All You Need to Know About Investing in Dubai Real Estate
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Dubai is the cultural melting pot of the world. Dubai’s world class infrastructure, urban planning,......
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Read MoreThe short and simple answer to this question is – Everyone. Dubai is a truly global city that’s open for business in every way including real estate. This means that whether you are a citizen, expat, or even a tourist you have the ability to purchase property in Dubai. There are no restrictions of any kind and the best part is that the fees for doing so are the same for all buyers regardless of status.
Possibly the most important consideration for the majority of would-be buyers – How much is a property in Dubai? The answer to this question depends on a number of factors most notably what and where you are buying. To keep things as simple as possible, below is a price summary for all three property types in what would be considered an average or as it is often referred to a “middle income” area: Please note, the above table represents what is roughly the average cost for each property type and category. Dubai real estate prices do vary so there are of course some cheaper and some much more expensive options.
The official currency of Dubai and the UAE is the UAE Dirham. The dirham is pegged against the US dollar with a fixed exchange rate of 1 USD = 3.67 AED. This means that the value of the dirham is always stable against the dollar making it one of the safest currencies to do business with.
Buying property in Dubai is extremely safe. The Dubai government along with the relevant regulatory bodies have gone above and beyond to ensure buying in the city is not only safe but attractive for all those interested.
Just like most countries around the world buying real estate with a mortgage is not only possible but quite common. Thre are multiple local and international banks for buyers to choose from.
Houses in Dubai are in some cases expensive. The city is a global hub and full of luxurious properties so this is hardly surprising. With that said Dubai does have its fair share of low-cost and medium-income housing options.
The Dubai Land Department or DLD as it’s often referred to is a government-run entity in Dubai that oversees all real estate-related trading operations. Its primary function is to legalize the sale and purchase of land, boosts investment, and provide customers with a highly integrated, transparent, and secure real estate experience.
Yes, foreigners of all nationalities can purchase property in any of Dubai’s designated freehold areas.