Purchase process

Skover Estate offers comprehensive real estate services in Dubai, including assistance with property purchases (new developments directly from developers or ready properties on the secondary market) and subsequent resale or rental management, ensuring clients enjoy rental income or resale profits.

Our service is completely free for purchasing new developments, as the developer pays us a commission, which does not affect your purchase price. For secondary market properties, the service fee is 2% of the purchase price (if bought independently, this fee would be paid to the seller’s agent, so there’s no price difference).

Skover Estate offers in-depth knowledge of the Dubai market, and collaboration with reliable developers, ensuring a smooth buying process and finding the right property for clients. We hold a real estate license in Dubai (RERA), allowing us to deal with new developments and secondary market properties. Many brokers need this license and cannot assist with reselling or renting out purchased properties.

Dubai offers low taxes, high security, quality living, and rapid development, attracting investors worldwide and creating high demand for real estate.

Dubai is known for its rapid economic growth, low taxes, high security, and high-quality living environment. Additionally, the continuously growing population and tourism increase the demand for residential and rental properties. Over the past ten years, the number of permanent residents in Dubai has grown to 3.6 million (an annual increase of approximately 100,000 residents).

The Dubai real estate market is regulated by laws. All transactions are registered with the Dubai Land Department, protecting the interests of both buyers and sellers and ensuring transparent and secure transactions.

Property prices in Dubai start from 150,000 euros. These properties are often located in buildings about 25 minutes’ drive from Downtown. The buildings have various amenities such as a pool, gym, common areas, etc. The apartment can be rented out from 1,000 euros/month.

Payments can be made via bank transfer, credit card, cash, or cryptocurrency (e.g., BTC, ETH, USDT), offering diverse options for clients with different preferences.

An interest-free payment plan allows the remaining amount (20-40%) at the end of construction to be paid in interest-free instalments over 2-4 years after receiving the keys.

Under-construction properties can be bought without coming to Dubai. Developers offer various payment methods, including cryptocurrency. Under-construction properties are more modern and have many extras that older buildings often lack. As Dubai property prices are rising, the value of under-construction properties increases during construction. Additionally, developers offer post-handover payment plans, and the entire amount does not need to be paid upfront.

With an investment of 750,000 AED (about 185,000 euros) in real estate, a 2-year residency permit can be obtained, renewable as long as the property is owned. For investments of 2 million AED (about 500,000 euros), a Golden Visa for 10 years can be obtained, including for family members (spouse and minor children) and domestic helpers.

For those of you who are ready to invest in a completed property, the purchase process is simple. This option is perfect for clients who have the purchase amount available immediately and are eager to start using or renting out the property right away. Once a suitable property is selected, a reservation agreement is signed, and 5-10% of the purchase amount is paid. The transaction is typically completed within 30 days, or you can choose to pay the full amount without a reservation. The ownership is then registered in your name at the notary, and you can immediately start using or renting out the purchased property, reaping the benefits of your investment.

When purchasing a completed property, you need to consider a one-time land tax of 4% of the purchase amount (paid once at purchase, always paid by the buyer), a 2% broker fee of the purchase amount (in Dubai, the buyer and seller always pay the broker fee), and costs related to money transfer/deposit/notary transaction (about 1% of the purchase amount).

When buying a completed property from the secondary market, you must be physically present in Dubai.

Yes, in Dubai, citizens of any country can buy and sell real estate without restrictions. Skover Estate offers only freehold land projects, which can be purchased, sold, rented, and inherited without restrictions. There are only a few areas left in Dubai where only local Emiratis can buy and sell; we do not offer projects in those areas.

Income from the sale or rental of real estate in the United Arab Emirates is not taxed, making the investment profitable.

In Dubai, there is no income tax on property sales or rental income.

Property prices increase by about 5-15% annually, with rental yields ranging from 6-12%.

Skover Estate assists throughout the rental process, from contract signing to providing management services, including registering the property for short-term rentals.

Property prices in Dubai are on a continuous upward trend, increasing by an average of 5-15% annually, ensuring good capital growth. Additionally, rental prices in Dubai are consistently rising, increasing rental yields.

Rental yields in Dubai typically range from 6-12% annually, higher than in many other global cities.

Nearly all developers in Dubai offer interest-free installment plans during construction, allowing properties to be purchased with a 10-20% down payment and the remaining amount paid during construction (according to the payment schedule) and the final part upon handover. Some developers also offer post-handover payment plans, where the remaining amount can be paid over 2-4 years after the property’s completion without interest.

Only a one-time DLD (land tax) of 4% is paid at the property purchase. The new buyer pays the tax at sale, and there are no other ownership taxes in Dubai.

Utilities in Dubai consist of two parts: fixed utilities (maintenance fee), usually about 2-4€/m2, and consumable costs (electricity and water) according to usage. Maintenance fees cover the upkeep of the entire building and common areas.

No, a residency permit is not mandatory as it is not required for buying/selling/renting property. You can stay in Dubai for up to 90 days consecutively without a residency permit. A residency permit is an option, not a requirement.

With an investment of 750,000 AED (about 185,000 euros) in real estate, a 2-year residency permit can be obtained, renewable as long as the property is owned. For investments of 2 million AED (about 500,000 euros), a Golden Visa for 10 years can be obtained, including for family members (spouse and minor children) and domestic helpers.

Yes, property can be purchased with a bank loan under certain conditions:
– Loans can be taken up to 50% of the property’s purchase price:

• The monthly income must be at least 4,000 euros.
• It is challenging to get a loan for the first property purchase, and loans cannot be used for properties under the developer’s payment plan (you cannot combine the developer’s instalment and bank loan).
• Loans can be taken for the final instalment (usually 30%) when the property is completed and you have received the keys.

The choice of area depends on your investment goals and preferences. First, decide whether you want to rent out the property, resell it, or buy a winter home for yourself.

This is impossible, as during construction, each developer must have a certain amount in a government deposit account. This ensures that in case of developer bankruptcy/non-fulfillment, the government has enough funds to complete the development.

Skover Estate provides ongoing client support, assisting with residency permit applications, opening bank accounts, and other local regulations, as well as all property-related issues (furnishing, connecting utilities, rental, or resale).