Dubai Immo answers your questions
Dubai Immo, the number one French real estate agency in Dubai, assists French-speaking investors in their real estate investments in Dubai. During the exchanges between our professional real estate agents and our clients, the same questions often come up. We have therefore decided to gather in one publication the answers to the questions our clients have.
Do I have to be a resident to buy a property in Dubai?
You don't have to be a resident of the UAE to invest in Dubai. All nationalities can invest in Dubai. If you live in France or Belgium, for example, you can invest in Dubai regardless of your nationality.
Do I need to open an account to invest in Dubai?
There is no need to open a bank account to invest. You can make payments directly from your bank account, no matter where it is located.
Is it possible to buy with a SCI or in the name of a European company?
This is not currently possible. Real estate investments must be made in your own name, or in the name of a company registered in the UAE. Purchases with French or European companies are however possible in Abu Dhabi.
Can the developer go bankrupt and stop my project?
With the current state of regulations, it is technically no longer possible for a project to come to a standstill. While this has unfortunately happened in the past, the conditions for launching a real estate project in Dubai in place in 2022 fully protect investors. Indeed, to launch a real estate program in Dubai, developers must provide almost all the funds at the launch of the project. Investors' funds are placed in an escrow account and the developer is only paid upon completion of the project.
Is there a lot of delay in real estate construction in Dubai?
Dubai's reputation in terms of construction time has been tarnished by some of its programs, there is no doubt about that. However, the new regulations put in place by the Dubai authorities encourage developers to finish construction as quickly as possible. Indeed, the developers do not touch the money invested by investors until the delivery of the property. They are therefore strongly encouraged to finish in time.
Is it possible to buy on credit?
Today, French banks do not grant financing to buy a property in Dubai. Therefore, developers offer schedules that allow you to finance your investment over a period of up to 12 years. Local banks grant loans to non-residents up to 50% of the price of the property, once it is delivered.
Who is in charge of the rental management?
Our agency can manage for you the renting, as well in short term (airbnb) as in yearly rental. For long-term rentals, the rent is paid annually by the tenants and the agency fees are paid by the tenant.
In which areas of Dubai should you invest?
It all depends on what you want to do. If you're looking for a high rental yield or a capital gain, we won't necessarily recommend the same neighborhoods. Our real estate agents are officially licensed by the RERA. They will be able to provide you with the best information according to your objectives and your budget.
Our professional real estate agents are at your disposal to answer your questions. Do not hesitate to contact them, or to call us at +33 7 56 82 82 73 (free calls and WhatsApp messages) or on our local line at +971 56 367 2667.
