What do I need to know when buying property in Dubai?
When we asked expats what advice they would give a foreigner before buying a property in Dubai, they said...
"1. It is important to research the area you are looking to buy in, as different areas have different rules and regulations. 2. Make sure you understand the legal process of buying property in Dubai, as it is different from other countries. 3. It is important to understand the different types of property ownership available in Dubai, such as freehold, leasehold, and usufruct. 4. Make sure you understand the fees associated with buying property in Dubai, such as registration fees, transfer fees, and other taxes. 5. It is important to understand the different types of mortgages available in Dubai, such as fixed-rate mortgages and variable-rate mortgages. 6. Make sure you understand the different types of payment plans available in Dubai, such as installment plans and lump-sum payments. 7. It is important to understand the different types of insurance available in Dubai, such as home insurance and life insurance. 8. Make sure you understand the different types of maintenance fees associated with owning property in Dubai, such as service charges and utility bills. 9. It is important to understand the different types of rental agreements available in Dubai, such as long-term leases and short-term leases. 10. Make sure you understand the different types of tenant rights available in Dubai, such as the right to privacy and the right to a safe and secure living environment," mentioned another expat when asked about moving to Dubai, the UAE.
"Be very careful who you putchase from. Be aware and well versed in the UAE laws and be very careful if choosing to buy prooerty off plan," commented one expat who made the move to Dubai, UAE.
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What do I need to know when buying property in Dubai?
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