New Off-Plan Properties for Sale in Dubai & The UAE

Documents for property reservation:

• All buyers' passport copies
• E-mail
• Phone number
• Address and postal code

Additional documents:

• Bank statement
• Tax return
• A completed KYC form

Can I buy property without leaving my country?

Yes, it is possible to buy an apartment and process papers online without flying to Dubai. Together with the developer, we check and make all the documents ready, prepare invoices and send documents for physical signature of both parties.

Payment methods:

• A swift transfer to the developer's escrow account
• UAE bank account receipt
• Cash payment
• Cryptocurrency

For new buildings, developers provide interest-free installment plans with a minimum down payment of 10%.

The payment is divided into 2 parts: the first is paid in installments during construction and ranges from 40% to 70% and the balance is paid at the time of delivery. There is also a payment plan, when the balance is paid within 2-5 years after the delivery.

Example of a PAYMENT PLAN (TOTAL 300,000 USD):

10% - 30,000 USD - when signing a contract
10% - 3 months after signing the contract
10% - 15 months after signing
10% - 24 months after signing
10% - 33 months after signing
10% - on delivery date
10% - 6 months after the delivery
10% - 12 months after the delivery
10% - 18 months after the delivery
10% - 24 months after the delivery

You can become a resident of Dubai by purchasing a property at a price of 205,000 USD.

Residence is issued for both the owner of the apartment and their family members.

After applying for and obtaining a resident visa, the owner and family members will receive an internal document - Emirates ID - and will be able to open a bank account, get an internal driver's license and insurance. Banking services in the form of mortgages, consumer and car loans are also available for residents of Dubai.

Housing and property maintenance services and the connection of the apartment to water supply and electricity network are paid by the tenant or the owner for his own accommodation. Monthly payments range from 150 - 300 USD depending on the type of property.

To connect water and electricity, you need to pay a deposit of 340 USD to the Dubai Electricity & Water Authority (DEWA).

Annual service (Service Charge) which includes concierge service, security, building cleaning, swimming pool and gym, cost from 30 to 80 USD per m² on average. It is paid by the owner of the apartment.

If the project is under construction, it is possible to resell the property after covering at least 30% of its cost. After selling the property with an increase in price, the owner does not pay any tax on the price difference - there is no income tax in the UAE.

The agency's commission is paid by the buyer.

Documents required for resale:

• NOC Letter from the developer - a letter stating that the owner has no debts to the developer. The document is prepared and processed by the developer, the fee is approximately 1,500 USD.
• All the owners' and buyers' passport copies.
• The sales and purchase agreement with seller's and buyer's details and information on property, as well as any additional terms and conditions. The agreement is prepared by the agency.

The cost of an apartment is primarily influenced by the district and its size. As a rule, the most popular properties start from 250,000 - 300,000 USD and above in the primary market.

For example, percentage of return on investment from a studio worth 300,000 USD can be less than that from a townhouse worth 650,000 USD due to low annual service fees and high demand for suburban real estate. However, the studio is easier to resell.

The average rental returns are from 5% to 10% per annum in dollars. It all depends on the chosen rental strategy: short-term - daily, medium-term - monthly or long-term lease starting from 1 year.

Also, the profitability from the increase in price is calculated depending on the point of entry to the project and the projected exit point, payment terms, price per m², current market supply and demand volume.

The average weighted estimate of the increase in price for projects under construction is from 10% to 20% of the total cost. The average weighted estimate of the return on investment and exiting the projects at the construction stage is from 20% to 30%.