What is the difference between freehold and leasehold property in Dubai?
Freehold properties are those where the ownership is transferred to the buyer and the property owner owns the property for an unknown period, On the other hand, leasehold properties are such properties where the property owner transfers the ownership of the property on a lease basis and the property owner has the legal possession of the property for 99 years at the most.
Are foreigners allowed to own freehold property in Dubai?
Yes, generally foreign nationals are free to own freehold properties in Dubai with no limitation.
What kind of properties are there in the freehold system in Dubai?
It is absolutely possible to buy any type of property, such as apartments, villas, offices, or stores in Dubai, choosing the freehold form of ownership.
Can I build or alter my leasehold property in Dubai?
With the permission of the landlord or the landlord’s agent, you may renovate or alter your leasehold property in Dubai.
How can I buy a freehold property in Dubai?
Yes, you can buy a freehold property in Dubai and its process is similar to many other property markets. What you need to do first is identify the property and then select a suitable agent for negotiation. After that, you can make an offer and sign an agreement.
What kind of Property taxes are on freehold and leasehold properties in Dubai?
There are no property taxes on freehold properties in Dubai but on leasehold properties, there are taxes through the implementation of the rates based on the emirates and type of property.
Can I sell my leasehold property in Dubai?
In fact, you can sell the leasehold property in Dubai, but what this means is that the new owner of the property can only own it until the remaining period of the lease.
Are the procedures for obtaining a mortgage for freehold and leasehold properties different in Dubai UAE?
The mortgage process in Dubai does not differ significantly between freehold and leasehold properties; however, it is possible that more attention is paid to granting credit-connected orders of leasehold property than freehold property.
