FAQ

Dubai Land Department – DLD is a government agency that provides necessary legislation, organization, and services for any real estate transactions in Dubai.

Typically, an MOU is signed between the seller and prospective buyer, wherein the buyer commits to purchase the property and the seller commits to sell the property. An initial booking deposit (of not more than AED 100,000 for villas and apartments) to the seller, by the buyer. Now let’s have a look case wise:

Case 1: If the buyer withdraws from the transaction, the buyer forfeits his booking deposit.

Case 2: If the seller withdraws from the transaction, the seller refunds the booking deposit amount. The buyer pays the balance thought-about to the vendor upon transfer of the property to the client

This cannot be narrowed down to one particular factor. A plethora of factors exist namely:

1. a) The liberalization of the real estate sector – ex-pats can now own property
   b) High tax-free yields on freehold property rental
   c) Globalization and its effects on property prices in metropolitan cities worldwide
   d) Favorable interest rate environment
   e) Mortgages & homeowner finance available
   f) Granting of “permanent” residency upon purchase of freehold properties
   g) Great Value – Real estate land & apartment valuations are cheap compared to international prices
   h) Conducive lifestyle: safe, tax haven, secondary and tertiary home for international buyers
   i) Dubai’s robust economic growth p.a.(GDP)
   j) Dubai’s robust population growth p.a.
   k) Large mid-income population bracket with high disposable income
   l) Dubai is the regional entrepôt & tourism center
   m) UAE is an open, welcoming & tolerant state with investor-friendly business policies