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Buy Property in Dubai

Step-by-Step Guide to Buying Real Estate in Dubai

Buying property in Dubai can be complex for first-time buyers, investors, and expats. This comprehensive guide will walk you through the real estate buying process in Dubai, including budgeting, financing, legal requirements, and tips to ensure a smooth transaction.

1. Determine Your Budget for Dubai Real Estate

Before you start searching for properties, calculate what you can afford. Consider the following:

  • Agency fee: Typically 2% of the property price.
  • Transfer fee: 4% of the property price payable to the Dubai Land Department (DLD).
  • Mortgage down payment: Usually 25% for expats.
  • Loan interest: Approximately 3–4%, depending on the lender and term.

Your real estate agent can help you finalize your budget and understand all associated costs.

2. Get Pre-Approved for a Mortgage

If you are financing your purchase, obtaining pre-approval is essential.

  • Confirms your budget and strengthens your offer.
  • Bank issues a pre-approval letter valid for 60 days.
  • Helps you act quickly when you find the right property.

3. Choose a Trusted Real Estate Agent

Select a licensed real estate agent with experience in your preferred areas.

  • A professional agent understands the market and your budget.
  • Clearly communicate your preferences: property type, size, and community.
  • Saves time and ensures you view only suitable properties.

4. Start Viewing Properties

Your agent will shortlist properties that match your requirements.

  • Arrange viewings in multiple communities.
  • Compare properties for price, amenities, and location.
  • Ask about nearby facilities, maintenance fees, and developer reputation.

5. Make an Offer

To secure a property:

  • Submit your offer in writing.
  • Include a 10% deposit cheque.
  • Provide copies of passports and Emirates IDs for all title deed holders.

6. Sign the Memorandum of Understanding (MOU)

Once your offer is accepted:

  • Sign the MOU, also known as Form F.
  • Hand over the 10% deposit.
  • The MOU outlines terms and conditions of the transaction.

7. Sales Progression and Mortgage Finalization

If using a mortgage:

  • Bank conducts a property valuation.
  • Obtain the final mortgage offer letter.
  • Seller may need to settle any existing mortgage before NOC application.
  • Average processing time: 6–10 weeks.

8. Apply for the No Objection Certificate (NOC)

  • NOC issued by the developer after all dues are cleared (service charges, fees).
  • Payment may range from AED 500–5,000.
  • Developer may inspect the property and require a refundable deposit.
  • Processing time: Up to 5 working days.

9. Transfer Property Ownership

At the Dubai Land Department (DLD):

  • Pay the purchase price via manager’s cheque.
  • Pay 4% DLD transfer fee and administrative fee (up to AED 4,000).
  • Receive a new title deed in your name.
  • Settle any overpaid service charges with the seller.

10. Receive Keys and Move In

Once ownership is transferred:

  • Collect keys and move into your new home.
  • Ensure utilities and maintenance services are activated.