Buying in Dubai

Who Can Buy?
Any investor, overseas or resident, can purchase in Dubai’s property developments.

Leasehold or Freehold?
Freehold is available for most of the developments Bebo Real Estate Broker deals with. In some cases there is a mixture of freehold and 99-year leasehold property.

Mortgages
Mortgages are available on a 10 to 25-year basis through Bebo Real Estate’s major banking partners. Interest rates are linked to those in the United States, since the UAE Dirham is pegged to the USD Contact us for further details.

Payment Terms
In general, a deposit representing 10% of the buying price is required at the contract-signing stage for all new development properties. This is followed by what are known as stage payments that are made at regular intervals through to completion. Contact us for project-specific details.

Bank Accounts
Buyers do not need a local bank account to arrange purchases. However, Bebo Real Estate will be happy to introduce our local banking partners.

Government Tax
There are currently no government taxes of any kind when purchasing a property in Dubai. There is no Capital Gains Tax either. However, when the Dubai Land Department registers a title, buyers will pay a 2% tax based on the purchase price of the property. Development Service Charges Service charges are payable to developers for maintenance, landscaping and refuse collection. These charges vary per development.

Residency
In general, the Dubai Government issues residence visas to new property-owners and their immediate family, against a fee and only once the property is completed. The Visas will need to be renewed every three years as per the latest immigration regulations.

Appreciation
Property prices in Dubai have experienced considerable growth, and are forecasted to remain strong for 2008. Talk to Bebo Real Estate Property Consultants for project specific information.

Shortage of supply
The Dubai Government is working hard to prevent a shortage of supply and is giving land to developers as an incentive. What looks like massive supply today in Dubai Is still not fully meeting demand. Dubai is after all growing its GDP by 7-8% a year and shows no sign of slowing down.

Tax Free Income
Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment.

International Business Centre
Long recognised as the leading regional trading hub of the Middle East, Dubai has now become an international business and re-export centre. The country has developed rapidly over the past 10 years and has transformed itself from an oil dependent regional hub into a highly diversified international business centre of global significance, which offers opportunities for business people in all sectors.

Tourism


Buy v Rent
Any long-term resident will pay significant amounts in rents, so it is advisable to purchase the property, since a purchased property with mortgage is still cheaper than the rented.

Returns for Investors
Prices for properties in Dubai are appreciating steadily at the rate of 15% - 20% per annum, (for some developments even greater).

Attractive Currency Rates
The local currency, AED (Dirham) is fixed with the US dollar (3.675 AED: $1).