Dubai Property Restrictions

Property buyers need to be aware of all the implications of buying a property, so just like any other market, it is essential to know the restrictions on buying Dubai property.  Issues such as residence visas, and stipulations on renting an owned property are currently serious topics that potential buyers should know about before making any kind of investment.
The latest story form the Real Estate Regulatory Authority (RERA) is that buyers and current property owners need to be aware of visa issues when buying Dubai real estate.  Many property developers have been selling their properties through the promise of an automatic residency visa upon the purchase of a home.  While this will certainly entice a few investors, and overseas investors will certainly be unfamiliar with visa restrictions in the UAE, the latest report from RERA is that this automatic visa is false. 

The head of RERA has recently said that the purchase of a freehold property in Dubai does not entitle the owner to a residency visa, and that the visa status of the buyer will potentially fall into several different categories of visa status.  Buyers may fall into the category of a visit visa, but developers should not be promising a long-term visa to anyone who purchases a piece of real estate in Dubai. 

Another serious issue is with property buyers that then want to rent out their properties.  There have been many owners that are targeting the holiday market, offering short term lets on all types of properties ranging from apartments to villas.  This has led to developer Emaar, responsible for a large majority of Dubai’s freehold developments, to declare that property owners within Emaar projects are not allowed to let their properties on a short-term basis, owing to the difficulty in determining the people renting.  Many of Emaar’s projects are family communities, and this restriction is to prevent any problems with many people renting villas for short breaks across the tourist season.  At present, Emaar is the only developer to place this restriction on freehold properties; buy buyers should always read the small print when purchasing a home in Dubai.

Looking to buy or sell Dubai property? Contact us for more information and guidance.
 

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