Dubai is a dream destination that grabs the attention of millions of people around the globe. Its scenic beauty, marvellous architecture, and booming economy attract thousands of settlers from various nations. A truly multicultural city, buying a house in Dubai is a testament to one’s dream of realising the ultimate urban lifestyle with modern amenities.
Being a major economic hub with varied business opportunities, the employment scenario of the city makes it an ideal place to live and settle down. Not only that, but this also serves as a perfect place to retire and spend quality time. Furthermore, the real estate market of Dubai is one of the most prolific ones in the world with lucrative investment options.
Therefore, a large portion of foreign nationalities, including people from the UK, are always on the search for buying properties in Dubai. If you are one of them, you have landed at the perfect spot because we are here to give you a crisp and wholesome guide to buying property in Dubai from the UK.
If you are wondering whether buying property in Dubai from the UK is possible or not, we have good news for you. Of course, you can buy a home in Dubai from the UK. Dubai is a welcoming city that always has its gates open for foreign nationals to buy properties and settle down, or put it on rent as per their choice.
In fact, the Government of the UAE has initiated several policies and systems, including the UAE Golden Visa, to encourage foreign nationals to buy and invest in luxury properties in Dubai. These initiatives to promote buying property in the UAE have been a major force in fostering healthy relationships with foreign nations.
Please note that foreign ownership is permitted in Dubai in areas that are designated as freehold. Expat residents and non-resident foreigners can enjoy freehold ownership rights over a property without restrictions, usufruct rights, or leasehold rights for up to 99 years.
But making a huge property investment in Dubai involves a large chunk of money and requires you to be vigilant and observant of your actions. You need to make sure you have done thorough research to make a profitable investment. Try to follow a linear approach to ensure you are taking the right steps while buying real estate in Dubai from the UK, which brings us to our next section.
In recent years, there has been a huge surge in foreign nationals investing in and owning property in Dubai. Notable among them are investors from India, Canada, and Nigeria, among others, with UK citizens not falling behind.
Buying a property in Dubai as a foreigner can seem intimidating, but with the right knowledge, we believe you can secure your investment and make it profitable. To help you out, here is a blueprint of the process for the same.
The first order of business to buy a property in Dubai from the UK requires you to have clear objectives. You need to ask yourself certain questions so that you have complete clarity regarding your motives and abilities.
This includes answering whether you want to live in it or want to get rental income from it. You also need to figure out whether you want to buy an off-plan property or a readymade one. Additionally, question yourself what kind of unit you want and which location you prefer, among others. When you know everything about your intentions, the upcoming road becomes that much easier.
When you are dealing with a real estate market in a foreign nation, you need to be well aware of it. Even if you have dealt with numerous properties in the UK, you will find many anomalies and changes in the Dubai real estate market. Property value in Dubai is rapidly increasing because of growing interest, and this further proves how lucrative real estate investment in the city is.
The more you study beforehand, the more you will have the advantage of understanding the nuances of the property sector in Dubai. This will give you valuable insights into making the right judgment call in safeguarding your investment.
It is of paramount importance to get your finances in order before buying a property in Dubai from the UK. This is because the sky is the limit in Dubai. The more you explore, the more choices you will get. Rather than getting lost in a swarm of choices, you need to set a financial limit to secure your positioning.
You need to consider whether to buy properties with cash or a mortgage. Securing your finances is pretty easy, as many banks in Dubai cater to the needs of non-residents, and you will find competitive mortgage rates in the city.
You might be wondering whether it is safe to buy property in Dubai or not. Well, if you stay on the right side of the law, you will get all the necessary assistance from government authorities regarding any help you need on your purchase.
Consulting with a legal expert beforehand is a crucial thing to consider before buying a property. This will help make sure you are fulfilling all the requirements associated with the legalities of purchasing a property in Dubai from the UK.
A reliable real estate agent is your friend that you can lean on in making crucial decisions about your property. From navigating the real estate market to helping you negotiate terms and conditions with the seller, they will provide you with the much-needed insights to make smart decisions.
You need to make sure you are working with a registered real estate agent whom you can rely on in making informed choices. Look for their credentials before hiring them so that no one can wrongfully exploit you.
Although it is possible to purchase a property in Dubai from the UK and complete the process remotely, we encourage you to visit Dubai in person at least once to inspect properties.
Nothing beats the process of feeling the neighbourhood by taking a stroll around it, touching the materials used in the construction, and witnessing the amenities provided in proximity. So, after hiring a real estate agent, make sure to visit this dream city and feel everything first-hand before committing to the investment.
The ever-expanding real estate business of Dubai has resulted in the emergence of countless property developers who are competing with each other to beautify the city by creating architectural marvels.
Choosing an established property developer among them will ensure that you get timely delivery and quality construction. A property is not something you buy every day. So, make sure the developer you opt for provides you with plenty of choices and a safe investment option at the same time.
Once you have made the final selection of the property, start the process of drafting a sales contract and paying the down payment.
The transfer of ownership of the property will come next, which you need to complete at the Dubai Land Department (DLD). Make sure to get complete legal recommendations to ensure you have all the documentation that is required for the process ready.
If you are thinking about whether you can buy property in Dubai from the UK or not, we can emphatically say ‘yes’ to you. The city welcomes expats with open arms, and even if you are living in the UK, you can still get involved with buying a flat in Dubai, or any other residential or commercial unit, for that matter.
Just make sure you are following the aforementioned steps and opting for a reliable legal expert, real estate agent, and property developer to secure your investment.
Yes, a UK resident can buy property in Dubai, since both residents and non-residents in Dubai are allowed to purchase properties in the city. UK residents can invest in designated freehold areas of Dubai without any restrictions.
Yes, a non-resident from the UK can get a mortgage in Dubai. However, the requirements and process will differ from those for residents.
It must be noted that non-resident mortgages generally require a larger down payment and potentially higher interest rates in comparison to resident loans. As such, securing a mortgage from abroad needs meticulous planning and attention to the specific criteria set by financial institutions of the city.
In Dubai, property prices vary significantly based on location, size, and unit type. For instance, if you are buying an apartment in Dubai from the UK, specifically, a studio apartment, it can cost you around AED 400,000. But a luxurious apartment in a high-demand area can cost around AED 2 million.
To choose the right property in Dubai for you, you need to start by defining your purpose (investment or residence). Try to hire a RERA-registered agent to assist you with the entire buying process. Scout the location for factors such as infrastructure and amenities, research developers and project completion, and get an understanding of all ongoing costs and associated fees.
Take into consideration your budget for the down payment and mortgage, and factor in the specific characteristics of the property unit, such as its type, layout, capital appreciation potential, and prospective rental yields.
No, there is no personal Capital Gains Tax (CGT) in Dubai for individuals. The profit an individual earns from the sale of assets such as real estate, stocks, or any other investments is not subject to tax in the UAE, and by extension, Dubai.
But in 2023, the UAE Government introduced a federal Corporate Tax regime, under which capital gains can be taxable for companies under special circumstances.