thought leadership in Dubai's real estate market
learn the ropes
If you need a mortgage to buy your property, you need to know how much money you are able to borrow.
Are you buying a property for an investment, a new home or both? Do you want to buy a completed project, one under construction (off-plan), or a resale?
Find an agent that is registered with RERA to assist you with your property search.
Take time to review your investment options, view the apartments and take a tour of the surrounding area.
Prepare all required documents and research what fees you may need to pay and when.
Sign a memorandum of understanding and pay relevant reservation fees.
At the stage of drafting the sales and memorandum of understanding it is advised to consult a lawyer.
Register at the Lands Department and transfer ownership to receive your temporary title deed.
For each project these can differ; please consult your agent to make you have funds ready for your payments.
Have the title dead registered in your name.
Take a tour of the areas you may want to live in, get advice from your broker on the best areas for your requirements (local transport, schools, etc.)
Second step to Rent Check that you can afford the property you are interested in. Include property deposit, rent advances, brokerage fees, moving costs, down payments for gas, DEWA and telephone and internet connections, existing payments, transport costs, food and other regular expenses.
Make a list of the property features that are important to you
If you have found a property you like, take measurements and then do the same for any furniture that you want to move in to make sure it will fit.
Check if the air conditioning works. Inform the landlord if you have any doubts regarding the quality of the electrical wiring or plumbing. Ask your consultant to help you with this.
Prepare all required documents
Landlords can require one cheque as an upfront annual payment while others accept multiple cheques. Payments are usually made through post-dated cheques.
Most tenants pay 5% of the annual rent as a deposit to the landlord to secure the property and brokerage companies usually charge another 5% of the annual rent as part of their agency fee. A tenancy contract clearly stating the landlord and tenant’s name will then be drawn up.
Check that the previous tenant has no outstanding DEWA bills/associated bills and the landlord has paid service fees and provided an NOC with permission to move into the apartment.
Sign your tenancy agreement and register with Ejari.
the location makes all the difference