Advice on buying UAE United Arab Emirates Property Real Estate

You have found an UAE United Arab Emirates property you wish to purchase in UAE United Arab Emirates what next?

Buying Property in UAE United Arab Emirates - Costs of Purchasing UAE United Arab Emirates Property

UAE United Arab Emirates Property Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.

Foreign nationals are now allowed to buy freehold properties in designated areas in Dubai. Gulf Cooperation Council (GCC) nationals are allowed freehold real estate ownership anywhere in the Emirates.

Properties can be registered, and foreigners can be granted Land Certificates by the Dubai Lands Department. The sale agreement and other required documents are lodged at the Department for registration.

While there are no taxes related to property in the UAE, there is news that Dubai is to have its own stamp duty of around 2%-8%.

The transaction costs include all costs of buying and then re-selling a property - lawyers' fees, notaries' fees, registration fees, taxes, agents' fees, etc.

United Arab Emirates Currency:

The United Arab Emirates uses the UAE Dirham (AED) . The exchange rate as of 09 May 2008: US$1 = AED 3.67270. Property value is US$250,000 i.e., approximately AED 918,000 (918,175).

United Arab Emirates Title Deed:

Issuance of Title Deed by the Land Department costs AED250 (US$68).

For issuance of title deed through establishment of ownership of land for which no title deed was issued before, the cost is AED5,000 (US$1,361).

Registration Fees:

Sale Registration Fee, 1% each for buyer and seller, is paid to the Land Department of the Government of Dubai.

Real Estate Broker's Fee: The broker's fee ranges from 1% to 5% of purchase price, depending on the type of property and the overall purchase price.

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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.

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