Dubai real estate is booming and has drawn attention from property buyers worldwide. Luckily, Dubai real estate laws for foreigners are easy to comply with. So, buying a house in Dubai as a foreigner is not that complicated. If Indian residents want to buy real estate in Dubai for investment, it is necessary to learn everything about the legal requirements for buying property in Dubai.
In this blog, “Can an Indian buy a house in Dubai?” I will tell you all about Dubai real estate laws for foreigners, Dubai Golden Visa property investment, residency benefits for property buyers in Dubai, etc., which will answer your queries satisfactorily.
Is Dubai Real Estate A Good Investment For Indian Buyers?
Dubai is indeed a fertile place for Indian investors. Given the Dubai property market potential, Indian stakeholders can get huge rental incomes, rising Dubai property prices, land in premium locations for their personal uses, etc. Be it buying luxury houses in Dubai or houses for sale in Dubai, it offers a wide range of investment options depending on the client’s budget.
Presently, Dubai real estate investment for Indians can be considered a stable investment option. Dubai property prices are increasing day by day, yielding more benefits. UAE government is also improving its infrastructure and giving lucrative deals to buy properties with ease. For example, the Dubai Golden Visa property investment enables investors to buy Dubai properties as well as get residency permissions. So, Dubai Real Estate Investment can be considered a good option for long-term investment.
Can An Indian Buy A House In Dubai?
As per the Dubai real estate laws for foreigners, Indians residing in Dubai or Indian residents can buy properties in Dubai in freehold areas only. Dubai freehold property for Indians is a specific property category that they can own outright.
What Are The Legal Requirements For An Indian To Buy A House In Dubai?
If an Indian is planning to purchase a house or property in Dubai, he/she should consider the following legal requirements for purchasing property in Dubai–
- Dubai Golden Visa Property Investment: Though Indians are not required to have a permanent Dubai residency, having a Dubai Golden Visa is a significant advantage. You can get a Golden Visa only after investing more than AED 1 million in Dubai real estate for sale.
- Property Tax In Dubai For Indians: As of now, Dubai does not charge taxes on property purchases in Dubai for Indian buyers. However, the Indian Income Tax department regulates foreign investment, including Dubai real estate ownership.
- Completing The Property Registration Process In Dubai: Indian buyers must complete Dubai’s property registration process conducted by the Dubai Land Department (DLD). The registration is necessary for the legal Dubai real estate investment for Indians.
Process For Dubai Property Ownership For Indians
Buying a house in Dubai is an easy process. All you need to have are updated documents and secured finances.
Step 1: Find A Property
First of all, you need to find a property suitable to your need in freehold areas. You can reach out to property agents in Dubai for deals. You can also find properties like luxury houses in Dubai or houses for sale in Dubai online as per your budget and preferences.
Step 2: Adequate Finance Options
Indian buyers must have adequate funds to buy properties in Dubai. If the funding shortens, there are mortgage options for Indians in Dubai as well. The only backdrop is that most Dubai banks offer lower loan-to-value ratios to Indians and require major amounts in down payment to complete the mortgage process.
Step 3: Seal The Deal
After completing the purchasing process, you need to sign a Memorandum of Understanding (MOU) with the seller and submit the application for property registration in the Dubai Land Department. After paying the registration fees, papers will be re-examined, and ownership will be transferred.
How Much Does It Cost For An Indian To Buy A House In Dubai?
The property rates in Dubai differ depending on location and type (commercial or residential). Typically, the Dubai property cost ranges from ₹91.48 lakh to ₹5.72 crore. Apart from property rates, there are hidden costs of buying property in Dubai as well. Some important hidden costs are-
- Registration fees: 4% of the property value
- Dubai Property Agent fees: up to 2% of the property value
- Property maintenance fees: vary from property to property
- Processing fees, Appraisal fees, or Additional fees on Mortagage: depends upon property evaluation
Best Locations To Buy Property In Dubai
Some of the best areas to buy property in Dubai are-
- Dubai Marina
- Palm Jumeirah
- Downtown Dubai
- Dubai Hill Estate
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Conclusion
With all the above-necessary information, this blog on can an Indian buy a house in Dubai ends here. If you have any queries or questions, drop a comment below. Don’t forget to check out more detailed blogs on Dubai rental properties on our official website.
