Buying a Home in Dubai
Dubai is home to some of the most unique addresses in the world. The emirate’s prospering property market is popular with both investors and tenants. This fast-growing city is also known to be one of the most desired places to live in the world due to its reasonably priced accommodation, access to premium facilities and quality of life in terms of personal and financial safety. Another reason Dubai is a popular location to invest in is due to the high return on investment (ROI) provided from an apartment and villas for sale in Dubai. These are some of the reasons why the city attracts millions of visitors annually and is home to residents of over 200 nationalities. Those looking to invest in Dubai can see the city has much to offer when it comes to the real estate industry, especially from its world-record breaking skyscrapers.
Freehold vs Leasehold Property in Dubai
Dubai’s freehold market is divided into two categories, based on whether it is leasehold property exclusively for UAE or GCC Nationals or if it is a freehold property which can also be purchased by an expat or foreign investor. With the freehold law being passed in 2002, expats and foreign investors can buy property in Dubai in designated freehold areas. A freehold property refers to a purchase agreement where an investor owns the property and the land it stands on.
