How To Buy Property In Dubai Uae

By Author: Constance Martinez
Total Articles: 623
Comment this article

The first step when you make a purchase - the conclusion of a book. With his signature from the buyer makes a 10 to 20% of the value of the contract. To make the transaction, subject to payment of first installment, you only need passport buyer.

Taxes and Fees

Buying real estate in Dubai are not subject to any taxes. Registration of property rights in the land department would cost the buyer to 1.5%.

Average real estate prices

Average cost of 1 sq. km. m. in Dubai range from $ 3000. Important detail is that all projects in Dubai, whether apartments or individual homes, shall have to finish, that is, the price includes not just bare brick walls, and rooms in which you can immediately strike. Do not forget about the parking spaces.

Buyers interested in the finished villa or town house, in the massive building Meadows, given from $ 1500 for 1 square. m. - in a spacious house. For the town house in such a project Springs, you will have already put in $ 2400 for 1 square. m, as well as residential areas are quite small, but the principle of the price is inversely proportional to the size of is ...
... valid everywhere in Dubai.

Legal

Federal law of the land the UAE does not exist yet, so issues relating to land and property issues are solved in accordance with the laws of each emirate. In 2002, Crown Prince of Dubai and UAE Vice President Sheikh Mohammed bin Rashid al-Maktoum special decree authorized to sell the land and housing in Dubai to foreigners to full ownership. According to this principle, the owner may use the purchase for private purposes, resell it, rent, lease, donate or bequeath. In doing so, the purchase of real estate is only possible on a strictly defined territories.

15 March 2006, the UAE was adopted Law on Registration of Real Estate, defines the basic concepts of ownership of real estate and land in the territory of the Emirate of Dubai. The main points of the Act were the following:

Citizens of the UAE and the Gulf countries have the right to purchase real estate in full ownership, as well as long-term lease for 99 years anywhere in the Emirate of Dubai.
Citizens of other countries have the right to acquire land and property in full ownership and long-term lease only in designated areas. Also, all the above categories of persons were granted the right to officially register the purchase at the Land Department of Dubai, to obtain the status of the owner.

Now the transaction of sale is registered with the Department of Land and Real Estate Dubai. Registration in the Land Department confirms the owner's property rights in real estate, executed in his name. In most cases, the client must pay a deposit of the purchase price (usually 10% or more) and then carry out further payments at various stages of construction.

Of particular interest to foreigners owning Property in Dubai, is the order of succession. In this respect the UAE law is sufficiently complicated and contradictory. Most lawyers conclude that sequence and the distribution of inheritance to decide the law of the country of origin is the testator. However, some articles of the Civil Code of the UAE shows that in some cases the order of succession may be determined by local laws with a religious connotation and is quite different from European. In general, the question remains open and can be completed only after a decision by the legislative and judicial organs of the UAE.

Visas and residence permits

When buying Real Estate in Dubai, the owner can obtain a residence permit (residence visa) for yourself, spouse, children under the age of majority, and unmarried daughters. Resident visa is issued for three years and updated at the end of this period for a fee. Visa draws up a company-builder, its cost will be about $ 1500. This visa entitles free entry and exit, and does not limit the period of stay in the country, but in order to continue to apply a visa, you must visit the UAE at least once every six months. Visas are issued immediately after the willingness of the project and design it in the property. Work Permit to obtain further. Nancy Hall is a Real Estate Consultant from UK. She is working with Nomore Hotels. You can get more information about Dubai Property and Egypt Real Estate at Nomore Hotels. Find more on How To Buy Property In Dubai UAE