The Best In Dubai - FAQ - Your Questions

FAQ’s: Your Questions

Can Anyone Buy a Property?

Anyone can buy a property in Dubai, the property market had a massive boost as the concept of freehold properties was introduced in the city of Dubai for the first time in any country in the Gulf. H.H. General Sheikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and U.A.E. Defense Minister, announced that certain properties in Dubai were available to all nationalities with 100% freehold ownership.

 

What are the weather conditions like?

The Climate in the UAE has a sub-tropical, arid climate with infrequent and irregular rainfall, Temperatures range from a low in November to April with an average, eight hours of sunshine per day with the temperatures ranging from a very pleasant 20C - 28C. In the summer the average daily maximum is 24 degrees in January, rising to 42 degrees in July with hardly any rain during summer periods.

 

Do I need a Bank Account registered in the UAE?

Holding a bank account is not a pre-requisite to buying a property, therefore you are not required to hold a bank account.

Do I Receive Residency when I Buy a Property?

Residency Visa's are available, and for travellers holding passports with a right of residence in the following countries can get a visa on arrival at Dubai International Airport - a visit visa valid for 60 days is stamped directly in your passport by immigration officials: Andorra, Australia, Belgium, Brunei, Canada, Denmark, Finland, France, GCC Countries, Germany, Great Britain, Greece, Hong Kong, Iceland, Ireland, Italy, Japan, Liechtenstein, Luxembourg, Malaysia, Monaco, The Netherlands, New Zealand, Norway, Portugal, San Marino, Singapore, South Korea, Spain, Sweden, Switzerland, USA, Vatican City. The aforementioned countries and Visit Visa Validity are subject to Dubai's DEPARTMENT OF NATURALIZATION AND RESIDENCY terms and conditions.

 

Will I have to Pay Taxes?

There are no taxes applicable of any kind when buying a property in Dubai, there are also no business taxes in Dubai (except in the banking industry).

 

What do I pay today when I Buy a Property?

A reservation fee to secure the price and your property (normally £1,500 (UK POUNDS) then within 7 days a Deposit of between 10% to 15% - on signing the reservation form (less the reservation fee already paid), and a further 10% to 15% - normally within 30 days (depending on development) from signing the reservation form. Thereafter a percentage of the total purchase price in further installments based around milestones in the construction process, some developers offer Interest Free payment plans over 3 yr, 5 yr and 7 yr periods; for full details on specific installment payments to secure your property please email us (info@thebestindubai.co.uk) and include your telephone number and we will contact you.

Are Mortgages available?

There are several banks in the UAE that offer Mortgage financing for DAMAC Properties’ customers. Banks such as Mashreq, ADCB, UNB have short listed DAMAC Properties for mortgage lending. Financing can be up to 90% and for up to 20 years depending on status, eligibility of borrower and ongoing credit policies of the concerned bank. Mortgage for Non-UAE residents is also available subject to status. Details can be obtained from the Banks or from Damac’s Mortgage department - for further details please email us (info@thebestindubai.co.uk) and include your telephone number and we will contact you.
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