Dubai’s thriving real estate market has been built on a clear and transparent regulatory framework that protects all parties involved. Central to this, and to every property transaction in Dubai, lies real estate contracts. Whether you're listing a villa for sale, buying off-plan, or signing a lease, understanding the types of real estate contracts used in Dubai is essential.
In recent years, the United Arab Emirates has taken significant steps to align its financial practices with global standards. The real estate market, a key part of the UAE’s economy, was scrutinised due to its potential vulnerability to money laundering activities. As a result, strict measures have been introduced to ensure transparency and accountability in every property transaction.
Dubai real estate is known for its well-regulated and structured approach, ensuring transparency and compliance for all stakeholders. However, navigating the legalities and required documentation can be overwhelming, particularly for first-time buyers and investors. One such crucial document is the affection plan.
In Dubai’s thriving real estate market, investors often look for strategies to achieve high investment returns. One popular investment strategy is buying and flipping homes. With high demand for upgraded properties, investors can flip houses for sale to capitalize on rising property values and increased interest from both local and international buyers.
When selling a property in Dubai, the real estate agency commission is one of the largest costs you will likely pay. A real estate agent usually charges 2% of the property’s sales price as a commission, prompting some to question whether selling your house without an agent is possible.
For landlords, finding the right tenants is crucial. Not only is the tenant responsible for paying the rent, but they will also be crucial to keeping your property in good condition. All landlords hope to find a tenant who is cooperative and responsible - and vice versa, to ensure the relationship between both parties remains smooth throughout the rental contract.
Dubai has undergone significant legal reforms recently, reflecting its commitment to being a modern, globally inclusive city. One topic that still causes confusion is cohabitation laws for Dubai residents. Historically, unmarried couples living together in the UAE could face legal repercussions. However, this changed in 2020 when laws were changed to allow consenting adults to share accommodation without marriage.
Contact
Engel & Völkers Dubai
Golden Mile Galleria 2, Office 21, Mezzanine Floor
Palm Jumeirah, PO Box 17722, Dubai, UAE
Tel: +971 4 4223500