All about Buying a Villa in Dubai
Dubai with its extravagant lifestyle stays on top of the list of the most desirable addresses to settle in. One of the major reasons for this is that it welcomes expats like no other with reasonable accommodation options and premium facilities. Besides the unmatched nightlife, tourist attractions and resorts, the facilities in communities make it one of the most sought-after places to live and work in. The economy is booming at a steady rate and similarly, the Dubai real estate market is known to reap valuable returns. The ROI contributed through a villa for sale in Dubai attracts investors beyond geographical boundaries. Accommodating more than 200 nationalities, the Dubai real estate market has a lot to offer to Emiratis, expats and international investors.
Freehold vs. Leasehold Property in Dubai
Foreign investors looking to buy a house in Dubai must first understand the difference between leasehold and freehold ownership. Dubai is the first emirate in the UAE to introduce a provision that allows foreign investors and expats to own a property in specific communities. In 2001, the Government of Dubai announced provisions after which expats are allowed a 99-year lease of properties. In some cases, the lease period may be lesser depending on the terms of the contract. Later on, in the year 2002, the Freehold Decree was introduced where expats and foreign investors can purchase and own land in Dubai.
Buying a freehold property gives full ownership of the land and property to the buyer. In such cases, the freehold buyer is the landowner granted with a title deed for the property. Some popular locations in Dubai offering freehold villas in Dubai include The Villa, Arabian Ranches and Reem. Those looking to buy villas in Dubai in exclusive neighbourhoods can consider Emirates Hills or Jumeirah Islands. Other areas with relatively affordable options are The Sustainable City, The Springs, The Meadows and The Lakes.
Leasehold properties allow foreign nationals ownership of the property for a fixed term of 10 to 99 years. The buyer has all the rights for the number of years agreed and once the period is over, rights are reverted to the freeholder. However, the contract can be renewed on expiry. It is also important to note that such properties are leased only from a UAE or GCC National landlord. The leaseholder has limited liability when it comes to repair and maintenance. The freeholder is usually bound to pay for the repairs especially if it affects the structure. This would also mean that the leaseholder will require special, written permission from the freeholder in case of remodelling or renovation of the property. Popular communities that offer leasehold villas for sale in Dubai include Dubai Silicon Oasis and Green Community. It is also possible to lease a property in freehold areas designated for GCC and UAE Nationals such as Deira.
Types of Villas in Dubai
Buying houses in Dubai for sale opens up a range of options in terms of unit types, price ranges and space covered. It also depends on the area or community you choose as the architectural style and amenities would vary. For instance, properties closer to the waterfront/coast of Dubai are more likely to have glass-work for maximised views.
One can choose from a range of 2-bed to 6-bedroom luxury villas for sale in Dubai. A standard 2-bedroom villa covers around 1,400 sq.ft to 1,700 sq.ft. of living space while some projects like Arabian Ranches 1 and Arabian Ranches 2 have more expansive options where the homes offer over 18,000 sq.ft of built-up area.
Some may find a range of duplex or triplex units with multiple balconies or a spacious roof-top terrace. Mostly, properties that boast post-modern architecture boast private lawns, a dedicated parking area, space for laundry and storage and a separate maid’s room. Residents in most villa communities have access to a range of communal facilities including playgrounds, parks, clubhouses, fitness facilities and much more.
Besides, the Dubai property market is at a boom with several off-plan projects. Off-plan property units are generally sold directly from the developer even before the construction work is completed. These are valuable options for foreign investors looking for houses for sale in Dubai in affordable ranges. Akoya Oxygen is one of the most popular options with off-plan villas. Other projects include Golf Place in Dubai Hills Estate and Emaar South by Dubai’s leading real estate developer Emaar Properties.
Popular Areas to Buy Villas in Dubai
Waterfront areas like Palm Jumeirah offer an exclusive selection of luxury units some of which are also fully furnished and ready to move-in. If you are looking for fully furnished and ready villas for sale in Dubai you can explore Al Barari, Jumeirah Golf Estates and the fast-paced Dubai Marina community with podium waterfront villas. For more affordably priced options interested buyers can view the units in The Villa, Jumeirah Village Triangle (JVT) and Dubailand.
How to Buy a Villa in Dubai?
The idea of investing in a villa in Dubai for sale might seem overwhelming at first especially to foreign investors and those new to Dubai. It is important to understand the legal requirements before making the big move. Bayut makes it feasible to search for the specific property type according to your requirements. So, the first step is to look for a suitable house for sale in Dubai using the filters and labels on the website. Once you have made up your mind, selected a villa and spoken to the seller, you’d be ready to sign the agreement with the seller through an MOU (Memorandum of Understanding). The agreement is signed by both parties and once that is done, it is time for the initial deposit, generally 5% to 25% of the value of your house. Next, a No Objection Certificate (NOC) is issued by the developer after which DLD transfers the property ownership.