Are there freehold properties available for foreigners?
Yes, Dubai allows foreign nationals to buy freehold properties in designated areas such as Dubai Marina, Palm Jumeirah, and Downtown Dubai and grants full ownership rights.
What are the additional costs when buying an apartment?
Buyers typically pay 4% of the property value as Dubai Land Department (DLD) fees, agency fees (usually 2%), mortgage processing fees, and property registration charges.
What are the benefits of buying an off-plan apartment?
Off-plan apartments often offer flexible payment plans, lower prices compared to ready properties, and the potential for high returns due to value appreciation after completion.
What legal process is involved in purchasing an apartment?
Buyers must sign a Memorandum of Understanding (MoU), pay a 10% deposit, and complete the property transfer at the Dubai Land Department. It is recommended that they hire a reputable agent or legal advisor.