Dubai Guide: Property
Buying property isn't easy anywhere, but it gets even more complicated if you have to deal with an unknown property market and legal restrictions of a foreign country. Read our property guide to get a good start – and to avoid mistakes you might later regret.
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Introduction
The Dubai property market
The Dubai property market is known for its luxury residences, developments and business centres. Prices increased drastically for two years, but in 2008 property prices crashed. They have been volatile ever since, but the market is expected to even out in the future.
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Purchase process
Contracts, taxes and registrations
Purchasing property in Dubai is a relatively straightforward process. Property development companies will readily sell you property without an agent. However, you should always find an agent to help you with the purchase process because laws and regulations may change quickly.
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Mortgages
Financing your Dubai property
To pay for your Dubai property, it is best to set up a bank account in Dubai either through a native bank or a foreign branch. You can then exchange your currency into dirhams for major property payments. For mortgage payments, you can set up direct debit payments.
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