Latest News: Shaikh Mohammad amends Dubai property Registration Law
The amendments aim to protect real estate investors and developers… more details
The Government of Dubai has consolidated the property laws and regulations with the aim of ensuring that property investors are assured the highest possible service and integrity standards from real estate agents, brokers and property developers transacting business in Dubai. Putting a property up for sale in Dubai has now acquired ease and convenience. The laws are clearly outlined for UAE and GCC nationals as well as non-GCC citizens. There is also a wide selection of agents and internet sites available to buyers and sellers to help sell and advertise Dubai freehold property.
Property Buy/Sell Laws.
- In order to purchase property in Dubai the buyer must be over 21 years of age.
- There are slightly different sets of protocol depending on whether one purchases property from a developer, called an “off-plan” purchase, or purchases property from a private seller, called a “resale” purchase.
- It should be noted that often times, a seller will require that an expat has been “pre-approved for home financing” before signing the sales contract.
Property Rental Laws.
- A landlord is then not allowed to rent the property out for two years in the case of a residential property and three years for a non-residential property.
- An owner can seek to evict a tenant before the tenancy’s expiry if the tenant fails to pay the rent within 30 days, unless otherwise agreed after the 90-day rent increase notice has been given.
- Tenants seeking redress can file a case against the landlord at the tribunal at the rental dispute centre, Mr bin Hammad said.