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Can Indian Citizens Buy Property In Dubai?

Last Updated: 15th April 2022

 

Can Indian Citizens Buy Property In Dubai?

Yes, Indian citizens can buy property in Dubai.
We get asked this question by Indian citizens interested in buying property in Dubai.

In 2006 the government of Dubai promulgated law no.7 on Real Property Registration in the Emirate of Dubai stipulated that non-UAE nationals have the option to claim freehold property, situated in any territory in the Emirate of Dubai per Article 4 of the Property Ownership Law

Foreign, non-resident property investments (including property investments by Indian citizens in Dubai) have been legal in the UAE (which contains seven emirates: Dubai, Abu Dhabi, Sharjah, Al Ain, Fujairah, Ajman, and Ras Al Khaimah) for some time now.
The government of Dubai does restrict the investment by Indian citizens buying property in Dubai to special types of properties called ‘Freehold properties’.

However, Indian citizens cannot buy properties that are labeled as non-freehold properties as those privileges are extended only to UAE nationals.

Most freehold properties in Dubai are built and developed by big-name groups like Emmar, Damac, etc.; These properties are sold to Indian citizens buying Dubai properties through real estate agencies in Dubai that have exclusive contracts with the developer.

Buying Real-estate In Dubai is risky; It often causes a lot of anxiety among Indian citizens looking to invest in properties in Dubai. Luckily the emirate hosts a range of professional real estate agencies with years of experience in Dubai’s properties markets.
Soliciting their services brings down the risk of buying property in a foreign country. They are licensed by the government of Dubai to assist in the sale of properties.

 

Yes, Indian citizens can buy property in Dubai.
We get asked this question by Indian citizens interested in buying property in Dubai.

In 2006 the government of Dubai promulgated law no.7 on Real Property Registration in the Emirate of Dubai stipulated that non-UAE nationals have the option to claim freehold property, situated in any territory in the Emirate of Dubai per Article 4 of the Property Ownership Law

Foreign, non-resident property investments (including property investments by Indian citizens in Dubai) have been legal in the UAE (which contains seven emirates: Dubai, Abu Dhabi, Sharjah, Al Ain, Fujairah, Ajman, and Ras Al Khaimah) for some time now.
The government of Dubai does restrict the investment by Indian citizens buying property in Dubai to special types of properties called ‘Freehold properties’.

However, Indian citizens cannot buy properties that are labeled as non-freehold properties as those privileges are extended only to UAE nationals.

Most freehold properties in Dubai are built and developed by big-name groups like Emmar, Damac, etc.; These properties are sold to Indian citizens buying Dubai properties through real estate agencies in Dubai that have exclusive contracts with the developer.

Buying Real-estate In Dubai is risky; It often causes a lot of anxiety among Indian citizens looking to invest in properties in Dubai. Luckily the emirate hosts a range of professional real estate agencies with years of experience in Dubai’s properties markets.
Soliciting their services brings down the risk of buying property in a foreign country. They are licensed by the government of Dubai to assist in the sale of properties.

Table of Content

What kind of properties can Indian citizens buy in Dubai?

Can Indian Citizens Buy Property In Dubai

Indian citizens can buy three different types of freehold properties in Dubai :

  1. Offplan Properties: An off-plan property is a property that is still under construction that can be purchased directly from the developer through a real estate agency. The Buyers usually pay a 10-20% down payment; the rest is paid through a flexible payment plan . Indian citizens buying effects in Dubai usually enlist the services of an experienced real estate agency in Dubai with exclusive contracts with developers to negotiate payment plans and prices on their behalf. The following documents are needed if Indian citizens want to buy off-plan property in Dubai :
    1. A reservation structure: This document contains the details of the property agreement like individual information, payment plans, etc.
    2. Passport Copy
    The developer may add more documents to this list; the entire ordeal can become cumbersome and time-consuming; hence it is best to seek the expertise of real estate agents in Dubai.


  2. Ready Properties: Ready Properties are properties that have completed construction and are ready to have people move into them. These are often more expensive than off-plan properties however they are also less risky as the construction has been completed. These deals are usually brokered with the help of real estate agencies in Dubai as they often have exclusive listings at lower prices. Most Indian citizens Buy Ready properties in Dubai.


  3. Secondary properties: Secondary properties are pre-owned properties that are being sold directly by the owner. These properties are listed with a real estate agency and the owners of the property themselves are Indian citizens who buy property in Dubai. Another way of facilitating transactions is through switch deals. A switch deal is where two property owners may exchange their properties. Switch Deals are engineered by real estate agencies as they are often complicated.


How can Indian citizens buy property in Dubai?

Top Real Estate Agency In Dubai
  1. property scouting : The first step is to understand what kind of property interests you. Dubai contains a wide range of properties. Once this is understood, most Indian citizens looking to buy properties in Dubai are advised to look at popular residential properties that match their wants, some popular projects to look out for are :
    1. Peninsula by Select Group
    2. Six Senses by Select Group
    3. Safa One by Damac
    4. Damac Lagoons By Damac

    This process is usually complex and as it often happens most Indian citizens who end up buying property usually enlist the help of professionals to help them through this process.


  2. Look up listings online : The most obvious way to find properties in Dubai is to look for them online. A few websites work best with listings in the UAE for Foreign Nationals like Indian citizens looking to buy property in Dubai; These are :
    1. Propertyfinder.com
    2. Dubbizzle
    This method works for ready-made properties and not off-plan properties.


  3. Consult with an Agency : Real estate agencies are the best bet for any Indian citizen looking to buy properties in Dubai; because agencies have a long history of dealing with developers and they can act on the buyer's behalf if the buyer resides outside the UAE. Real estate agencies can have exclusive partnerships with property developers; which ensures cheaper prices and more flexible payment plans. If you are an Indian citizen looking to buy properties in Dubai, this is by far your best bet.

How can Indian citizens buy property in Dubai?

yes, it is legal according to Indian Law for Indian citizens to buy property in Dubai. According to the Foreign Exchange Management Act of 1999, it is legal for residents and non-residents to buy property in Dubai.

There are some restrictions on resident Indian citizens buying property in Dubai as they will need to declare their purchase with the income tax department of the Indian government.

An easy workaround to this problem is to solicit the services of an experienced real estate agency that will handle all the paperwork related to buying property in Dubai as an Indian citizen.

Can Indian Citizens get a mortgage if they buy property in Dubai?

Yes, Indian Citizens Buying property in Dubai and Indian Expatriates Buying Property In Dubai are eligible to get a mortgage. There are a few criteria to be met by Indian citizens trying to buy property in Dubai to procure a mortgage.
The Criteria are as follows:

  1. If the person is an Indian citizen looking to buy property in Dubai and not a UAE Resident: They must have at least AED 15000 as Salary after-tax and must have stayed employed in their place of work for over a year. If they are self-employed, they must be successfully self-employed for over two years.
    They must deposit 50% to 75% of the property value as a downpayment.
  2. If the person is an Indian citizen looking to buy property in Dubai and is a UAE Resident: They must have at least AED 10000 as Salary and must have stayed employed in their place of work for over a year.
    If they are self-employed, they must be successfully self-employed for over two years. They must deposit 20% of the property value as a downpayment.

So in conclusion Indian citizens can indeed purchase properties in Dubai. Property sales are time-consuming and expensive. We advise that any Indian citizen looking to buy a property in Dubai should enlist the services of a real estate agency.

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