Dubai Real Estate Guide
Buying a Property
Working with the right Real Estate Broker
With over 12,000+ active Dubai Real Estate brokers in the market, mixed with differing cultural and regional standards and expectations, it is essential you choose a broker that you can trust in order to guide you through the process of your Real Estate transaction in Dubai. Local knowledge of the market, legislation and procedures are essential tools our agents proudly equip themselves with to deliver an exceptional service
Authorised Buyers
Whether you are based overseas or a resident of Dubai, you have the option to purchase a property in Dubai’s designated freehold areas. You are not required to hold any type of residency or similar permit to be eligible to purchase properties in Dubai.
Any natural or legal person can own a property in Dubai, though in case of registration under a company’s name, it must be incorporated in Dubai onshore zone or in certain dedicated offshore or free zones
Time Frames
An average resale property transaction in Dubai takes around 30 days to be finalised, starting from the date of both parties approving the Unified Sales Contract F. Off-plan property deals can be completed within one day
Due Diligence - Conveyancing
Penbrook Real Estate provide a comprehensive and reliable due diligence, conducted for and on behalf of our customers. When supporting your deal in the secondary market, we’ll make sure the ownership is legal and authentic and ensure the various sale contracts covers are reviewed accordingly. In off-plan deals, we always make sure the developer has all legal rights for the development or the necessary contracts with the land owner are in place, verify the registration of the developer and the project with the Real Estate Regulation Authority, check the existence of the Escrow account for the project and developer’s compliance with the construction schedule.
Buyer Fees - Purchasing in the Dubai Secondary Market
Agreed Sales Price
DLD Transfer fee - 4% of the Agreed Sales Price
No Objection Certificate from the Developer can range between AED 500 and AED 10,000 plus VAT
Registration Trustee Fee is 4,000 AED plus VAT for properties valued over AED 500,000, and AED 2,000 plus VAT for properties below AED 500,000
Broker’s commission varies between 2% to 5% (plus VAT) of the Agreed Sales Price
Mortgage registration fee (if applicable) is 0.25% of the registered loan amount
Title deed issuance is 580 AED
There may be additional payments associated with the service charge and utility payments for the properties
Buyer Fees - Purchasing Off-Plan in Dubai
Booking deposit around AED 5,000-37,000, dependent on the property value; the deposit is adjusted towards the 1st installment for the property
Installments are usually 5% to 10% of the property value paid every three months; convenient post-handover plans are often available
OQOOD (interim title) registration fee: 4% from the property purchase value + AED 3000 admin fees
Fees are subject to change. Our Real Estate Brokers will highlight all costs at the time of offer
