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Telegraph article- how to buy property in Dubai

Journalist: Marc Shoffman, Freelance

ended 21. May 2024

I am writing a piece for the Daily Telegraph on how UK buyers can purchase property in Dubai.

This is off the back of the recent stories about prisoners being able to buy property in Dubai but we want to outline how it can be done legitimately.

I would want to cover how the buying process works and comparing it to the process in the UK.

I need to know things like how does mortgage work in Dubai if you don't live there,  what info do you have to provide/what checks are carried out into ID verification, affordability etc, what is the typical price of a Dubai property and what is happening to prices? 

Also, how is the transaction carried out - are conveyancers required or can anyone do it?

1 responses from the Newspage community

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William Page
Head of Global Sales at IP Global
As the Head of Sales for an international property investment company, based in Dubai, I often have clients ask about UK investing in comparison. Foreigners can get mortgages, a higher down payment is required for non-residents (usually 25-35%), but rates are competitive. The process is straightforward but different. Here's a step-by-step:
Select the Property: Choose an off-plan or completed property.
Agreement: Sign a Memorandum of Understanding (MoU) with the seller.
Deposit: Pay a deposit, typically 10%.
No Objection Certificate (NOC): Apply for a NOC from the developer, ensuring no outstanding fees.
Transfer: Meet at the Dubai Land Department (DLD) to transfer ownership and pay the remaining amount..
In comparison, the UK process involves more stages like the exchange of contracts and a longer conveyancing period.