First congratulations on home buying decision, but you need to know about the process of buying a real estate in Dubai. Look, buying property in Dubai can be a complex process, but with the right guidance, it can be a smooth and successful experience. This property buying guide will provide you with an overview of the steps involved in buying a property in Dubai, from setting a budget to transferring the property.

Here are some key things about Dubai property buying guide to consider 


Set a budget

Before you start looking for properties, it is important to determine how much you can afford to spend. This will include the purchase price of the property, as well as any associated fees, such as transfer fee (4%), mortgage interest (3-4%) and agency fees (2%). If you want to buy a property through cash, ensure that the cash is accessible in UAE on transfer time. The next point is to decide on the location but keep remembering that not all the properties in Dubai are accessible on a Foreign passport. Search those freehold areas that are open for foreign passports and choose them wisely according to your budget.


Get a mortgage pre-approval

Once you have a budget in mind and you need the mortgage, you can start shopping around for a mortgage. Arrange a mortgage advisor who will get mortgage bank pre-approval for you. Getting a mortgage pre-approval will show sellers that you are a serious buyer and will help you narrow your search to properties that are within your price range. You have to deposit 20% for mortgage approval if your property is under 5 million AED. If your property is higher than the value of 5M AED, then you have to deposit a minimum of 30% for mortgage approval.

Learn more:

Navigating Bank Requirements with a Mortgage Broker

Mortgage Options for Non-Residents

Understanding Bank Requirements for Mortgages

Finding the Right Mortgage Broker in Dubai


Find a RERA-qualified broker

While setting a budget is crucial for your Dubai property search, this guide emphasizes mitigating risks as equally important. To ensure you’re working with a trustworthy, professional, look for a realtor certified by the Real Estate Regulatory Authority (RERA). This certification verifies their qualifications and protects you from potential issues. The Dubai Land Department even offers a free online tool to confirm an agent’s RERA credentials by name, company, or unique Base Registration Number (BRN). Don’t hesitate to ask the agent to show you their physical RERA card for additional peace of mind. By taking these steps, you can minimize the risks associated with buying property in Dubai and embark on your search with confidence.


Submit a Proposal

When you finally locate the perfect property in Dubai, be ready to act quickly! Having your mortgage application pre-approved in advance simplifies the offer procedure. This improves your negotiating position and shows sellers that you are financially prepared. Furthermore, if your offer is approved, having your 10% deposit safely and easily accessible in trust expedites the closing process and demonstrates your seriousness. Avoid missing out by being a prepared and quick-moving buyer!


Secure the Property

After reaching a price agreement, both buyer and seller solidify their commitment with a legally binding Memorandum of Understanding (MoU), known as Form F by the Real Estate Regulatory Authority (RERA). This document, completed through the Dubai Brokers App, outlines all the intricacies of the contract, including any rent or service charges that may apply, and sets a clear timeline for the official property transfer. To secure the deal, the buyer presents the seller with a 10% down payment check and a separate post-dated check for the brokerage commission. Importantly, a 14-day cooling-off period is granted after signing the MoU. This window allows you to reassess the purchase and withdraw if necessary.


Apply for NOC

Before finalizing a property sale in UAE, Dubai, a crucial step involves obtaining a No Objection Certificate (NOC) from the developer. This requires all parties – buyer, seller, and a developer representative – to meet at the developer’s office. The NOC acts as a green light, issued only after the developer confirms that there are no outstanding service charges on the property and any modifications made by the seller adhere to their guidelines. Often, a developer representative will visit the property itself as part of the NOC application process.  Some developers might also require a refundable deposit from the buyer. This deposit is returned solely after the ownership transfer is finalized and the developer’s records are updated, which typically takes up to 5 working days.


Transfer the property

The big day arrives! Finalizing your Dubai property purchase signifies the exciting start of your journey and unlocks a world of benefits. On transfer day, you’ll convene at your broker’s office with your conveyancer, the seller, and your broker. Remember to bring cash or a manager’s cheque for both the property purchase and the 4% DLD transfer fee – these are the only accepted payment methods. Following verification and official registration of the sale by the Dubai Land Department (DLD), you’ll be presented with your new title deed and property keys. Congratulations! Now you can begin reaping the rewards of Dubai property ownership, whether it’s capitalizing on a tax-free investment or enjoying a luxurious lifestyle. By following the property buying guide, you can ensure that your property purchase in Dubai is a smooth and successful experience.

Additional Tips

Do your homework

As this guide emphasizes, explore Dubai’s diverse neighborhoods before diving into your property search. Consider your priorities – proximity to work, access to vibrant cafes, or a family-friendly environment with quality schools. Aligning your lifestyle with the right area is key to a successful purchase.

Negotiating is expected

Don’t be surprised if the first price you hear isn’t set in stone. Be prepared to negotiate about price of property with the seller to get the best deal possible.

Get someone on your team

Having a lawyer look over any contracts before you sign is a smart move. They can explain things in plain English and make sure everything is on the up and up.

This is just the beginning

We hope that this guidance on buying properties in Dubai will be helpful to you as you begin your property search. Keep in mind that this is only a broad summary and that, for counsel tailored to your particular circumstances, it is always better to see a specialist.


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