Home Property in U.A.E.
How to buy a house in U.A.E.?
Here you will find the detailed information about real estate purchasing in U.A.E.:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in U.A.E.;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in U.A.E. and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
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Foreigners are allowed to purchase property and land all over the freehold area of the United Arab Emirates since 2006. They also may rent property for the period up to 99 years within the leasehold area.
Legal authority of property owners
Dubai government granted foreigners, who have invested in the freehold area property, the same rights as UAE residents. This covers real estate activities, and getting a resident visa, which needs to be renewed every 3 years. The current law provides owners with legal authority to carry out all property activities for personal purposes: property resale, leasing, granting, devising, etc. Purchased real estate becomes owner’s permanent property.
When reselling property on secondary market, buyer has to pay a registration fee of 2 % of property value to the land cadastre.
Government does not hold any responsibility for business integrity and term of real property construction.
Effective amendments to the law on property purchase by foreigners
The lands department of Abu Dhabi is planning to introduce several amendments to property legislation:
According to Law No.19, all UAE residents have right of property possession throughout Abu Dhabi. All representatives of the Cooperation Council for the Arab States of the Gulf, as well as foreign nationals are only authorized to acquire real estate within special investment areas.
Foreign investors do not have right to possess land, on which real estate located. In order to get a land possession permit, they need to submit an application to the Abu Dhabi executive council.
Among the investment areas approved by the lands department of Abu Dhabi are such districts as Reem Island and Al Raha Beach. Government is also planning to add the districts of Saadiyat Island and Lulu Island to this list.
Dubai authorities have issued a directive, allowing companies that have a relevant license to carry out sale and purchase transactions related to land and real property. Companies are authorized to sell only state lands with the corresponding constructions projects preliminarily approved by the government. Prior to real estate acquisition in UAE it is necessary to make sure that a company providing due services has all necessary permits and licenses confirming its legal authority. If transaction is carried out on secondary property market, or by employing the services of a real estate agency, then it is necessary to examine property’s initial documents. The contract should specify property initial price and full seller’s personal information.
In order to purchase property in UAE, buyer should provide a range of documents. Private individuals have to provide their IDs, while companies – a registration certificate, company manifesto, board of directors’ resolution on investment, and company agent’s passport.
It is seller’s responsibility to draft an agreement for the buyer. This document should contain information on property area, price, location, etc. This agreement is the main document, confirming property owner’s rights. It authorizes the owner utilize property as they see fit, including the possibility of mortgage.
Getting an ownership title certificate
Having paid full property value, a new owner receives a title certificate for purchased property, such as land, apartment or house. It is seller’s responsibility to register the agreement in a local court. This process may take 7–10 days. archived version