Frequently Asked Questions

Dubai • Abu Dhabi • Egypt London• Qatar • Oman• Saudia Arabia • Spain

Question about selling

Yes, a home can depreciate in value. However, under the UAE’s corporate tax law, property investors can claim a 4% annual depreciation deduction on investment properties held at fair value. This deduction is capped at the lower of 4% of the original cost or the written-down value of the property. It’s important to note that this applies to investment properties and not to personal residences

Older homes in Dubai can offer better value for money, especially in prime locations. They are generally more affordable compared to newly developed ones and can offer spacious layouts and established communities. However, they may require modern updates and renovations to meet current standards.

A real estate broker in Dubai is a licensed professional who has typically worked as a real estate agent for several years. To become a broker, they must pass additional exams and meet the experience and education requirements set by the Dubai Land Department (DLD). Brokers can legally establish a real estate company, employ and supervise other real estate agents, and handle more complex real estate transactions

In Dubai, there is no annual property tax on residential properties. Property owners are not subject to recurring taxes once they’ve paid the one-time transfer fee. However, tenants pay a 5% municipality fee based on their rental value.

The mortgage pre-approval process in Dubai typically takes up to 5 working days. Once pre-approved, the entire mortgage approval process, including documentation and underwriting, can take between 2 to 6 weeks, depending on the lender and the complexity of the application.

Question about renting

Yes, a home can depreciate in value. In Dubai, investment properties can claim a 4% annual depreciation deduction under UAE corporate tax law, but this applies only to investment properties, not personal residences. Market conditions, location, and property maintenance also affect property value.
Older homes in Dubai can offer better value for money, particularly in prime locations. They are often more affordable than new developments and may have larger layouts and established communities. However, they might require renovations or upgrades to meet modern standards.
A real estate broker in Dubai is a licensed professional with more experience than a standard agent. Brokers must pass additional exams and meet requirements set by the Dubai Land Department. They can run real estate companies, supervise agents, and manage complex property transactions.
Dubai does not impose annual property taxes on residential properties. Owners only pay a one-time property transfer fee. Tenants, however, pay a 5% municipality fee based on the rental value. Insurance payments depend on the type of coverage and can be managed directly by the owner if desired.
Mortgage pre-approval usually takes up to 5 working days. Full mortgage approval, including documentation and underwriting, generally takes 2 to 6 weeks, depending on the lender and the complexity of the application

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