Being the top-class legal consultants in Dubai, our firm receives several questions regarding how to buy a perfect property in Dubai. Or what should we keep in mind before making a purchase? And as always, we tend to provide the best legal services in Dubai with our far-fetched legal expertise and knowledge, and this helps our clients make wise decisions and see what’s best for them.
Although the real estate questions are primarily general, the one that keeps coming up every now and then is what we should know before buying any property?
To know the answer to this question seems problematic for people as there are always some unprecedented events that change without informing and might lead to an unsatisfactory ending. So, keeping all the things in mind, we have accumulated the top facts and ways to make the best decision before buying any property. What’s more exciting is that these facts and laws are all in compliance with the Dubai Legal Laws, and our professional advocates in Dubai recommend them to our clients.
5 Must-Know Legal Factors to Know Before Purchasing Real Estate Property in Dubai
With this being in focus, the below mentioned are the factors that you must know before purchasing or making an investment in the real estate property in Dubai. The Legal Laws highly recommend all these as per Dubai, UAE.
1. Decide Between Freehold or Leasehold
You need to think about and decide immediately if you wish to go for a freehold or a leasehold area. This decision between the two will help you better conclude on to the subsequent decisions and so on. People who are new in the United Arab Emirates and are trying to purchase a real estate property often regret without doing prior searches about the legality, etc.
The real estate market of Dubai has both freehold and leasehold areas, and it is too normal to get confused among the two. This is where our lawyers and advocates in Dubai strive to bring the best knowledge to you to help you plan your purchase.
The Freehold areas in Dubai are under the new laws decided and implemented by the Government of Dubai, making it easier for foreigners to buy properties in Dubai. On the other hand, the Leasehold areas in Dubai are the ones that no one can buy but can get a lease of that property. The lease period goes up from 10 years to 99 years in these properties.
2. UAE Citizen or Expat
The rules for buying real estate property in Dubai vary for UAE citizens and expats. One thing is certain no foreigner can get UAE citizenship by any means. This clarifies that the defined rules for UAE citizens and expats would always vary and remain different. Here are the prescribed rules for locals and expats for real estate properties in Dubai;
- As for the local Emirates, buying property anywhere in Dubai is free from all sorts of limitations. Be it for freehold or leasehold areas – there are no restrictions at all.
- On the other hand, the expats have to carefully learn about the listed properties in certain communities that are freehold, and any foreigner can buy those. Moreover, they can also lease a property for up to 99 years in a leasehold. But the ownership of the property will unarguably be of the landlord even after a time of 99 years.
As a local Emirate or an expat, if you’re willing to buy a real estate property in Dubai, knowing the legal laws and regulations becomes strictly significant. However, the top lawyers in Dubai at Mai Alfalasi help you out in this process to make your purchase and time worthwhile and legally binding in Dubai, UAE.
3. Purpose of Purchasing a Property
Another matter of extreme importance is to define the sole purpose of buying a real estate property in Dubai. This is what helps you out in shortlisting the best and right property for you. Now the intentions behind buying a property in Dubai vary from personal use to specific investment plans in mind. Here are some key points to know and think about;
- Now, if you’re buying a property for your personal use, Dubai offers tens of hundreds of choices to choose from and get yourself a property that you might have desired for a long time. The shift has greatly fallen on buying a property instead of renting one in recent years. So, if you want to buy a property for your personal use, make sure you have a checklist prepared for yourself. This reflects your preferences, budget, neighborhood, etc.
- On the other hand, if you are an investor and trying to buy a property with an investment-focused plan, Dubai offers tons of homes according to your preferences.
4. Neighborhood Expectations
Neighborhood expectations are another important factor in checking and evaluating your property in Dubai. For personal use and investment purposes, you must meet the expectations that help you assess your property and expectations from that property.
This is a major thing that most people don’t prioritize at first and regret later because of not finding an ideal property for them. Now the neighborhood has a lot of expectations regarding the place, from picking a place with less population to location, public transportation facilities to family-friendly areas, etc. Your property find must depend on a variety of factors, and this is what defines it perfectly.
5. Seek Legal Expert Advice
Buying a real estate property is nothing less than investing thousands and hundreds of dirhams. This amount can be your life savings, and investing them in the right, and legal way is what you should move with.
So, seeking legal and professional advice and expertise from the industry experts like Mai Alfalasi, the top-class Dubai advocates and legal consultants, will ensure that your investment is secure and done in a worthy place. Our legal advocates in Dubai, UAE, ensure that the process is smooth, transparent, and safe for both buyers and sellers.
The Final Words
One thing is certain that UAE and particularly Dubai are the best for the real estate market. The taxation system is expat-friendly, and the high living standards are always inspiring. However, the only needed thing is to understand how the investors or property buyers can get their hands on the best property by keeping all the legal ways connected too. For this, Mai Alfalasi is a one-stop solution for all of your real estate market needs. Thus, if you are looking to invest in real estate in Dubai, consult our best legal advisors in Dubai.
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Mai Alfalasi
Advocates & Legal Consultancy
1203, Green Tower
Baniyas Street, Deira
Dubai, United Arab Emirates
Phone. +971 4 223 0666
Whatsapp. +971 50 208 9986
Email. info@maaflegal.ae
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