BUYERS GUIDE
This is a 10-step guide for buying a new home in Dubai, packed with valuable advice from our local property professionals.
Step 1: Organise Your Finances
Set a budget for your new home and consider all the associated charges, such as a 2% agency commission fee and a 4% transfer fee payable to the Dubai Land Department.
A minimum deposit of 25% is also required for properties financed with a mortgage. The interest rate is usually at around 3-8%, depending on the type of mortgage you choose. It is also worth noting that local rates will change according to any changes made by the US Federal Reserve as the UAE Dirham is pegged to the US dollar.
Step 2: Check Your Mortgage Eligibility
Check your eligibility with a mortgage advisor if you want to finance your property through a bank. The advisor can also recommend suitable mortgage products and provide pre-approval so you can secure your offer more quickly.
Step 3: Consider Your Property Location
Homebuyers are spoiled for choices in Dubai, and it’s no secret that a great location is essential for protecting the value of your home. Our comprehensive area guides are an excellent place to start your research, or contact our Sales Specialists for a personalised discussion to help you determine the best location for your lifestyle needs.
Step 4: Consider Your Key Criteria
Decide what type of features or facilities matter to you the most (e.g., number of bedrooms, concierge service), so you can streamline your online search and property viewings.
Step 5: Hire a RERA Qualified Broker
A licensed and qualified real estate broker in Dubai can represent you in negotiating contracts and handling transactions effectively. Contact one of our RERA qualified property brokers to secure your dream home.
Step 6: Make Your Offer
Once you have found your dream property, put in an offer through your broker, who will do their best to secure the offer agreed with the seller.
Step 7: Secure Your Offer
If your offer is accepted, you will enter into a legally binding agreement with the seller called Memorandum of Understanding (MOU) which outlines all the details and terms of the purchase.
You will need to provide a copy of your passport to the broker, a 10% deposit to the property agency (never directly to the seller), and a PDC in the name of the broker’s company for the commission.
Step 8: Review the Sales Agreement
Thoroughly review the Sales Agreement and make sure you understand and agree with all the terms and conditions of this legally binding document.
Step 9: Apply for the No Objection Certificate
Your broker will apply for the No Objection Certificate (NOC) from the developer to ensure the property has been fully paid for and is free from any outstanding charges or maintenance fees. This can take up to seven working days.Visit the Dubai Land Department to complete the transfer of property ownership to your name, officially register the sale, and obtain your new Title Deed. You are also responsible for paying a transfer fee (4% of the purchase price) and an administration fee not in excess of AED 4,000.
SELLERS GUIDE
In Dubai’s ever-evolving real estate landscape, the continuous emergence of luxury high-rises and contemporary villas presents both exciting opportunities and unique challenges for property owners looking to sell their property in Dubai. This comprehensive guide will help you navigate the complexities of the local real estate market and maximize your investment returns in one of the world’s most dynamic property markets, where international investors and local buyers create a vibrant marketplace for real estate transactions.
Understanding the Dubai Property Market Dynamics
The process of selling property in Dubai requires careful planning, market awareness, and expert guidance. With new developments constantly emerging across prime locations, from the prestigious Downtown Dubai to the iconic Palm Jumeirah and the emerging Dubai Hills Estate, sellers must adopt a strategic approach to stand out in this competitive market. Working with experienced real estate agents in Dubai can significantly improve your chances of securing the best possible deal while ensuring compliance with local regulations and market standards. The Dubai property market’s unique characteristics, including its tax-free status and strong rental yields, make it particularly attractive to international investors, creating a diverse buyer pool for sellers to target.
Essential Steps to Selling Property in Dubai
Professional Representation and Valuation: The Foundation of Success
The first crucial step to sell my property successfully is partnering with a RERA (Real Estate Regulatory Agency) qualified agent. These certified professionals possess in-depth knowledge of market trends and can provide accurate property valuations based on current market conditions. They analyze comparable properties in your area, consider factors such as location amenities, building quality, market demand, and potential future developments in the area to help establish a competitive pricing strategy that attracts serious buyers while maximizing your returns. Their expertise extends beyond simple valuations to understanding buyer demographics and preferences in different areas of Dubai.
Strategic Property Listing and Marketing Approach
When you decide to sell your property, consider an exclusive listing arrangement with a single agent. This approach typically yields better results as it allows your agent to dedicate more resources to marketing your property effectively. Your RERA-qualified broker will leverage their extensive network to connect with potential buyers, implement targeted marketing campaigns, and handle negotiations professionally on your behalf. This focused approach often results in faster sales and better price outcomes. Modern marketing techniques, including social media promotion, virtual reality tours, and international property portals, can significantly expand your property’s visibility to potential buyers worldwide.
Understanding Timeline and Property Preparation
When it comes to selling property in Dubai, timing plays a crucial role in the Dubai real estate market. Cash transactions can complete within 7-10 days, while mortgaged properties may require up to two months for completion. This timeline consideration affects everything from marketing strategy to price negotiations. To enhance your property’s appeal and expedite the sale process, invest time in:
Professional Property Enhancement:
Comprehensive deep cleaning services, including windows, floors, and fixtures, ensuring every corner reflects quality maintenance
Strategic decluttering to showcase space and potential, allowing buyers to envision their future in the property
Professional landscape enhancement for villas and townhouses, creating strong curb appeal
High-quality professional photography and videography that highlights your property’s best features
Creation of immersive virtual tours and 3D walkthroughs for international buyers
Minor repairs and touch-ups to present the property in its best condition
Home staging services to create an emotional connection with potential buyers
Enhancement of natural lighting and space optimization
Updating fixtures and fittings to meet current market expectations
Comprehensive Documentation and Legal Requirements
To ensure a smooth transaction when you sell your property in Dubai, prepare these essential documents well in advance:
Essential Documentation:
Valid passport and visa (for expatriates) with sufficient validity period
Property Title Deed with clear ownership history and verification
Detailed Affection Plan showing property layout and specifications
Up-to-date maintenance fee receipts and payment history
Complete DEWA (Dubai Electricity and Water Authority) bills and clearance
Current tenancy agreement and tenant details (if applicable)
Building service charge clearance certificates
Mortgage status documentation (if applicable)
Property insurance documentation
Community service fee statements
Recent pest control and maintenance records
Financial and Legal Processes: Ensuring a Smooth Transaction
When selling property in Dubai, once you accept an offer, you’ll enter into a Memorandum of Understanding (MOU) with the buyer, which outlines the terms and conditions of the sale. For mortgaged properties, the process includes several critical steps:
Obtaining a Liability Letter from your bank (typically takes two weeks), which details the outstanding mortgage amount
Facilitating the buyer’s mortgage settlement process and coordinating with their bank Securing the Clearance Certificate and original Title Deed
Coordinating with all parties to ensure smooth documentation flow
Arranging property valuation if required by the buyer’s bank
Managing escrow account requirements and fund transfers
Final Steps to Successful Completion
The final phase involves securing the No Objection Certificate (NOC) from the developer, which confirms that all charges and maintenance fees are settled. This process typically takes up to seven working days and requires careful attention to detail. The sale concludes at the Dubai Land Department, where ownership transfers to the new owner, and you receive payment via manager’s cheque. It’s crucial to ensure all utility accounts are properly closed and final readings are taken to avoid any post-sale complications.
Professional Guidance for Optimal Results
In Dubai’s competitive real estate market, professional guidance is not just valuable – it’s essential for achieving optimal results. Our team of RERA-certified agents and brokers provides comprehensive support throughout the entire sales process. We understand the intricacies of the local market and can help you navigate potential challenges while ensuring compliance with all regulatory requirements and market best practices. Our expertise extends to handling complex negotiations, managing international transactions, and ensuring all legal requirements are met efficiently.
Moving Forward with Confidence
Whether you’re upgrading to a larger property, relocating internationally, or simply realizing your investment returns, our experienced sales specialists are ready to guide you through every step of the selling process. We combine local market expertise with professional marketing strategies to help you achieve your property sales goals in Dubai’s dynamic real estate market. Our commitment to excellence ensures that your property sale experience is smooth, professional, and successful.
Contact our Sales Specialists today to begin your property selling journey with confidence and professional support, backed by years of experience in the Dubai real estate market.
TENANTS GUIDE
Prepare to be spoiled for choices when renting a residential property in Dubai. With a diverse range of neigneighbourhoods property types to choose from, tenants can enjoy the high life without compromise in one of the wealthiest countries in the world.
Take a look at our step-by-step guide for tenant’s guide, packed with valuable advice from our local property professionals.
Step 1: Set Your Budget and Criteria
Consider the essential features and amenities you want or need (e.g., location, convenience, neighbourhood), and use research to inform your budget.
Remember the advertised price that you see only includes the total annual rent and does not include the following:
Security deposit (5-10% of annual rent)
Brokerage fees (usually 5% of annual rent, but some brokers charge a minimum of 5,000 AED per tenancy contract)
Moving/relocation expenses
Deposits for gas, DEWA, Etisalat connections
Housing fees for Dubai Municipality (5% of annual rent)
Step 2: Prepare Key Documents
You will need your passport, residence visa and Emirates ID to enter into a tenancy agreement. Having these ready, along with the required funds, will help you secure your dream home more quickly.
Step 3: Hire a Broker
Hiring a real estate broker in Dubai can help you find the right property in a highly competitive and dynamic market. They can also assist in negotiating the terms of the lease with your potential landlord and keep you up to date with upcoming listings that match your requirements. We strongly recommend that you only hire registered real estate brokers. You can ask to see their RERA card to confirm that they are operating legally.
Your broker should accompany all viewings. Ask as many questions as you want, and be sure to take note of any maintenance issues and ask your broker to arrange for repairs before you move in.
Step 4: Make an Offer
Once you’ve put in an offer to your broker, they will start negotiating with the landlord. At the point of offer, you will need to provide your passport, Emirates ID, and residence visa, as well as making three payments by cheques – for the deposit, first rental payment and your broker’s commission.
You can negotiate the price and number of payments, to either pay in one payment up front for the whole year or pay in up to 12 instalments (provided as post-dated cheques).
Note that it is illegal to bounce a cheque in the UAE and you could face arrest and detention if a cheque is submitted without adequate funds to cover the cost.
Step 5: Draw Up the Tenancy Agreement
Review the terms and conditions of your tenancy agreement thoroughly. Make sure everything that has been agreed with the landlord is added to the agreement.Once both parties sign the tenancy contract, you must register the tenancy with Ejari, a system designed to regulate and facilitate the rental market of Dubai. You can do this at centres across Dubai, such as the Al Manara Centre on Sheikh Zayed Road. You will need to bring your tenancy contract, your landlord’s ID, and the title deed.
Step 6: Apply for DEWA
To set up your water and electricity connection, submit an online application for Dubai Water & Electricity Authority (DEWA). Fill out a form and provide the Ejari number, Emirates ID number and your passport number. Then, pay the security deposit through DEWA’s online payment gateway, and the service will be activated within 24 hours.
LANDLORDS GUIDE
lanning on your next investment in real estate? We can help, whether you want to list short-term or long-term properties of any type, from apartment towers to villas.
Take a look at our step-by-step landlord’s guide, packed with valuable advice from our local property professionals.
Step 1: Get a CMA
Contact a local property agent to obtain a marketing valuation or comparative market analysis (CMA) for your real estate.
Step 2: Hire a Property Manager
Consider hiring a property manager through your agent to prepare and present your property in its best condition to stand out and attract the right tenants.
This is particularly beneficial if you own multiple properties or manage your investment remotely. A property manager can also help you deal with any maintenance issues, handle payment collections, and renew your property on your behalf so you can have complete peace of mind.
Step 3: Hire a Reliable Broker
Find a real estate broker in Dubai with a good reputation and one that you can count on to look after your best interests and give your property the best exposure in the market.
Step 4: Sign a RERA form
As the registered owner, you will need to sign a RERA listing form to give your broker permission to list and market your property. You will also need to provide a copy of the title deeds and your ID so that your broker can complete their due diligence.
Step 5: Attend Viewings and Consider Every Offer
Once your property is listed, stay in touch with your broker for timely updates and try to attend the viewings so you can engage directly with any potential tenants.
Consider every offer that comes your way and be prepared to negotiate. On the other hand, don’t discard any offers until you know how popular your property is on the market.
Step 6: Draw Up the Tenancy Agreement
Consider seeking legal advice and support when going through the tenancy agreement with your tenants and drawing up the final contracts.
You will be required by law to register your lease agreements with Ejari, a system designed to regulate and facilitate the rental market of Dubai. Your contract will be kept on file for the duration of the tenancy, where it cannot be altered.
INVESTORS GUIDE
Dubai attracts millions of visitors and real estate transactions that are worth billions of US dollars every year, so there is practically no downside to investing in this dynamic city with endless sunshine and striking new landmarks.
Browse our investor guide which will equip you with useful local knowledge and expertise advice from our agents, who are ready to help you kick start your investment journey.
Why invest in Dubai real estate?
1. Great location
Location is everything when it comes to real estate and the main reason why Dubai is a prime choice for investors around the world.
Its diversified economy, tax-free income policy, and strategic location between the East and West make it an ideal business hub, offering plenty of transport connections. Not only is Dubai a popular destination for expats (who are permitted to buy property on freehold ownership), it also attracts flocks of tourists every year in pursuit of beautiful beaches and grand adventures.
2. Bargain prices and tax-free income
Dubai boasts one of the most affordable property prices in the world. Unlike many other major global cities, real estate supply is not an issue for Dubai which helps keep prices low even for spacious, state-of-the-art, luxury homes. With US $1 million, buyers in Dubai can enjoy approximately 1,776 square feet of living space, which is nearly five times more than London, New York and Singapore.
Moreover, the sale or lease of residential properties are currently exempted from VAT in the UAE. If you are a landlord or investor, all of your sales revenue or rental income are essentially tax free, which is a major bonus compared with other metropolitan cities.
3. Sustainable return on investment
Return on investment (ROI) over a period of time is critical to any property owners’ success. Here in Dubai, investors alike can benefit from profitable returns as well as sustainable growth in a thriving economy.
Those looking to buy real estate in Dubai as a long-term investment can expect to receive an ROI between 5.5% and 8%. If you plan to lease your properties, Dubai offers great rental yields between 8% and 10%. New York (2.9%), London (2.7%), and Hong Kong (2.4%) pale in comparison despite also being global trade hubs and tourist magnets.
4. Easy to do business with
With all the financial advantages on its side, the real estate market in Dubai has another edge – easy processes and flexible payment options and competitive mortgages.
To buy property in Dubai, all you need as a foreign investor is a valid passport and a reliable local agency who can take care of all the important formalities for you.
Generally, it takes about 30 days to complete the full transaction from when you sign the Agreement for Sale through to handover – a relatively smooth and speedy process compared with other major cities.
Buyers can also benefit from different payment options that offer a range of financial flexibility and route to ownership. Some examples include post-handover payment plan, 10/90 payment plan for off-plan properties, rent to own payment plan – all of which are designed to make the investment journey easy and accessible.
Our top tips for foreign investors
1. Decide on your investment strategy
Do you want to create a regular stream of income by leasing real estate in prime locations? Or perhaps, you’re looking to buy a second property for personal or commercial use?
Different investment goals will present different points for consideration and determine your scope of research before making a move.
2. Find the right location
The neighbourhoods in Dubai are rich in variety and character with each offering a unique living environment and access to a diverse range of amenities from schools and parks to health clubs and eateries.
Choosing a location that suits your investment goals will ensure your marketing efforts engage with your target audience directly, reach them more quickly, and generate stronger financial returns.
3. Work with a reputable and reliable agency
Established in 2017 by the Dubai government, the Real Estate Regulatory Agency (RERA) sets out policies and regulations for the property sector in Dubai. Not only does it provide a legal framework and consistency in standards for the sector, RERA also helps facilitate collaboration across different organisations to ensure continuous improvement for all.
So when you are looking for a property agency in Dubai, make sure their agents are RERA qualified. Here’s a few more qualifications and licenses that you can look out for during your research to give you peace of mind that your investment will be handled properly:
In addition to an Office Registration Number (ORN) and trade license from the Dubai Department of Economic Development, its agents should have their Broker Registration Numbers (BRN) and certificates from the Dubai Real Estate Institute (DREI).
4. Stay in the loop
With a projected economic growth of 4.2% in 2022, the UAE has a robust economy and Dubai is never short of infrastructure investment and commercial developments.
It’s a good idea to stay up to date on market trends, property prices, and general news about Dubai to make sure you can capitalise on upcoming trends and new opportunities that may impact the future value of your investment.
Is it safe to invest in Dubai?
Yes absolutely. The UAE stands out in the region with a relatively peaceful outlook, which enables its economy to grow.
The real estate sector in Dubai also benefits from a relatively advanced infrastructure with a clear governance framework to protect both owners and residents, such as introducing the escrow account system and ensuring fair market competition for all.
Moreover, the city’s extremely low crime rate and remarkable international schools make it a haven for young families from abroad. Even during the global pandemic, the UAE government managed to put the situation under control very quickly, causing minimal disruption to the economy.
How IZBA can help you?
If you are planning your next real estate investment in Dubai, our RERA qualified agents can provide expert advice tailored to your investment strategy and recommend properties that offer the best value for money, capital appreciation and sustainable returns.
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