How can I buy a property in Dubai as a foreigner?
In Dubai, foreigners can buy properties in designated "freehold" areas. The process involves signing a sales contract, paying a deposit (10-20%), and finalizing the transaction through a notary or developer. Ion Boboc will guide you step by step through the entire process.
What does Off-Plan mean and what are the advantages?
Off-Plan means buying a property before construction is completed. Advantages include lower prices compared to ready-built properties, flexible payment plans, and significant appreciation potential as the project progresses.
What is the average rental yield in Dubai?
The average rental yield in Dubai ranges between 5% and 8% per year, depending on the area and property type. Areas like Dubai Marina, Downtown, and Jumeirah Village Circle offer the best yields for investors.
What taxes do I need to pay for a property in Dubai?
In Dubai, there is no income tax or capital gains tax. The only costs are a 4% transfer fee (paid once at purchase), agent commission (0%), and RERA registration fees. There are no annual property taxes.
How long does the purchase process take?
The purchase process for an Off-Plan property typically takes 2-4 weeks for contract signing, with completion at handover (6-24 months from launch). For ready properties, the process can be completed in 30-60 days.
Do I get a residence visa if I buy a property?
Yes, buying a property worth at least 750,000 AED entitles you to a renewable 2-year residence visa. For properties over 2,000,000 AED, you can obtain a 10-year visa (Golden Visa).
.jpg)
