Guide for Non-Resident Foreigners Buying Property in Dubai

Is Buying property in Dubai as a foreigner is beneficial? Do you also have the Same question in your mind? This is the common question asked and enquired by everyone.

So finally, your search ends here, Inch & Brick Realty is here with a proper guide for you to buy property in Dubai. You will get the answers here for all your questions.

Yes, if you're from another country, like an expat or a non-resident investor, you can buy property in Dubai and have full ownership rights. You can buy, sell, or rent out the property. Just keep in mind that this is allowed only in freehold areas in Dubai, as decided by the government.

Eligibility Criteria For Foreigners To Buy Property in Dubai

As we have discussed above, the Dubai Real Estate market is open to both expat or non-resident investors in Dubai. It defines that there is no requirement for residence visa to buy property in Dubai. However, only a valid passport is required to verify the identity of the investor while buying property in Dubai.

Foreigners who are interested in buying property in Dubai can get the facility of Mortgage from the banks as compared to expat residents and UAE nationals as they have limited options. This mortgage facility differs from bank to bank. To apply for a Dubai mortgage as a non-resident, you'll typically need to provide documents such as bank statements and proof of your employment status.

TOP AREAS TO BUY PROPERTY IN DUBAI AS A FOREIGNER

Another frequently asked question by foreign investors is, ‘ In what areas can they buy property in Dubai? ’

Foreigners can buy property in Dubai, particularly in designated zones known as freehold areas. These sought-after neighbourhoods, often near popular tourism place in Dubai, offer an interesting investment option to the investors to choose from different types of property.

BENEFITS OF BUYING PROPERTY IN DUBAI FOR FOREIGNERS

Are you still debating whether to invest in Dubai’s real estate sector or not? Here are some of the advantages you'll experience in this strategically positioned emirate. Foreigners can now buy property in Dubai and enjoy a range of benefits.

COMPETITIVE PROPERTY PRICES

One significant benefit for international investors is the competitive property prices in Dubai when compared to other major cosmopolitan hubs.

HIGH RENTAL YIELDS FOR PROPERTIES

Foreigners buying property in Dubai can also enjoy high rental returns on their investments. Villa properties in Dubai, for example, provide an attractive average return on investment (ROI) of up to 7.98%, and apartments offer impressive rental yields averaging up to 9.04%.

Non-resident foreigners owning property in Dubai can gain excellent returns on their investment

THE TAX SYSTEM IS INVESTOR-FRIENDLY

Currently, the UAE imposes no taxes on purchased property or rental income, enabling overseas investors to enjoy robust returns on their property investments.

INVESTORS CAN OBTAIN A RESIDENCE VISA

On another note, Dubai Tourism, in collaboration with the General Directorate for Residency and Foreign Affairs (GDRFA), has introduced a retirement program in Dubai for expats, enables foreign nationals aged 55 and above to secure a five-year residence golden visa by owning property valued at AED 2 million (USD 544.5k).

PROPERTY MANAGEMENT SERVICES ARE AVAILABLE FOR YOUR PROPERTY :

Dubai real estate, they opt to engage property management companies to oversee their property, managing both its maintenance and legal aspects.

If you are a foreigner and want to invest in Dubai real estate. Do not have a deep knowledge about property investment in Dubai. Get comprehensive knowledge about every step to buy property in Dubai on Inch & Brick Realty. Do contact us to clear all your queries about investment.