As for the amount of knowledge that a purchaser should have, it is vital for buyers to at least have some knowledge about the property they are purchasing and the buying process as well as the most significant information that every owner of a property in Dubai should know before investing in this real estate market. Selecting the best agency would be the key to making the complete investing process ten times easier as it will assist in every step.
Is it possible to buy a property in the UAE without going through a property broker?
Yes, it is possible to buy a property in the UAE without using the services of a real estate agent. There is a newly launched online property transaction platform, DirectSB. On this platform property sellers can sell their properties and property buyers can buy properties without a real estate agent. There are following steps to buy properties directly from the owner.
- Search www.directsb.com
- Login Here
- Find Property
- Get the Contact Details of the Owner
Following Steps to sell your property
- Search www.direct.com
- Login Here
- Submit Your Property Details
Does buying a property in the UAE entitle me to a residence visa?
Investor residence visa
Real estate buyers in the Freehold Zones of the UAE are given a resident permit of two years. Before delving in, it’s imperative to recall that investors requiring a loan have to be prepared to provide fifty percent down. This, then, is dependent on the number of owners willing to take part in the syndication and thus the amount of investment required by the company. The minimum subscription amount applicable for individual investors is AED: 750,000. However, when spouses are registered as owners of real estate, then the minimum investment should be not less than AED 1 million. Lovers may also add their partners, while systems may add their children under the age of 18 to the application.
Five-year residence visa (Green Visa)
Purchasing is permitted only through a local company that deals with the sale of property and the property should have a gross value of AED 2 million and above. To source the investment amount, several local loans from some commercial banks may be sought. The investor must have held the property at least for two years a requirement that implies that the property must be owned by the investor. Also, the investor must acquire one or more off-plan properties from authorized local real estate firms at a minimum value of AED 2 million.
10-year residence visa (Golden Visa)
Nothing has changed over the down payment or the status of the property whether it is completed, under construction, or mortgaged or not, applying for the Golden Visa is now possible if the investor has a property worth AED 2 million or above.
Investment properties with a value of AED 2 million and above can now be bought by intending investors desirous of the status of permanent residency in the United Arab Emirates. For the persons who intend to invest in the area, this edition has some property options.
There is also a better time frame given by the Golden Visa with a validity period of 10 years renewable under the same terms, allowing the investors more time to set base in the UAE and accumulate more capital. Simultaneously, investing for a longer period allows the investors to acquire firsthand experience on cultures, business standards traditions, and so on, essential for the investors to initiate the expansion of their investments and the formation of new businesses.
During the application for such visas, one needs bank statements, a copy of the passport showing the visa, the title deed of the property as well as the good conduct certificate.
Can I buy property in Dubai if I am not a resident?
Real estate investment is a wise investment since it is usually a long-term investment. Dubai is one of the world’s largest megacities and it is vital to understand that the returns on investments in real estate in this city look much more favorable as opposed to other megacities around the globe.
To respond to your question, there is no need for a residency visa to purchase immovable property in the UAE.
