comprehensive and reliable due diligence, conducted for and on behalf of our customers. When supporting your deal in the secondary market, we’ll make sure the ownership is legal and authentic, assist or perform on the buyer’s behalf a thorough property’s inspection and ensure the sale contract covers all potential pitfalls.
The real estate register in Dubai hold all information about the properties, its location and the related rights, but it is not open to general public. It means that only the registered owner or an authorized person under a court’s order can access the information contained in the register.