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Who can I buy property from In Dubai?
You have two choices when purchasing a property in Dubai, you can either purchase direct from the developer or you can purchase from someone who has already bought the property from a developer (this is called a secondary purchase). When purchasing from a developer you will most likely be buying “off plan”, this means that the project is not completed. It may take up to 2 years for an “off plan” property to be completed, but there are big advantages to purchasing this way. They are:
• No transfer fees
• Much lower initial payment compared to a secondary purchase
• Your payments can be spread over the construction of the property
• There will be no premium to pay
If you choose to secondary purchase a property in Dubai you can expect the project to be either already completed or close to completion. However you will be paying more for this type of property as there is high demand for completed property in Dubai. Your costs will usually include a 2% transfer fee and a larger initial payment.