Buying a UAE Property as a Foreigner: What to Know

Living in the UAE can feel like a home away from home. However, if you’re planning to relocate, the process of buying property can be a bit daunting, especially if you’re not familiar with the real estate process.

Can You Buy a Property in Dubai?

If you love living in the UAE and want to live there permanently, you can buy a property in Dubai. A foreigner can buy residential and commercial property in Dubai in freehold.

What are the Benefits of Buying a Property in Dubai?

Buying a property in Dubai has many benefits. The city is a major financial hub in the Middle East and a major tourist destination, so the value of a property often goes up over time. Here are some of the benefits:

Competitive Prices

The property market in Dubai is very competitive, so you can always find something to suit your needs and lifestyle, even if you’re on quite a budget. However, the majority of the properties in Dubai have a high price tag, but they’re worth the amount.

Sophisticated Real Estate Market

The real estate market in Dubai is both sophisticated and efficient. There are hundreds of realtors and developers in Dubai, so you have a wide choice of properties to choose from.

Reliable Property Laws

The UAE has very reliable property laws that are in place to protect both the buyer and the seller. The government regularly updates these laws to ensure the market remains stable and fair.

Multiple Payment Options

Buying a property in Dubai is a long-term commitment, so the buyer and the seller can agree on an installment plan that works for both of them.

Freehold Option

Property prices in Dubai can be very high. In fact, the value of land far outweighs the value of the building on it. The government of Dubai offers freehold title to a property, which means that the property owner owns the land and building it’s built on. This provides a good investment opportunity.

How Much Does it Cost to Buy a Property in Dubai?

The cost of a property depends on the location and size of the property and the current market prices. Depending on the area, you can also find properties in different price ranges. Some properties in Dubai sell for as little as US$40 000, while some properties sell for over 2 million US dollars. Most properties in Dubai cost between US$100,000 and US$500,000.

Buying a Property in Abu Dhabi

Based on Law No.19 of 2005 Concerning the Regulation of the Real Estate Sector in Abu Dhabi, expatriates can own properties in the form of apartments and floors only, but not lands. Foreigners can own them through the following: 

• Ownership: Foreigners can get ownership deeds of residential units for 99 years, which will let them fully dispose of the apartments and villas they purchased. 
• Musataha: Expatriates can own residential units for 50 years. It entitles the owners to use, construct or alter a property within a specific period.
• Usufruct: This allows foreigners to own residential properties for 99 years. It entitles the owner to use the property and its facilities without changing it. 

There are nine designated areas in Abu Dhabi where foreigners can purchase a property:

1. Yas Island
2. Saadiyat
3. Reem
4. Mariya
5. Lulu
6. Al Raha Beach
7. Sayh Al Sedairah
8. Al Reef
9. Masdar City

Invest in the UAE

UAE is one of the best places to purchase properties due to its growing economy, political stability, foreign investors friendly environment, and rich culture. Buying a property in Dubai is an excellent option for long-term investment.

Buy a property in Dubai today. Dacha Real Estate is a top property agency that provides high-quality real estate for sale and lease, as well as comprehensive property management services. Contact us!