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Risks And Rewards Of Buying Property In Dubai

Author: Hassan Elhais
by Hassan Elhais
Posted: Sep 19, 2017

Dubai has long been a popular location for investors, especially expatriates. According to property lawyers in Dubai the dynamics and life style of Dubai, coupled with business opportunities stemming from its superior geographical position has now made it a global choice for investors to purchase real estate in Dubai.

However, property advocates advise that an in-depth study be conducted prior to entering into any real estate transactions in UAE. Some developers are still selling leasehold titles. Such leasehold titles will only be valid for the period which is stipulated in the title deed issued by the Dubai Land Department. This becomes even more valid because property prices in the emirate have been on the increase since the global financial crisis.

Many expats consider Dubai as an international property hotspot. However some

property lawyers in Dubai fear that the consequent surge in price may lead to a property bubble. While there is no signs of alarm yet, and although demand is still exceeding supply and will not slowdown in the near future there is a lot of supply coming on the market as the Expo 202 comes closer.

The primary advantage of owning real estate in Dubai is that taxes in the emirate are almost non-existent. There is no capital or withholding taxes unlike many other western countries. In addition, Dubai does not charge Capital Gains Tax nor does it levy tax on income derived from letting property within the emirate.

Whether buying off-plan or resale properties, it is important for buyers to ask plenty of questions to determine the reputation of either the developer or the real estate agent. If buying from a developer, you will want to look at the developer’s reputation particularly with respect to quality as well as being able to deliver on time.

Your search for the best property lawyer in Dubai ends here. One of the top legal firms in Dubai and UAE, Al Rowaad Advocates & Legal Consultancy offers a whole suite of legal services for organizations and individuals.

About the Author

Dr. Hassan Elhais is professional Divorce Lawyers Dubai, UAE, who has obtained a diploma in Private Law

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Author: Hassan Elhais

Hassan Elhais

Member since: Jan 08, 2016
Published articles: 27

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