5 things Dubai property buyers should know

It’s critical to work with a professional and licensed broker when purchasing a home, an expert says



by

Waheed Abbas

Published: Mon 1 Aug 2022, 4:04 PM

Buying a home in Dubai is a dream that many expatriates cherish – both those who live and work here and who are abroad, thanks to top-notch quality of life services that city provides to its residents.

HP Aengaar, CEO at Asteco, says it’s critical to work with a professional and licensed broker when purchasing a home.

Due diligence: Conduct research on the location, developer, quality, sizes, prices, payment plans, construction status, and track record of completion if purchasing an off-plan property

Work with a professional agent: Make sure the real estate agent is licensed and registered with the Real Estate Regulatory Authority (Rera). Inquire about their broker card and whether they have a Rera certificate.

Understand the buying process: When purchasing a home, it is critical to understand the legal procedures, timelines, and fees involved. The broker will walk you through every step of the process, from the negotiation to the paperwork and final handover.

Reason for buying: A property purchased for self-use is not the same as one purchased for investment purposes like rent out. So, it is highly recommended to understand main reason behind the decision to purchase the property. If you are purchasing Dubai properties for investment purposes, make sure you understand the market price and the rental yield you can expect.

-waheedabbas@khaleejtimes.com

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