Built inside out, Gaia Living has benefited from years of customer experience consulting the UAE & International real estate sectors including such brands as Wasl, Emaar, Meraas, Aldar, Dubai Properties, Sodic, Provis, Khidmah & others. Today, we are offering our customers services built by CX professionals & unparalleled 360-degree understanding of the markets of Dubai & Abu-Dhabi.

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Have questions?

For more detailed advice and support on buying off-plan properties in Dubai, reach out to Gaia Living Real Estate.

What are the requirements for buying property in Dubai as a foreigner?

Foreigners are allowed to buy property in designated freehold areas in Dubai. The key requirements include having a valid passport, a visa (either tourist or residency), and proof of funds for the purchase. There is no need for a residency visa to buy property, but having one can facilitate certain processes like opening a bank account or getting a mortgage.

What is the difference between freehold and leasehold properties in Dubai?

Freehold properties allow buyers full ownership of the property and the land it’s on, typically located in designated areas for foreign ownership. Leasehold properties, on the other hand, grant the buyer rights to the property for a fixed term (usually up to 99 years), but the land remains under the landlord's ownership.

Are there any taxes on property transactions in Dubai?

Dubai does not impose capital gains tax on property transactions. However, there are transaction-related fees such as the 4% DLD transfer fee and real estate agent commission. It's important for non-resident investors to check their home country’s tax regulations, as they might have capital gains tax implications there.

Is it necessary to hire a real estate agent when buying or selling property in Dubai?

While it is not legally required to hire a real estate agent, working with a professional agent can significantly streamline the buying or selling process. Agents provide valuable market insights, help with property valuation, handle negotiations, and manage the paperwork, ensuring a smooth transaction.

What are the benefits of investing in Dubai real estate?

Investing in Dubai real estate offers several benefits, including tax-free rental income, no capital gains tax, high rental yields, and a strong regulatory framework. Additionally, Dubai's strategic location, world-class infrastructure, and thriving tourism industry make it an attractive destination for property investment.

How long does it take to sell a property in Dubai?

The time it takes to sell a property in Dubai can vary widely based on factors such as property location, market conditions, and pricing. On average, well-priced properties can sell within 60-90 days. Working with an experienced real estate agent can help expedite the process by reaching a larger pool of potential buyers.

What is the process of selling a property in Dubai?

The process of selling property in Dubai involves several steps:
‍
‍Property Valuation: Determine the market value of your property through a professional appraisal.
‍Listing the Property: Engage a real estate agent to list your property and market it to potential buyers.
‍Negotiation and Offer: Once an offer is received, negotiate the terms and conditions with the buyer.
‍Sales Agreement: Sign a Memorandum of Understanding (MOU) outlining the sale terms.
‍NOC from Developer: Obtain a No Objection Certificate from the developer to proceed with the sale.
‍Final Payment and Transfer: Receive the final payment from the buyer and complete the property transfer at the Dubai Land Department.

Do I need to be present in Dubai to sell my property?

No, you do not need to be physically present in Dubai to sell your property. You can appoint a power of attorney (POA) to handle the sale on your behalf. The POA must be notarized and, if issued outside the UAE, it needs to be attested by the UAE embassy in your country and the UAE Ministry of Foreign Affairs.

Can I sell my property in Dubai if I have an outstanding mortgage?

Yes, you can sell your property in Dubai even if you have an outstanding mortgage. The process involves obtaining a liability letter from your bank, which states the outstanding mortgage amount. The buyer typically settles the outstanding mortgage directly with the bank, and the remaining balance is paid to you. Coordination between your bank, the buyer's bank, and the Dubai Land Department is crucial to ensure a smooth transaction.

What documents are required to sell a property in Dubai?

To sell a property in Dubai, you will need the following documents:

‍Title Deed: Proof of ownership of the property.
‍Passport Copy: Identification document.
‍Emirates ID (for residents): Proof of residency.
‍No Objection Certificate (NOC): From the developer, confirming that there are no outstanding service charges or disputes.
‍Signed Sales Agreement (Form F): The formal agreement between the buyer and seller.
‍Liability Letter: If there is an outstanding mortgage, a liability letter from your bank.
‍Power of Attorney (if applicable): If someone else is handling the sale on your behalf.

What financing options are available for buying property in Dubai?

Both residents and non-residents can apply for mortgages in Dubai. Banks typically finance up to 80% of the property value for UAE residents and 50-75% for non-residents, depending on the property type and borrower’s profile. Mortgage terms can vary, so it’s advisable to shop around for the best rates and conditions. Pre-approval from the bank can streamline the buying process.

What should I consider when choosing a property in Dubai?

Consider factors such as location, property type (apartment, villa, townhouse), proximity to amenities (schools, hospitals, public transport), potential for capital appreciation, rental yield, and overall community development. Additionally, check the reputation of the developer and the quality of construction.

What is the process of buying a secondary property in Dubai?

The process typically involves the following steps:

‍Find a Property: Work with a real estate agent to find a suitable property.
‍Make an Offer: Negotiate and agree on the purchase price with the seller.
‍Sign the Agreement: Sign a Memorandum of Understanding (MOU) outlining the terms of the sale and pay a deposit (usually 10%).
‍Obtain Financing: If needed, secure a mortgage pre-approval.
‍Get the NOC: The seller obtains a No Objection Certificate (NOC) from the developer.
‍Transfer Ownership: Both parties meet at the Dubai Land Department or a registration trustee office to complete the transfer, pay the necessary fees, and receive the new title deed.

Can I obtain residency in Dubai by purchasing property?

Yes, under certain conditions, property buyers in Dubai may be eligible for residency visas. The UAE government offers several visa options, including the Investor Visa, which grants residency to property investors who meet specific investment criteria. Typically, this involves purchasing property above a certain value threshold.

Can I buy property in Dubai if I am not physically present in the UAE?

Yes, you can buy property in Dubai even if you are not physically present in the UAE. Many property transactions are facilitated remotely through authorized representatives or power of attorney (POA). You can appoint a trusted individual or a legal representative to act on your behalf during the purchasing process. However, it's essential to ensure that all legal documents are duly notarized and authenticated to complete the transaction smoothly.

What consulting services do you offer for the real estate sector?

We offer comprehensive consulting services tailored to the needs of the real estate sector, including market analysis, investment strategies, feasibility studies, project development, and regulatory compliance. Our experienced team provides expert guidance and insights to help clients navigate the dynamic real estate landscape and make informed decisions.

What percentage of international buyers has Gaia Living Real Estate assisted with cross-border real estate transactions, and in which global markets are these buyers predominantly interested?

Gaia Living Real Estate has assisted approximately 30% of its clients with cross-border real estate transactions, spanning key international markets such as London, New York, Singapore, and Hong Kong. Our extensive network and expertise in global real estate enable us to cater to the diverse needs of international buyers seeking investment opportunities in Dubai and beyond.

What percentage of Gaia Living Real Estate's clients have achieved their desired selling price for their properties, and how does this compare to industry averages?

Gaia Living Real Estate has successfully negotiated selling prices that meet or exceed our clients' expectations for over 90% of properties listed. This significantly outperforms industry averages, demonstrating our ability to leverage market insights, strategic marketing, and negotiation skills to maximize value for our clients.

How many investment opportunities has Gaia Living Real Estate identified for buyers in emerging real estate markets, and what is the average return on investment (ROI) for these opportunities?

Gaia Living Real Estate has identified and presented over 200 investment opportunities for buyers in emerging real estate markets, such as Dubai's off-plan developments and up-and-coming neighborhoods. The average ROI for these opportunities ranges from 15% to 25%, reflecting the potential for significant capital appreciation and rental yield in dynamic and evolving markets.

How many real estate professionals does Gaia Living Real Estate employ, and what is the average industry experience of your consulting team?

Gaia Living Real Estate boasts a team of over 30 seasoned real estate professionals, each with an average industry experience of 10 years. Our diverse team includes experts in market analysis, investment advisory, legal compliance, marketing, and project management, ensuring that clients receive comprehensive support and guidance from highly skilled professionals with a deep understanding of the real estate landscape.3.5

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