Dubai has become a favorite place for people looking to buy property because of its freehold property law in Dubai. This law allows expatriates and non-residents to own property and the land it stands on without any restrictions on nationality. Since introducing freehold laws in 2002, the city has grown into one of the world’s top real estate markets.
Benefits of Freehold Property Ownership
Buy a Freehold Property in Dubai
What Is Freehold Property in Dubai?
Freehold property ownership means that you fully own both the property and the land it stands on. It gives you complete control to live in it, rent it, sell it, or even pass it on to your family. This is different from leasehold property, where ownership returns to the original owner after a set number of years. The freehold property law in Dubai was introduced to make it easier for non-residents and foreign investors to buy property. Law No. 7 of 2006, known as the Freehold Decree, gives people the legal right to own property outright in special freehold zones across the city. Once you purchase a property, the Dubai Land Department (DLD) issues a title deed in your name, confirming you are the legal owner.
What Are the Rules for Freehold Properties in Dubai?
Here are some of the main rules for owning freehold properties.
1. Open to All Nationalities
You don’t have to be a UAE citizen to buy a freehold property. Anyone over the age of 21, from any country, can own property in Dubai.
2. Designated Freehold Areas
Foreign buyers can purchase property only in specific freehold zones such as Dubai Marina, Downtown Dubai, Business Bay, and Jumeirah Village Circle. These areas offer a mix of residential and commercial spaces.
3. Full Control of the Property
If you are the owner, you can make changes to your property, like remodeling or renting it out without asking permission, as long as local guidelines are followed.
4. Ownership Never Expires
Unlike leasehold property ownership that expire after a certain number of years, freehold ownership lasts indefinitely.
Types of Freehold Properties in Dubai
1. Residential Properties
You can find a wide variety of homes in Dubai’s freehold zones, such as apartments, villas, and townhouses. Apartments range from cozy studios to large, multi-bedroom units. Villas offer spacious living with private pools and gardens, while townhouses in gated communities provide both privacy and shared amenities.
2. Commercial Properties
Dubai’s freehold zones also offer spaces for businesses, including retail shops, office spaces, and warehouses. Retail outlets can be found in shopping malls and community centers, while office spaces are available in main business hubs like Business Bay. Warehouses are located in industrial zones, providing great options for logistics and storage.
Benefits of Freehold Property Ownership in Dubai
Buying a freehold property offers many advantages, including permanent ownership, the freedom to use your property as you like, and visa eligibility. Owners also enjoy the benefit of passing their property to family members as inheritance. Dubai’s freehold zones offer diverse property types, giving buyers and investors plenty of choices to match their preferences and budgets.
How to Buy a Freehold Property in Dubai
Here is a simple step-by-step guide to buying a freehold property in Dubai.
1. Search for a Property
Start by researching freehold zones and selecting a property that suits your needs. You can look at factors like location, price, and amenities. Working with a trusted real estate agency like Time Homes Real Estate can make the search easier.
2. Negotiate the Price
Once you find the right property, negotiate the price with the seller and sign a sales agreement to secure the deal.
3. Arrange Financing
If you need funding, you can either take a mortgage from a bank or arrange private financing.
4. Get the Title Deed
After making the payment, the Dubai Land Department will issue a title deed in your name, confirming you as the legal owner.
Why Invest in Freehold Properties in Dubai in 2024?
Dubai continues to grow as a global destination for business and tourism, making it an ideal place for property investment. The city offers modern infrastructure, tax-free income, and a transparent property market. New long-term visa options tied to property ownership make freehold properties even more attractive to investors. Dubai’s freehold market has many options for everyone, whether you are planning to buy a home or commercial space or even just considering it an investment.
FAQs
Q1. What are the benefits of buying freehold properties in Dubai?
You own the property and the land forever, giving you long-term security. You can rent it out or sell it whenever you want, and owning property may qualify you for a UAE visa. It’s also a smart investment, as property values in Dubai tend to rise over time.
Q2. What will happen after 99 years of leasehold in Dubai?
After 99 years, leasehold properties return to the original owner, usually the developer. However, freehold properties remain under the buyer’s ownership indefinitely.
Q3. How many years can you own a property in Dubai?
If you buy a freehold property, you own it permanently, with no time limit. Leasehold properties have a set term, typically 99 years.
Conclusion
Freehold property law in Dubai gives buyers and investors the freedom to own property with full rights and long-term benefits. From permanent ownership to visa eligibility, freehold properties provide great value. With a simple buying process and a range of properties to choose from, now is the perfect time to explore Dubai’s real estate market.
If you are looking to buy or invest in property, Time Homes Real Estate can help you explore some of the best freehold properties in Dubai. Our experienced team will help you find the right property and guide you through every step of the process. For more insights into Dubai’s dynamic real estate market, visit Time Homes Real Estate’s blog and stay updated on the latest trends, laws, and regulations.
