How can expats buy their own property in Dubai?

Thanks to its thriving economy, excellent infrastructure, and attractive lifestyle, Dubai is a top location for expats from all over the world. Yet, because of differences in culture, legal complications, and financial laws, buying property in Dubai may be a confusing task for foreigners. Rest assured, once you’ve familiarized yourself with the process, buying a property in Dubai will be an easy feat.

Understand the legal framework

Understanding the legal framework is the first step in purchasing a home in Dubai. The Dubai Land Department (DLD) is in charge of all property transactions in Dubai and has a comprehensive set of laws and regulations governing property ownership. You can buy a house in Dubai as an expat in specified regions known as freehold zones. Popular destinations in these areas include Dubai Marina, Downtown Dubai, Palm Jumeirah, and Jumeirah Lake Towers.

Determine your budget

When you've determined the location in which you want to buy a home, the following step is to figure out your budget. Property costs in Dubai can vary greatly based on location, home type, and amenities. To identify the price range that best fits your budget, conduct research and contact a skilled real estate agent.

Get a pre-approval for a mortgage (if required)

If you intend to finance your home purchase with a mortgage, you need to obtain pre-approval from a reputable bank or lender. This will help you determine how much you can afford to spend and will also allow you to negotiate a better bargain with the vendor. Pre-approval not only tells you how much you're eligible for when it comes to mortgages, but it also makes you a much better candidate for sellers, who want someone guaranteed and without complications. It’ll help your buying process go by much faster and smoother. 

Choose a reputable real estate agent

When purchasing a house in Dubai, it is critical to work with a trustworthy real estate agent. A qualified agent will assist you in navigating the legal complexity, locating homes that meet your needs, and negotiating a fair price with the seller. They will also be able to walk you through the full purchase process, from inspecting properties to filling out paperwork. At Betterhomes, we have highly qualified, experienced, and knowledgeable agents that specialize in areas all over the country. 
 

Make an offer

If you’ve found the perfect house, congrats, you can now make an offer to the seller. Based on market circumstances and other criteria, your real estate agent will be able to advise you on the optimum price to offer.
 

Complete the paperwork

If your offer is approved, the documentation must be completed. This will entail signing a Memorandum of Understanding (MoU), paying a deposit, and finalizing the ownership transfer with the DLD.
 

Pay the fees

While purchasing real estate properties in Dubai, there are several fees associated with it. Other than the cost of the actual property, you will be responsible for registration, transfer, and agency fees. When looking at your budget for this purchase, it is important to include those fees.
 

All in all, purchasing your forever home in Dubai as an expat is a pretty straightforward process if you’ve got the right support. With its great infrastructure, booming economy, and enviable lifestyle, Dubai has become one of the best cities to buy real estate, and that goes for whether you decide to buy it as an investment or as your forever home.