Is VAT applicable to residential property investments?
Investment in any off plan or resale of any residential property in Dubai is EXEMPT from VAT. In other words it is TAX FREE
Can I get a residency permit with my Investment?
You can now buy a property in UAE and obtain your residency in Dubai. The new residency and visa rules help you actualize the wish of becoming a UAE resident. If you are interested in buying the perfect off-plan property in UAE and obtain your residency in Dubai, our team is ready to help you. contact our professional agents to ask your questions.
What is the legal protocol for handling changes in property size, whether it be an increase or decrease?
If the area of a property exceeds the agreed upon area in a sale contract, any increase in unit net area will not be counted towards value and the developer cannot claim payment for such an increase unless otherwise noted in the contract. Conversely, if the area of a property is less than its agreed upon size, the developer must provide compensation to the buyer for any decrease that surpasses 5% of the unit’s net area.
At what point is the transfer of the completed property recorded in the Real Estate Registry and the issuance of the title deed scheduled?
Developers in Dubai are required by law to register completed projects with the Dubai Land Department once they receive certification of completion. This process involves transferring fully paid real estate units from the original register to the Real Estate Registry and issuing title deeds or usufruct certificates to investors.
What is a post completion payment plan?
With a post-handover payment plan, buyers pay a portion of the property value during construction and a portion of the property value after the handover of the property.
What is a payment plan?
When purchasing a ready or off-plan property in Dubai, the payment terms are split into instalments which must be paid in several dates that are set in payment plan schedule within the Sale and Purchase Agreement.
what is an escrow account? what is the purpose and application?
A real estate escrow account is a bank account associated with a real estate project, where funds from property buyers and financiers are held.
The escrow account is designed to ensure the regulation of building and construction processes for units sold on the map (Off Plan), protecting the rights of investors. The provisions of the law are applicable to all real estate developers in Dubai who are selling real estates on projects within the Emirate of Dubai, and will receive payments from buyers or financiers.
How can off-plan property purchase be registered in Dubai?
Off-plan property purchase in Dubai can be registered by following the procedures set by the Dubai Land Department (DLD) Initial Sale Registration (Oqood). The process starts with the signing of a sales agreement between the developer and buyer, which is then registered with the DLD through DLD online portal by Developer. Once the property is completed, another agreement is signed to transfer ownership from the developer to the buyer. This agreement is also registered with the DLD. During this process, fees equal to 4% of the property value and administration fees are paid to complete the registration, and all necessary documents must be submitted online to ensure compliance with government regulations. avoid any legal issues in the future.
What are DLD registration fees?
Dubai Land Department (DLD) Fees are 4% of the purchase price. this fee is applicable to all transaction i.e. re-sale or Off plan.
Who is Dubai Land Department (DLD) ?
Dubai Land Department (DLD) is a government body providing a range of real estate services to the investors. The most prominent of these services are documenting of property sales and purchases, issuing real estate ownership, organising and promoting investments, and spreading knowledge and culture pertaining to a well-trained and qualified national cadre in the real estate sector. The department strives to provide the best services to its clients and to facilitate customers’ transactions, a culture inspired by the competitive and excellence, achieving sustainable urban development, and adopting the comprehensive concept of integrated quality of life, in line with the Dubai 2040 | Urban Master Plan & Sustainable Development and the National Strategy for Wellbeing 2031.
Do I need a down payment to buy a property in Dubai?
Yes, typically, a down payment is required to buy a property in Dubai. According to the Dubai Land Department, it is required for home buyers to pay at least 25% of the property value in cash as a down payment. Some developers may set higher or lower requirements investors. It is important to understand all necessary requirements and costs before buying any property in Dubai. Other costs associated with purchasing a property may include transfer fees, mortgage registration fees, and other legal costs.
How can I view these projects?
Please log your interest with us and we will schedule a visit for you to meet the Developer and show apartment if available.
What is an off plan property?
A property that is yet to be built or in early stages of construction and purchased from the developer directly is called, Off plan. Purchasers of off plan properties mainly make their choices based on brochures, marketing material and in some cases show properties.
What are the projects presented on this platform?
Properties presented on this platform are the projects where the Developers have newly launched or still hold inventory, hence you have the best opportunity to make an investment in the early stages and great terms.
We also have listings of our secondary market.
Why do I need a real estate agent?
A real estate agent can offer valuable insights into the housing market and community that you may not know about. They have access to information on recent home sales, pricing trends, zoning changes, and other pertinent information that can affect your decision to buy or sell a home. A good agent can also provide guidance on how to maximize the value of your property if you are selling or help you find a suitable property if you are buying. Additionally, they can handle all the complexities of transactions such as negotiating offers and contracts, filling out paperwork, and dealing with legal issues that may arise. Working with an experienced agent can make the process of buying or selling real estate more efficient and less stressful.
Why should I choose Jasper Real Estate as my agent?
Jasper Real Estate should be your choice for a real estate agent because of their market knowledge, accommodating customer service, and commitment to getting the best deal possible. Jasper Real Estate is staffed by experienced agents who have detailed knowledge of the local market and can help you narrow down potential properties quickly. Furthermore, they provide personalized customer service that makes it easier than ever to find the perfect property without sacrificing time or money. Finally, Jasper Real Estate strives to get clients the best deal possible by negotiating on their behalf. All of these factors make Jasper Real Estate an ideal real estate agent for anyone looking to buy or sell a property in the area.
Furthermore, if English is not your primary language, we have agents who speak multiple languages and will be able to assist you with understanding the details of the deal. Our goal is to make sure you have a pleasant experience and achieve your desired outcome.
Click these links to know more about us and our services.
Is Jasper Real Estate a trusted agent of Developers?
Jasper Real Estate is a highly trusted and respected agency of developers, known for its experience in the real estate market. The agency works with developers to demonstrate their projects to both potential investors, as well as potential property buyers. Jasper Real Estate is recognized by developers as a reliable partner that follows ethical practices in all of its dealings. With years of experience in the industry, Jasper can be trusted to make good decisions on behalf of both developers and investors alike.
Do I pay commission on the Purchases of an off-plan property to Jasper Real Estate?
When buying an off-plan property with Jasper Real Estate, there is no commission to pay. Off-plan properties often come with excellent incentives and discounts that can be capitalized on by buyers. At Jasper Real Estate, we take pride in providing exceptional support and guidance throughout the process of purchasing an off-plan property. Whether it’s helping to obtain a financing solution or assisting with the legal paperwork, our experienced real estate professionals are invested in giving buyers peace of mind and complete satisfaction.
If you wish however, to buy a property from our listings from secondary market you will need to pay the commission as per the market.
What are the advantages of investing in Real Estate in Dubai?
– The presence of well-established infrastructure and favorable laws makes it easy to do business in the city.
– There is no personal income tax in Dubai, making investments there more attractive than elsewhere.
– Many real estate projects offer a payment plan, making them more affordable for investors.
– Real estate prices are significantly lower than in other global cities, making investments profitable both now and in the future.
– Economic growth rate is expected to remain stable and steady in the long term due to high government budgets and growing industries.
– Low taxes on rental returns make it increasingly attractive for landlords to invest in Real Estate.
– Favourable weather conditions for tourists, resulting in increasing demand for short-term rentals.
– Obtaining real estate property carries a low requirement for entry compared to other international financial markets such as stock trading.
– High rental yields and secured investments.
– Tax-friendly jurisdiction with globally competitive banking system.
– Strategic geographic location that serves as a gateway to over 2 billion people in the Middle East, Africa and Asia.
– Increasingly strong investment legislation, low transaction costs and transparent legal process.
