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FAQ

Questions and Answers

What is Ejari?

Translated from Arabic, this word means «My rent.» This is the name of a special electronic system designed to regulate and register lease agreements in Dubai. It is this system that makes the rental market in Dubai one of the most regulated. All lease agreements must be registered in this system.

What is off-plan?

Off-plan refers to real estate in the preliminary or initial stage of construction. That is, it is property under construction.

Do I have to pay property tax if I live abroad?

Residents living abroad are not required to pay property tax. However, if the property is intended for commercial purposes, a 5% VAT is applicable.

Is buying property in Dubai a good investment?

Absolutely. Investing in property in Dubai offers numerous advantages that make it a lucrative choice:

  • Dubai does not levy annual property taxes.
  • Once the necessary duties are paid, there are no ongoing periodic or additional taxes.
  • Investments worth at least 1 million AED can make the buyer eligible for a UAE resident visa.
  • Dubai boasts high rental yields, outperforming other cities in the world.
  • Foreign nationals have the same property ownership rights as UAE citizens, allowing full ownership and the freedom to sell the property as desired.

Can you rent out the purchased property?

Yes, according to UAE law (Law No. 26 of 2007), citizens of other countries can rent out their property. Renting can be done independently or with the assistance of a licensed company.

How much can I earn by renting a property?

With a long-term lease, you can expect an annual income of approximately 8% of the property’s value. However, if you opt for short-term rentals, you can earn up to 15% of the property’s value annually.

When can a buyer sell a property?

According to UAE legislation, there is no mandatory period of real estate ownership before resale. Owners can sell their property even the day after its acquisition.

Can you make transactions with real estate by proxy?

Owners or buyers of real estate can appoint a trustee and grant them an appropriate power of attorney. The trustee will have the authority to handle real estate transactions on behalf of the owner.

One can make sale and transfer transactions within two years after the power of attorney is issued.

Can you get a mortgage in Dubai, and how?

Yes, banks in Dubai offer mortgage loans with different rates and terms. They provide financing for both ready-to-occupy properties and those under construction. Foreign citizens are also eligible for international mortgages on real estate. To qualify for a mortgage, borrowers must:

  •  hold citizenship from a bank-approved country,
  •  have a stable income source,
  • pay a down payment, typically 20% of the property’s value,
  • meet the bank’s minimum monthly income requirement, which may vary for UAE expats and non-residents.

You must also be 21 to 65 years old (if employed), while self-employed individuals can obtain mortgages until the age of 70.

Which neighborhoods in Dubai are ideal for buying apartments?

For profitable investments, consider purchasing apartments in business districts like Downtown, Business Bay, and Al Wasl, or tourist-populated areas such as Beachfront, Dubai Marina, and Jumeirah. Families seeking a peaceful environment may prefer quieter locations like Dubailand, JVC, JLT, and MBR City. For sophisticated buyers with high incomes, luxury options are available, including Damac Lagoons, Dubai Hills Estate, and Damac Hills.

Which neighborhoods in Dubai are ideal for buying apartments?

For profitable investments, consider purchasing apartments in business districts like Downtown, Business Bay, and Al Wasl, or tourist-populated areas such as Beachfront, Dubai Marina, and Jumeirah. Families seeking a peaceful environment may prefer quieter locations like Dubailand, JVC, JLT, and MBR City. For sophisticated buyers with high incomes, luxury options are available, including Damac Lagoons, Dubai Hills Estate, and Damac Hills.

What does a golden visa in the UAE give?

The «Golden Visa» is issued for 5 and 10 years to real estate owners, foreign entrepreneurs, investors and scientists. With a «Golden Visa» you can freely live and do business in the UAE, open a local bank account and become a tax resident of a country with a comfortable tax regime. To obtain a visa, the owner of the property must invest at least 2 million dirhams. (~545k USD).

How much does a studio in Dubai cost?

As of the second half of 2023, the cost of a studio in Dubai in new buildings is from $120,000.

How much does an apartment in Dubai cost?

As of Q2 of 2024, the average cost of an apartment in Dubai is about $. Depending on the neighborhood of Dubai, prices can range from $150,000 to $ $450,000 and from $350,000 to $700,000 by the sea and beaches.

How much is a 1-bedroom apartment in Dubai?

In 2024, the average cost of a 1-room apartment in Dubai is about $130,000. The standard area is 40 sq. m.

How much is a 1-bedroom apartment in Dubai?

In 2024, the average cost of a 2-bedroom apartment in Dubai is about $130,000. The standard area is 75 sq. m.

Where are the apartments more expensive in Moscow or Dubai?

Apartments in Dubai are slightly more affordable than in Moscow in roughly comparable areas. An additional bonus of housing in Dubai is the finished finishing and furnishing in most projects.

Can you buy property in Abu Dhabi?

Foreigners can purchase property in Abu Dhabi under conditions similar to Dubai, with freehold zones available for ownership.
Buyers have the option of interest-free installment plans for off-plan properties or obtaining a mortgage.
The Government of Abu Dhabi actively supports the real estate market, making it more appealing to international investors.

Which areas of Abu Dhabi are popular?

Yas Island is one of the most sought-after areas in Abu Dhabi among tourists. It offers a compelling alternative to Dubai, with its turquoise sea, spacious white sand beach, and tranquil lifestyle.
The construction of the island began in 2007 under the leadership of Aldar, the largest developer in the Emirate. Today, Yas Island provides all the essential amenities for a comfortable life, including shops, restaurants, schools, and clinics.
Its main attraction is the wide range of entertainment options, attracting tourists from all over.

What are the main developers in Abu Dhabi?

The primary developer in Abu Dhabi is Aldar Properties, a state-owned company. Since 2004, Aldar has implemented large-scale projects ranging from Yas and Saadiyat Islands to iconic attractions like Ferrari World, the Louvre Abu Dhabi, and the Formula 1 race track.

The developer provides units with complete finishing, including a kitchen, built-in wardrobes, and bathrooms. In some projects, appliances and furniture are also included in the price.

Is it worth investing in Abu Dhabi?

The Abu Dhabi real estate market offers attractive investment opportunities compared to a hotter Dubai market.

The region is experiencing significant investments, business growth, infrastructure upgrades, and an increasing inflow of tourists.

In Q1 of 2024, real estate transactions in Abu Dhabi reached $4.32 billion, compared to $3.16 billion in the same period the previous year.

What are the differences between life in Dubai and Abu Dhabi?

Life in Dubai and Abu Dhabi has notable differences despite both emirates offering a high level of comfort and well-being. Here are some key distinctions:

  • Dubai has a higher population density than Abu Dhabi.
  • Dubai serves as an international hub for trade and finance, while Abu Dhabi is known for its oil industry and hosting government organizations.
  • Dubai is vibrant and socially active, whereas Abu Dhabi offers a quieter environment with numerous cultural institutions.
  • The cost of living in Dubai is generally higher than in Abu Dhabi.

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Tagir Tapaev

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