Property in Dubai Buying property in Dubai - changed property laws in Dubai and the growth in tourism has led to huge investment in the property market in United Arab Emirates. With impressive new buildings, the biggest theme park in the world, a friendly city with no crime, all year sunshine and outstanding levels of service its no wonder that its the fastest growing city in the world today. In 2001, the Dubai government agreed to allow expats to take a 99-year lease on property in Dubai. However, in May 2002, the crown prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoom, issued a decree allowing foreigners to buy Dubai property on freehold ownership. This sparked the real estate boom in Dubai residential property. Property owners and their immediate family, can obtain renewable Dubai residence visas, costing approximately Dhs. 5,000 per person. Freehold property in Dubai is limited to the Sheikh Zayed Road and Jumeirah areas. The Dubai Market In 2002 Sheikh Mohammed bin Rashid Al Maktoum of Dubai had a vision to create the city of the future. In doing this and creating a truly cosmopolitan and global society, an international community would be required, and so the Sheikh decided to allow foreign investors to purchase property on Dubai soil. Dubai and the UAE's future is focused upon creating a business and tourism environment second to none which centres around incoming foreign investment from commercial institutions and individual investors. Why Invest in Dubai? Future Demand: Population is destined to increase from 1m to 3m whilst tourism will also triple from 6m to 15m, by 2010 Future Supply: All master-planning is Government controlled to carefully manage the demand-supply ratio thus maintain strong growth & returns No Capital Gains Tax: 0% No Rental Income Tax: 0% Legal & Notary Fees: None required, although legal advice is recommended Land Registration Tax: 1.5% (this is paid to the Government on completion) Transfer Fee: 1-7% (this is paid to developer on resale of contract before completion) Buying Process: Simple. No Company formation is nor National registration required Payment Structure: Following an initial reservation deposit, a deferred payment structure is usually provided by the developer with payments spread over the construction period Finance: This is available to non-UAE residents only on certain projects, with competitive interest rates from 6 - 9%, and usually with 15 yr terms and reasonable conditions Capital Appreciation: Recent years have risen between 15 - 25% annually Rental returns: Recent years have returned between 10 - 20% annually Freehold: The right to obtain freehold rights on your property is provided with most non-UAE purchases of property. Residency: Resident visas are supplied with non-UAE purchase on property Buying off-plan properties in Dubai Purchasing off-plan properties in Dubai is a relatively simple process which does not require use of a lawyer, however of course we do recommend you do always take legal advice with any financial investment. All property investment available to foreigners in Dubai is within special zones master-planned by governmental organizations, and as a result the contract structures must be passed before the government before they can ask customers to sign. There is no capital gains tax or income tax within Dubai itself. For more advice on purchasing property in Dubai, please contact us Finance and Mortgages In Dubai Mortgages in Dubai are not yet the developed and versatile product we are gratefully accustomed to here in the UK, and they are not available on all developments. Each individual developer is required to negotiate for finance to be provided on a per-development basis. This situation is expected to change drastically once Freehold Law is ratified (see below). Lenders (generally local banks, finance companies or HSBC Dubai) conduct due diligence analyses on those developments that have requested finance first, and due to the large marketing budgets and extreme aggressiveness of the market often these developments do sell out even before finance is available. When finance is provided, such as with Al Hamra, the loan will most likely have a maximum term of 15 yrs and be of repayment status only (no interest only loans). Interest rates vary between 6% and 8% and as with the majority of overseas loans for UK investors, an individual's net disposable income is required to be roughly 3 x the figure for the monthly mortgage repayment. Loans usually offered range from between 50% to 75% LTV. Our Services: WE carefully select property investment opportunities from politically stable countries that indicate excellent economic growth, have internationally respected legal systems, stable currencies, attractive tax policies and will provide strong investment yield and growth. We have selected a variety of investments in and around the Dubai Emirate to cater the demand of investors. Our Prices are direct from the developer and there is no extra charges on the top. We notices that some agents in UK and Dubai, often add an "agents margin" on the top of the developers selling price. We provide an honest and reliable services. Please click here or see below for a listing of some of the properties we are promoting in Dubai. See the listings below of our investment properties in Dubai for sale Dubai Property Features: Dubai property has only recently been made available for purchase by foreigners and the interest worldwide is incredible. The Dubai real estate & property market is very active and is expected to remain so for the foreseeable future. The purchaser of property in Dubai is entitled to a Residence Visa ; Properties in Dubai are all finished to a very high standard; Dubai property prices are low compared with other developed countries; There is no income tax or capital gains tax applicable on property sales or rentals in Dubai; There is no stamp duty, legal fees on freehold property in Dubai - apart from a 1.5% land registry fee on completion; Rental income from Dubai property is presently between 8 - 10 %; Capital growth on Dubai property is expected to be in excess of 15% per annum; Mortgages are available in Dubai to foreigners to purchase Dubai real estate; The UAE Dirham is pegged to the US dollar which makes it a stable currency; Although Dubai is a Muslim country, there is a very tolerant attitude to the western culture;