How to Buy Property in Dubai from the UK?
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 settlements from various nations. A truly multicultural city, living in a chic city such as Dubai is a testament to one’s dream of fulfilling the ultimate urban lifestyle with modern amenities.
Being a major business hub, the employment opportunities of the city make it an ideal place to live and settle down in. Not only that, this also serves as a perfect place to retire and spend quality time in. Not to mention, the real estate market of Dubai is one of the most prolific ones in the world.
Therefore, a large portion of foreign nationalities, including people from the UK, are always on the search of 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.
Can I Buy a House in Dubai from the UK?
If you are wondering whether you can buy a house in Dubai as a foreigner, we got good news for you. Of course, you can. Dubai is a welcoming city that always has its gates open for foreign nationalities to buy properties and settle down or put it on rent as per their choices.
In fact, the Government of the UAE has initiated several policies and systems including the Golden Visa to encourage foreign nationalities to buy and invest properties in Dubai. These initiatives have been a major force in fostering healthy relationships with foreign nations.
But making a huge investment that involves a large chunk of money 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 and follow a linear approach to ensure you are taking the right steps while buying properties in Dubai, which brings us to our next section.
Steps to Follow While Buying a Property in Dubai from the UK
Buying property as a foreign in Dubai can seem intimidating but with the right knowledge, we believe you can secure your investment and make it profitable. Here is a blueprint of the process of buying a property in Dubai as a foreigner.
Define Your Goals
The first order of business while buying properties 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 it’s to live in or get rental income from, whether you want to buy off-plan property or ready to move in, 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.
Research the Real Estate Market
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. The more you study beforehand, the more you will have the advantage of understanding the nuances of properties in Dubai. This will give you valuable insights into making the right judgment call in safeguarding your investment.
Consider Financial Budget
It is of paramount importance to get your finances in order before buying a property in Dubai from the UK. The sky is the limit in Dubai. The more you will 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. 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.
Fulfill Legal Requirements
You might be wondering as to whether is it safe to buy property in Dubai or not. Well, if you stay on the right side of the law, you will get all assistance from government authorities regarding any help you need on your purchase. We recommend consulting with a legal expert beforehand to make sure you are fulfilling all the requirements associated with the legalities of purchasing a property in Dubai from the UK.
Hire a Reliable Real Estate Agent
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. Make sure you are working with a registered real estate agent who you can rely on in making informed choices.
Inspect Properties by Visiting Dubai
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 close proximity. So, after hiring a real estate agent, make sure to give a visit to this dream city.
Select an Established Property Developer
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 choose provides you with plenty of options and a safe investment at the same time.
Complete the Deed
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 the entire documentation ready that is required for the process.
Conclusion
So, if you are thinking whether you can buy property in Dubai from the UK or not, we can emphatically say ‘yes’ to you. Dubai welcomes expats and even if you are living in the UK, you can still purchase properties in this wonderful city. 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.