If you’re planning to invest in real estate Dubai, it’s best to know and understand the different types of properties that you can acquire. Knowing the difference, no matter how simple can help you decide on which type of property is more suitable for your intended purpose.
What types of property can foreigners acquire?
Foreigners and ex-pats may acquire properties in designated areas in Dubai. They may opt to buy a leasehold property or a freehold property Dubai.
Buying a property on a leasehold basis will allow you to obtain property rights for a fixed term, a maximum of 99 years. However, if you do not buy the property’s land, the ownership will remain with the freeholder
What are the pros and cons of buying a leasehold property?
If you are looking for flats for sale in Dubai that you can modify to suit your taste, you may need to look for another type of property since changes and improvements such as remodeling, alterations or renovation, will need written approval from the original holder of the property. Subletting is also not allowed in this case.
If you buy a property on a freehold basis, you can enjoy absolute ownership of the property, including the land it is built on. As the owner, you may sell, lease, or occupy the property.
If you are an ex-pat or foreign investor looking for a commercial property for sale in Dubai, you may investigate buying freehold properties in specific freehold areas in the emirates including Arabian Ranches, Downtown Dubai, Dubai Hills Estate, and Dubai Marina.
What are the pros and cons of buying a freehold property?
If you are looking to acquire a new property or you’re new to investing in real estate properties in Dubai, you may get in touch with one of our experts at Rocky Real Estate whose knowledge and experience can help you obtain the best return on your real estate investment. We can also help you find a residence, office space, or freehold property anywhere in Dubai.