All real estate legislations in the Emirate of Dubai stress the necessity of registering all real estate transactions including ownership, transfer or change with or without consideration in order to guarantee the rights of investors. All dispositions on real estates that are not registered in the registers of the DLD are invalid.
You are eligible for UAE investor visa as long as your total investment is AED 1,000,000 or above in one of maximum three properties.
There is no direct property tax in Dubai. However, there are fees involved in property ownership, such as a monthly housing fee and a transfer fee.
The emirate’s RERA has introduced numerous measures that needs to be met by developers to make sure the off plan project is completed. Of those measure, the developer must own 100% of the land belonging to the project. Additionally, they must either deposit 20% in escrow account, make a downpayment of 20% as bank guarantee, or at least 20% construction completion before selling the off plan property. The regulatory arm of Dubai Land
Department than requests contractors to submit a 10% performance guarantee.
It’s crucial that buyers do through research and advise looking the developer’s track record as well as reputation. Make sure the developer, project and project’s Escrow account are all registered in the Dubai Land Department’s Real Estate Regulatory Arm (RERA).
It is nearly impossible to predict exact timelines. However, the fundamental law of supply and demand always prevails: when Dubai’s property market has more buyers than sellers, prices will inevitably rise. Typically, the market experiences gradual increases with occasional sharp surges—unless an unexpected catalyst event, like Expo 2020, which drove foreign investment, disrupts this cycle.
In Dubai, the best time to sell a property is often during the cooler months,
specifically from October to April. The weather is more pleasant during this period, which can attract more
potential buyers.
a. Monitor the local real estate market in Dubai to assess market conditions,
such as supply and demand dynamics and pricing trends.
b. Consider any specific factors that may impact the Dubai real estate market, such as major events, government policies, or economic changes.
c. Working with a local real estate agent who has expertise in the Dubai market can provide valuable guidance on the optimal time to sell based on current conditions.
d. Keep in mind that individual circumstances, property type, and location within Dubai can also influence the best time to sell a property. 1,000,000 or above in one of maximum three properties.
A mortgage may be transferred from one financer to another provided that a NOC is obtained from the mortgagee bank.
Raising a formal complaint against your landlord in Dubai involves following certain procedures to ensure your concerns are addressed appropriately. Here’s a step-by-step guide on how to do it:
1. Understand your rights: Familiarize yourself with the laws and regulations governing tenant-landlord relationships in Dubai. This includes the Dubai Rental Law and any specific terms outlined in your tenancy contract.
2. Communicate with your landlord: Before initiating a formal complaint, try to resolve the issue amicably by discussing it with your landlord. Send a written communication, preferably via email or registered mail, outlining the problem and requesting a resolution.
3. Contact the Real Estate Regulatory Agency (RERA): If your landlord is unresponsive or the issue remains unresolved, you can contact RERA, the regulatory authority for real estate in Dubai. You can reach out to them through their website or visit their office in person.
4. Submit a complaint: Prepare a formal complaint letter addressing RERA. Include details about the issue, relevant dates, any attempts at resolving the matter with the landlord, and attach copies of any supporting documents. Be clear and concise in explaining your concerns.
5. Visit RERA’s Dispute Settlement Center (DSC): After submitting your complaint, you will be invited to the DSC. During the visit, you and your landlord will have the opportunity to present your cases and provide evidence to support your claims.
6. Mediation and Resolution: The DSC will attempt to mediate a resolution between you and your landlord. If both parties agree on a solution, the matter will be resolved. If not, the case may be escalated to the Rental Dispute Settlement Committee (RDSC).
7. RDSC Hearing: If the dispute is escalated, a hearing will be scheduled before the RDSC. Here, both parties will present their arguments and evidence. The RDSC will then issue a judgment based on the merits of the case.
8. Appeal: If you or your landlord disagree with the RDSC’s judgment, you may appeal the decision within the specified time frame. The appeal will be heard by the Appeals Committee for Rental Disputes.
9. It’s essential to maintain all communication records, receipts, and documents related to the dispute throughout the process. Remember to remain patient and follow the official procedures diligently. Please note that the legal processes and regulations might change over time, so it’s advisable to check for the most up-to-date information from official sources or consult with a legal professional to ensure you are following the correct procedures.
It is conditional on the cause. There will be a clause in your contract that says the landlord is responsible for maintenance exceeding AED 500 for general wear and tear. However, if there is any damage, you will be held liable.
There is no direct property tax in Dubai. However, there are fees involved in property ownership, such as a monthly housing fee and a transfer fee.
Recent amendments now allow real estate investors to obtain the highly sought-after Golden Residence Visa when purchasing a property that is worth no less than AED 2 million. As per these new amendments, investors are also entitled to obtain this long-term visa when purchasing a property with a loan from specific local banks. Investors can also get the residence when buying one or more off-plan properties of no less than AED 2 million from approved local real estate companies. This long-term, 10-year residency is granted to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes. Recent amendments also allow the Golden Visa holders to sponsor their family members including spouses and children of any age. They can also sponsor any number of support services (domestic help). Family members are allowed to stay in the UAE in the event of the death of the Golden Visa holder.
RERA and DLD are two separate government agencies in Dubai that have different roles and responsibilities in the regulation and management of the real estate sector. Dubai Land Department (DLD) is responsible for the registration and regulation of real estate transactions in the emirate of Dubai. It oversees various functions related to land and property, including sales and purchases, leases, mortgages, and other property-related agreements. The DLD also sets regulations and standards for the real estate sector, manages the Dubai Real Estate Registration Trustee, and provides various services to the public, including property valuation, registration, and ownership certificates. Real Estate Regulatory Agency (RERA) is a regulatory body that operates under the DLD’s umbrella and oversees the activities of developers, brokers, and other real estate professionals in Dubai. It is responsible for ensuring compliance with regulations related to real estate transactions and protects the rights of buyers and sellers. RERA sets guidelines and standards for the real estate sector, manages the Dubai Brokers Register, and handles complaints and disputes related to real estate transactions. In summary, the DLD is responsible for the overall management and regulation of the real estate sector in Dubai, while RERA is a specialized regulatory agency that operates under the DLD’s umbrella and oversees the activities of real estate professionals in Dubai.
Stay up-to-date with the latest market trends in Dubai real estate through DXB Interact. The platform provides users with invaluable insights into property transactions, market dynamics, and investment opportunities, enabling you to stay ahead of the curve and capitalize on emerging trends
At Ultimate Choice, we believe that real estate is more than just buying and selling properties—it’s about building legacies, lifestyles, and lasting relationships.
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At Ultimate Choice, we believe that real estate is more than just buying and selling properties—it’s about building legacies, lifestyles, and lasting relationships.
At Ultimate Choice, we believe that real estate is more than just buying and selling properties—it’s about building legacies, lifestyles, and lasting relationships.
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