Our Services
Acquisition process
Buying a new home to live in or as an investment property is a beautiful, but often intensive process. It involves a lot of paperwork and procedures, especially abroad. JW Real Estate Dubai will guide you through the entire purchase process, from filling out paperwork to complying with laws and regulations, notifying the proper authorities to involving a purchase agent.
Especially in a city like Dubai in the United Arab Emirates, regulations and legislation are often different from what we are used to in the Netherlands. A partner with knowledge of the local market offers a solution. JW Real Estate Dubai is that partner you can count on. Some of the things we can support you with during the purchase process.
Full ownership in Dubai
Since the year 2002, it has been possible for foreigners to purchase, sell, rent and lease real estate through a so-called freehold structure. This is possible in this structure in cooperation with developers where a foreigner becomes 100% owner upon purchase of a property and the land on which it has been or will be built. Once the registration fee is paid to the government, this is registered in the local land registry.
Important for buying property in Dubai
In addition to choosing a location that suits your needs and preferences (such as distance between home and work or certain amenities that should be within easy reach), it is important to gain some knowledge of the market. What are surrounding prices doing in the region? What are new, perhaps similar projects nearby? Before you actually invest in real estate, it is hugely important to understand the value proposition of a property so that you can make the right assessment. JW Real Estate Dubai naturally supports you in this regard.
Contracts
Also in Dubai there are certain agreements, procedures and contract forms that play an important role when buying or selling real estate. However, these may be different and differ in content from what you may be used to in the Netherlands. We will be happy to help you with this.
Beforehand
Before you decide to buy, you can discuss all options with us. For example, you may decide to purchase property for your own use, or to rent it out temporarily if you do not live or will not be living in Dubai yourself.
The intended rental income
If you are considering renting out your property in Dubai, you would do well to research the profit potential. This will allow you to assess whether the expected rental income will cover your payments, mortgage and maintenance costs. On average, investors can expect a gross return of 7% to 9% on investment properties depending on the property.
Location
We will help you research which location is most suitable for you. JW Real Estate Dubai operates in a wide range of locations, including Dubai Canal, Festival City, Palm Jumeirah, Bluewaters Island, Dubai Marina, JBR, La Mer, Dubai Creek, Dubai Hills and Mohammed Bin Rashid Al Maktoum City (MBR City), among others.
Mortgage lending in Dubai
There are several options for a mortgage in Dubai, provided you meet certain conditions.
1. You are resident of Dubai
Most banks in Dubai distinguish between employees, employers and self-employed. If you are employed and the company you work for operates in a very stable sector, you can often apply for a mortgage for the chosen property you have in mind after 3 to 6 months.
If you are self-employed, it takes a little longer; most banks usually require 6 months of bank statements before the application can be accepted. Furthermore, an overall picture of income and monthly expenses, the particular industry you work in and the number of years the business has been in existence also play a role in your application here.
1. You are resident of Dubai
Most banks in Dubai distinguish between employees, employers and self-employed. If you are employed and the company you work for operates in a very stable sector, you can often apply for a mortgage for the chosen property you have in mind after 3 to 6 months.
If you are self-employed, it takes a little longer; most banks usually require 6 months of bank statements before the application can be accepted. Furthermore, an overall picture of income and monthly expenses, the particular industry you work in and the number of years the business has been in existence also play a role in your application here.
JW Real Estate has an extensive network of different banks, advisors and financial partners who can advise and support you where necessary. This way you can be sure that you will find a solution that suits you.
