How can expatriate buy property in UAE :
To own a property in Dubai is I think the dream of every one to have a plot in such a fascinating, developed and attractive country that attracts the expats by the luxury life, world class healthcare, high quality education and many more. One may think that how a desert state can be a facilitated country but one should think about the sky touching buildings , sizzling islands, greatly furnished accommodation and huge shopping malls. If you are also a person wishing to have a property in UAE then you have clicked the correct page here you will find answer to every question related to buying a property in UAE .
Requirements of buying a property in UAE :
First of all, let’s discuss the requirements to see that if you are eligible to get a property in UAE if you are then you should go through this article to know more. After the January 2024 buying a property has become quite easy in UAE just like any other part of western countries.
• No age requirements:
There are no age restrictions about buying a property in UAE but the condition is that you should be a resident of UAE then you can simply move to the navigating sales process and own a property if you are having enough money to do so.
• Investment:
For buying a property you should have money of about AED 500,000 or two million. So for this purpose, you should financially too strong that you can afford all the expenses to own a property in UAE.
Zero tax buying property:
Another interesting point is that buying a property is totally tax free that is a plus point and attracts the expats to invest their money in buying property in UAE that is important to boost up the economy of a country and helps to upgrade its economic conditions.
4% Transfer fee:
One should keep in mind that their is no tax upon buying a property in UAE but their is a transfer fee that is to be paid when transferring a property in your name. In addition to this a housing fee is to be paid monthly that is equal to 5% of rental value of that area. But still it is beneficial just because that in UAE their is zero tax system. If you compare the other countries of the world then you will come to know that getting a property in Dubai will be beneficial for you just because of zero tax system.
Residency visa:
Another interesting point is that by buying a property of the required amount one can get a residency visa that is long term stay in UAE that is I think a golden chance for an expat.
Steps to buy property in Dubai:
Here we will describe the full method of how an expat can buy a property and how to find the appropriate place for property selection.
Step 1:
The first step to buy a property in UAE is to find a free old area in UAE that can be found all around UAE with the description of their amenities and prizes.
Best place for the property can be recognized by knowing the purpose of your purchase it means if you want to buy the property for future investment then Dubai Marina, Jumeirah Lake Towers and Jumeirah Village Circle offer higher Return on Investment (ROI).
So for each purpose their is a special and convenient location that one can choose.
Step 2:
The next step is about the payment that you want to buy a finished project that you will finish all the payment for this you should arrange all the finances with you , or you want to but an off plane property means you will pay in installment so this the next step of you.
Step 3:
The next step is to hire a real estate agent that is of great benefit example he can help you out in buying the property and finish all the process by saving time an money also because they gave a proper plane for it .
Steps 4:
The next step after hiring an agent is to arange all the finances for your deal. Moreover if you wish to arrange the finances by getting a mortgage for non-residents in Dubai then you have to apply at least 3 months earlier to receive finances on time.
Step 5:
Next is the application for the NOC to be issued from the concerned authority.
Step 6:
The next step is to register your property with the UAE government to legally own it with out any doubt. This the last step and the property is all yours.
Right property to buy in UAE :
Sometimes the new investors spoils their investment by buying an unfit property its means that which is not matching with purpose of investment. Suppose if you are planning to invest in buying a property for building markets and stores and that is far away from the constructed areas its means that is far away from houses then it is of no use. So choosing a right place according to your purpose of purchase and full plane that what you planes to do with that property. One can also buy the property to build a home for them and to Life happily with your family thats I think is a great opportunity…
Good time to buy a property in UAE :
If you want to know that what’s the good time to buy w property in UAE then we are here to tell you about that :
Its the right time to invest your money in UAE because those who have invest money in the previous years has seen their 30% and 40% profit by their investment so don’t be late and invest your money by buying the property as fast as you can because the profit of investment is one step far from you.
I think we have provided you with all the essential information about an expat buying a property its requirements, right choice and right time.