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I’m moving to Dubai from abroad. How easy is it to get a property?

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08 Sep

During almost 20 years of working in Dubai real estate, we have been privileged to work with many investors from different countries. For a variety of reasons which we’ve already touched on, Dubai is one of the most attractive cities in the world to invest in – and also move to. In fact, since the pandemic and various other world events, lots more people have moved to Dubai and the population is constantly growing at an alarmingly fast rate.

So how easy is to buy a property in Dubai and what do I need to know?

1. Timeframe

Firstly, you can can start and finish the process of buying a property in Dubai in just a few days. I think my record is 48 hours. You can view the property, get an offer accepted and then apply for the NOC (No Objection Certificate) in just a few hours. Then the transfer takes place in the Dubai Land Department Trustee office.

I have a client from Singapore who came to buy a property in Dubai but saw something she wanted, made an offer, applied for the NOC and got the transfer done before she left. It was done in a matter of days. She was so surprised and impressed that now she is planning to move to Dubai and says she wants to live here forever.

I’ve had other instances where I’ve met clients at the airport, had them sign documents and then they’ve gone straight back on the plane. It really can be that quick, unlike other countries where the process can take months. Also, the system is electronic so is very modern and simple and at the same time paperless.

I’m currently working on the sale of land in Spain that until now has taken over 12 months to complete – and it’s still not done. This would never happen in Dubai!

2. Off-plan or existing development?
If you’re buying from an off-plan development that isn’t finished yet, the process can be even quicker. You will see a presentation, pay a deposit and then you’re the owner. They will handle the registration process for you so within a few hours the property’s yours. Obviously the risk here is that you don’t have much time to think about the development, so make sure you thoroughly read and understand the terms and conditions and the payment plans.

3. Meet the agents

Be careful in Dubai regarding agents, and ensure the ones you’re meeting are RERA registered and ask for their ORN (Office Registration Number) or BRN (Broker Registration Number). Make sure they’re registered and then they can talk you through the fast and electronically-managed contract process.

4. Understand the costs

We’ve already written about the true costs of buying a property in Dubai, but you should always plan about 6 per cent extra for fees and costs, including what you pay the agent. It’s worth checking our guide on this so you aren’t hit with any surprise costs at the ‘checkout’ stage, and if you’re fully prepared, getting your hands on your dream home should be a straightforward process!

Tags: RERA Off-Plan Villa Townhouses News Blog Lifestyle Travel


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