The process of buying a property in Dubai could hardly be any easier. Dubai, unlike several of the other emirates, offers overseas buyers freeholds, rather than 99-year-leaseholds; this means that Dubai property is yours forever and can be passed along to your family, or you can sell as you wish. Legal representation for buying properties in Dubai isn't required either, although it may be worthwhile as an extra level of protection.

Mortgages from almost all western countries are welcomed and, although not offering the same variety of options and payment plans as in the UK; for example, there is a wide range of home-financing options available in Dubai itself, with many developers of homes in Dubai often offering fantastic rates. Some mortgage lenders will even pre-approve the loan before you find a property, so you know exactly what price you can afford. 50 - 75% LTV loans are typical.

Buying Off-Plan in Dubai

If buying off-plan property in Dubai, then it's simply a case of putting down a deposit - standardly 10% - at the contract signing stage, and then there's a structured pay plan until the property reaches completion. This could involve increments of 10-20% every three to six months.

Re-sales of Dubai properties are very slightly more complicated, because once a price is agreed with the owner, a charge of 1-7% must also be paid to the developer, who will update the title records. The contract is then reissued in the buyer's name, no stamp duty need be paid and the whole process takes a matter of minutes.

Finally, the purchaser of Dubai real estate must pay the agent commission which is usually 2 or 3%.

Also see: Dubai tax system.

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