Insights

The first and most important thing to do is set a budget. If you are a cash buyer, you also need to ensure that the funds are UAE-accessible when the time comes to transfer. Factor in the property price, a 2% agency fee, a 4% transfer fee and potential mortgage interest (around 3-4%). After setting a budget, think about the different areas you would like to reside in Dubai. Remember, not all properties in Dubai are accessible for purchase by foreign passport holders. Keep your search to freehold areas like Dubai Marina, Downtown, and many others. Freehold properties grant you complete ownership of the property and the land the property is built on. You can easily browse properties for sale in the UAE here, and even look inside any residence you like with professional photos and videos.

If you need a mortgage, then having a reputable mortgage advisor on your side is a must. They can arrange bank pre-approval, which will dictate your spending limit. Don’t forget that a minimum 20% deposit is required for mortgage approval to buy property in the UAE if the property value is under AED 5 million. For properties that are priced higher than AED 5 million, you’ll need a minimum of a 30% deposit. To schedule a call with one of our trusted mortgage advisors, or to try our mortgage calculator, click here.