Frequently Asked Questions
Selling
To sell your property in UAE, you will need to provide the original title deed, your passport copy and Emirates ID, and a valid power of attorney if required.
The time it takes to sell a property in UAE can vary based on the location, condition of the property, and current market conditions. On average, it can take anywhere from a few weeks to several months to sell a property.
Yes, you can sell your property in UAE even if you are not in the country. However, you will need to appoint a legal representative who can act on your behalf and handle the sale process.
Pricing your property for sale in UAE can be a tricky process as it depends on several factors such as the location, size, condition, and current market conditions. It is best to consult with a professional real estate agent or appraiser to determine the fair market value of your property.
Yes, you will be required to pay a 2% transfer fee on the sale of your property in UAE. Additionally, if you are a non-resident seller, you may be subject to a 5% withholding tax on the sale proceeds.
Yes, you can sell your property in UAE even if it has an outstanding mortgage. However, you will need to obtain a no-objection certificate from the bank or financial institution that holds the mortgage.
If your property does not sell, you may need to reconsider your pricing strategy or make improvements to the property to make it more attractive to potential buyers. It is important to work closely with a professional real estate agent to understand the market conditions and adjust your strategy accordingly.
While it is possible to sell your property in UAE without a real estate agent, it is not recommended. A professional agent can provide valuable expertise and guidance throughout the entire process, from pricing to marketing to closing the sale. They can also help you navigate any legal or regulatory requirements and ensure that your interests are protected.
Renting FAQ:
The rental price for an apartment in the UAE varies depending on the location, size, and type of the property. On average, a one-bedroom apartment can cost around AED 60,000 to AED 120,000 per year, while a two-bedroom apartment can cost around AED 100,000 to AED 200,000 per year.
Yes, it is necessary to sign a tenancy contract between the landlord and tenant. The contract must include the rental period, rental amount, security deposit, and other terms and conditions agreed upon by both parties.
The security deposit for renting a property in the UAE is usually equivalent to one month’s rent. This deposit is refundable at the end of the tenancy period, provided that there is no damage to the property.
According to UAE law, the landlord can increase the rent only once a year, and the increase must not exceed 5% of the current rent.
The landlord is responsible for major maintenance and repairs, such as structural damage, plumbing, and electrical issues. The tenant is responsible for minor repairs, such as changing light bulbs and repairing minor damages caused by them.
If the tenant wishes to terminate the contract early, they must provide a written notice to the landlord, stating the reason for early termination. The tenant may have to pay a penalty fee, equivalent to a certain number of months’ rent, as specified in the contract.
The landlord can only evict the tenant before the end of the tenancy period if there is a breach of the contract, such as non-payment of rent, subletting without permission, or causing damage to the property. The eviction process must be done legally through the Dubai Rental Dispute Settlement Centre.
While it is not necessary to have a real estate agent for renting a property, it can be helpful to have one to guide you through the process, especially if you are new to the UAE. A reputable real estate agent can help you find the right property that fits your needs and budget, negotiate the terms and conditions, and handle the paperwork.