Most people want to move to the shores of the azure sea in more comfortable conditions. There are hundreds of comfortable places in the world, and here we will consider the question of how to buy a house in Dubai for a foreigner. Off-plan in Dubai Marina is a great option if you are one of those who plan a long-term profitable investment.

Rights of a real estate owner

Foreign homebuyers receive the same property rights as Arab citizens (gift, lease, resale, inheritance).

Since February 2019, the law has changed and now foreign investors are issued “golden visas”. With an investment of  AED 1 million, the validity of this document is 2 years and it will not be possible to resell the property during the specified period, otherwise the visa will be canceled.

If the investment in housing amounted to more than AED 5 million, then a visa is issued for a period of 5 years, more than AED 10 million – for 10 years. But it is important to consider that 60% of these amounts should fall on assets not related to real estate (business, shares, other assets).

But still, foreigners also have obligations. In Dubai, you do not need to pay taxes, however, it is important to pay the annual fee for the maintenance of the facility and the area around it on time. The exact amount will depend on the area and developer.

Real estate transaction

Dubai is notable for the fact that a foreigner does not need to go through numerous bureaucratic operations, so buying a home takes place in just 4 stages:

If you plan to buy a property under construction, the procedure will be even simpler. You can get legal advice and information on all relevant properties in Dubai that are ready for purchase from the special websites.

Three areas to find property for sale in Dubai

  1. Sobha Hartland, which is a 10-minute drive from the Burj Khalifa, a five-minute drive from the largest mall in the world, Meydan one Mall, and a 10-minute drive from Business Bay. The property is located in the area of Mohammed Bin Rashid City known as MBR City named after the Sheikh of Dubai, suitable for investment. This is a chic place, the sheikh’s residence is also located here and as much as 40% of the territory is given over to landscaping. This is a good sleeping area with developed infrastructure. The cost of real estate starts from USD 270,000, with an interest-free installment plan for 5 years.
  2. The second very promising housing is DAMAC Lagoons. This is a gated community where townhouses and villas are located surrounded by greenery and crystal lagoons. It is planned to build cinemas on the water and in the open air. Prices start at USD 430,000 for a three bedroom townhouse next to a crystal lagoon. In this area, real estate will also grow by at least 40% after its delivery.
  3. Everyone wants to live in the Dubai Marina area, because all the sights are concentrated here: skyscrapers, artificial palm islands, the geometric shape of which increases the length of the coastline. It inspires and delights. This area is attractive for renting out, as a secondary market. Real estate in this area has already increased in price by 120%, and the numbers will grow by about 40-70%.

Real estate in Dubai

Emirates.Estate is a website with a database of real estate for every taste and budget options. Go over to the website and check out the prices and offers for yourself!