Regulations and purchasing processes
Buying real estate in France can be a real challenge in terms of regulations, but in Dubai things are... different, to say the least. In fact, the Emirate has set up a flexible, fast and very accessible system for easily investing in and buying a villa. We'll tell you all about it in the rest of this article. A complete and precise guide if you wish to invest in a villa in Dubai, with complete peace of mind!
Regulations and process for buying villas in Dubai
Buying a villa in Dubai is easy. First of all, if you're interested in a villa, simply download the associated brochure, especially if you're on Dubai Immo. On each program, you'll find a description of the targeted property, as well as free brochures to download.
Once you've studied the project, you have two options. The first is to keep looking, the second is to buy. You can also choose to invest in this property. In this case, simply contact us. One of our RERA-certified real estate agents will get back to you with all the information you need.
To buy your property, you need to do almost nothing except pay the first instalment (which serves as a deposit / reservation) and send a few documents, such as :
- A copy of your passport,
- An email address,
- A postal address,
- A telephone number.
Respect the payment plan
What happens next? You must respect the payment plan. These are the deadlines announced by the property developer in charge of building and selling your project. Payment plans vary from program to program. For example, you may have to pay 10% every 6 months until the payment is finalized, then 20%, then 5, then 10, etc.
It all depends on what's advertised. The money is sent to an escrow account at the DLD (Dubai Land Department), the office responsible for regulating theDubai real estate market. Once full payment has been made, the villa built and the keys collected, this money is then sent from the DLD to the property developer.
Financing your purchase with a bank
You can finance part of your property purchase with a bank. This is an increasingly common procedure in Dubai. Some banks will actually lend you money to pay a certain percentage (up to a maximum of 50%). However, several conditions must be met:
- You must be at least 21 years old
- The maximum credit period is 25 years
- You must have a monthly income of at least 3,570 euros.
Certain documents must then be provided to the bank, such as a scan of your passport and ID, a scan of your most recent salary statements (for the last 6 months), a scan of your most recent tax statement, a scan of your most recent bank statements (the last 6) and a scan of a proof of address.
What should you do if you can no longer pay your instalments?
Would you like to buy a villa in Dubai, but unfortunately can't pay your mortgage payments? There aren't many solutions. Indeed, if you fail to pay the second and third instalments, your money, originally deposited to buy your property, could be lost. So don't hesitate to turn to our teams. Dubai Immo's real estate agents will then put several things in place to find a simple, fast and inexpensive solution.
The best villa projects to discover on Dubai Immo
Interested in buying a villa in Dubai? Just contact us! The Dubai Immo teams are at your disposal and will get back to you as soon as possible with all the information you need. Exceptional programs that are sure to make you sit up and take notice:
- superb locations (Jumeirah Village Circle, Marina...),
- very attractive rates and payment plans, as well as premium services... Real estate developers have pulled out all the stops.
Interested in a project?
Feel free to browse the offers, download the brochures and contact us. It will only take a few hours for our teams to get back to you with all the information you need about your request.
