Dubai Real Estate
The philosophy is simple yet effective. We have engineered a solution to effortlessly cater for the high net worth citizen via our trusted and professional team for all of your unique requirements.
Rental Payments
- Unlike the US, in Dubai rent is paid in either 1 check at the start of the rental period, or through 4 post-dated checks
- Landlord/tenant law is much more landlord friendly than in the US
- The Rental Dispute Center is a government operated branch that, among other objectives, ensures landlords are protected
Types of Properties
- Condos
- Townhouses/Villas
Types of Projects
- Off Plan/Pre-Construction
- Ready Properties
Affordability
These are sample properties based on available listings. It’s important to understand that Dubai is an extremely diverse real estate market with a wide variety of property types, locations, communities, and prices.
According to Dubai Land Department data compiled by PropertyMonitor, In July of 2023:
- The average price per square foot in Dubai was AED 1,167 (USD $318)
- There were a total of 10,533 transactions
- Lowest Transaction Price (USD): $44,000 in Arjan
- Highest Transaction Price (USD): $30,475,000 in Jumeirah Bay Island
- These two properties are within 30 minutes of one another just 25 Kilometres (15 Miles) apart.
| Unit Type | Property Type | Size (Sq. Ft.) | Location | Price (USD) |
|---|---|---|---|---|
| 1 Bedroom | Condo | 800 | Jumeirah Village Circle | $250,000 |
| 2 Bedroom | Condo | 1,400 | Downtown Dubai | $600,000 |
| 3 Bedroom | Townhouse | 2,200 | Dubai Hills Estate | $1,000,000 |
| 4 Bedroom | Villa | 5,000 | District One | $3,500,000 |
| 5 Bedroom | Villa | 14,000 | Palm Jumeirah | $16,000,000 |
1 Bedroom
$250,000Type
Condo
Size
800 sq.ft.
Location
Jumeirah Village Circle
2 Bedroom
$600,000Type
Condo
Size
1,400 sq.ft.
Location
Downtown Dubai
3 Bedroom
$1,000,000Type
Townhouse
Size
2,200 sq.ft.
Location
Dubai Hills Estate
4 Bedroom
$3,500,000Type
Villa
Size
5,000 sq.ft.
Location
District One
5 Bedroom
$16,000,000Type
Villa
Size
14,000 sq.ft.
Location
Palm Jumeirah
Payment Methods
Accepted Payment Methods
- Bank Transfer
- UAE Bank Manager Check
- Credit Card (Visa/Master Card/American Express/Discover)
- Union Pay
- AliPay
- Apple Pay
- Samsung Pay
- Google Pay
- JCB
- Bitcoin
Cryptocurrency
- Dubai is one of the global leaders in allowing cryptocurrency to be used in daily transactions thanks to the Virtual Assets Law
- Many developers allow buyers to use cryptocurrency to buy property, usually with a small fee
- For secondary sales and developers that do not have a built in system for accepting cryptocurrency, there are a number of 3rd party providers that will exchange cryptocurrency into local currency.
Payment Plans and Mortgages
Developer Payment Plans
The majority of real estate developers offer construction linked payment plans for their projects that are under construction, also referred to as ‘Off Plan Project’s. Some developers have even offered Post Handover Payment Plans, with the developer effectively financing their buyers well after the completion of the project as an alternative to mortgages and bank financing.
Conditions:
- Over 21 years old with valid passport
- Non-Residents are eligible for up to 60% LTV
- The Rental Dispute Center is a government operated branch that, among other objectives, ensures landlords are protected
Non Resident Mortgages
- It is possible, and common, for non-residents to acquire mortgages in Dubai
- Non-resident mortgages are growing rapidly, with a 70% YoY increase
- Average mortgage interest rate
- Dubai: 4%
- US: 7%
- Required documents
- Valid passport (as proof of identity)
- Bank statements (for the last 3 to 6 months; as proof of funds)
Buying Process
Off-Plan/Pre-Construction
- Identify Property
- Perform due diligence on developer and escrow account
- Submit down payment
- Pay 4% DLD Fee
- Receive pre-title registration (oqood) after paying 25%
- Complete payment, receive title deed, and join owner’s association
Ready Property
- Identify Property
- Determine payment method (cash or mortgage)
- Obtain financing if required
- Deposit funds in escrow account managed by one of our top law firm partners
- Pay 4% DLD Fee
- Receive title deed and join owner’s association