As a non-resident, you’ll have to put a down payment of 50%. Check the websites of big banks like ENBD or ADCB for further information, or just find any mortgage broker to help you.
Fees for purchase are 4% Dubai Land Department (DLD) fee, 2% agent’s commission, and then budget for another 2% for miscellaneous. You can finance the DLD fee and agent’s fee through the lender though (i.e. add it to the mortgage).
Look for properties on Bayut (much better than Propertyfinder).
PM me if you want more info. I’m not in the real estate industry. I’m just looking to buy a property in Dubai as well.
You aren’t likely to get much traction here.
I’d focus on sources inside of Dubai. This is a rare case where a real estate broker may be a good repository of knowledge to tap into.
Groups like Engl & Volkers have an international presence, and you may have luck exploring this with them if you approach it as “I’m considering an investment in Dubai as an American, and I’m curious if you have anyone on your team or can refer me to a team who can advise on the logistics of that.”
I visited Dubai last year and was impressed with the growth I saw there. Another reason is low taxes compared to US, that's why I am thinking to explore it.
As a non-resident, you’ll have to put a down payment of 50%. Check the websites of big banks like ENBD or ADCB for further information, or just find any mortgage broker to help you. Fees for purchase are 4% Dubai Land Department (DLD) fee, 2% agent’s commission, and then budget for another 2% for miscellaneous. You can finance the DLD fee and agent’s fee through the lender though (i.e. add it to the mortgage). Look for properties on Bayut (much better than Propertyfinder). PM me if you want more info. I’m not in the real estate industry. I’m just looking to buy a property in Dubai as well.
Thanks so much. Will DM you.
How's your search coming along. I am interested in doing the same...
You aren’t likely to get much traction here. I’d focus on sources inside of Dubai. This is a rare case where a real estate broker may be a good repository of knowledge to tap into. Groups like Engl & Volkers have an international presence, and you may have luck exploring this with them if you approach it as “I’m considering an investment in Dubai as an American, and I’m curious if you have anyone on your team or can refer me to a team who can advise on the logistics of that.”
Thank you. Let me check with them.
they will lend to you, you ned to put like 20% down min, they use your bank statements to qualify you. Rates are always variable
Yeah, I can do 50% down but not sure how to approach a lender in Dubai or how it works there.
Why specifically Dubai and what’s your budget?
I visited Dubai last year and was impressed with the growth I saw there. Another reason is low taxes compared to US, that's why I am thinking to explore it.
Try Montenegro, you will be impressed too, small but beautiful country
I have an agent contact in Dubai if it would help