FAQ’s
What are the main categories of properties available for sale in Dubai?
Properties in Dubai are generally classified as either off-plan (under construction, purchased directly from a developer) or ready properties (completed, available for immediate handover). Both categories offer unique investment and living opportunities. At Newizz Realty, we provide tailored consultations to help you determine which property type best meets your long-term financial and lifestyle requirements.
What are the key differences between off-plan and ready property investments?
Off-Plan Properties:
Pros: High potential for capital appreciation, benefit from lower initial cost, flexibility with developer payment plans.
Cons: Waiting period until completion, exposure to market changes during construction, requires managing regular installment payments.
Ready Properties:
Pros: Immediate occupancy, instant rental income generation, ability to inspect the finished product before purchase.
Cons: Higher upfront costs, potentially requiring immediate renovation or updates, generally lower capital appreciation compared to pre-launch off-plan.
What is the process for buying an off-plan property in Dubai?
The off-plan buying process, streamlined by Newizz Realty, involves several key stages:
Selection: Choose your area, property type, and review the developer’s payment plan.
Reservation: Sign a booking form and pay a reservation fee to secure the unit.
Initial Payment: Complete your first installment and pay the Dubai Land Department (DLD) registration fees.
SPA & Oqood: Sign the Sales & Purchase Agreement (SPA) and receive your initial contract (Oqood) from the DLD.
Installments: Continue paying installments according to the developer’s schedule.
Completion: Conduct a final inspection, receive the handover, and obtain the full Title Deed.
What are the steps to buy a ready property?
Purchasing a ready property involves a swift transition:
Pre-Approval: If mortgaging, secure pre-approval from a bank.
Viewings & Offer: Arrange viewings with your Newizz Realty agent, who will negotiate the best price and terms with the seller.
MOU: Sign the Memorandum of Understanding (MOU) and pay the deposit.
Contract: Sign the digital contract (Form F) via RERA to officially secure the sale.
NOC & Transfer: Obtain a No Objection Certificate (NOC) from the developer/management, and finalize the transfer of ownership at the Trustee Office with our team’s assistance.
How can I ensure that I find the property that suits my investment or lifestyle needs?
Newizz Realty starts with a detailed consultation to align your goals with the market reality. We encourage you to define:
Financial Scope: What is your maximum budget, and will you be a cash buyer or require financing?
Purpose: Is this for investment (focusing on ROI/appreciation) or personal use (focusing on amenities/location)?
Preference: Off-plan vs. Ready, and your preferred property type (villa, apartment, townhouse).
Priorities: Which factor is most critical—location, view, amenities, size, or financial return?
Is Life insurance mandatory for taking a mortgage in the UAE?
Yes, life insurance (specifically mortgage reducing term assurance) is legally mandatory for any property mortgage in the UAE. The bank issuing the mortgage will typically require you to purchase their in-house policy, and this cost is generally amortized within your monthly mortgage payments.
What are the recurring fees that homeowners pay in Dubai?
Homeowners in Dubai primarily pay Community Fees (or Service Charges). These are mandatory, recurring fees paid annually to the building or community management. They cover the operational expenses, maintenance, and upkeep of common areas, including security, landscaping, shared facilities (pools, gyms), and waste management. These fees are calculated based on your property’s size and category.
Is there any mortgage available for off-plan property in Dubai?
Yes, both UAE residents and non-residents can obtain mortgages for off-plan properties, provided they meet the bank’s qualification criteria. However, bank financing usually kicks in closer to the property’s completion and handover date. Newizz Realty works closely with trusted financial partners to help investors secure pre-approval well in advance of the handover to ensure a smooth final payment.
Is Dubai a good place to live?
Dubai is consistently ranked as one of the best global cities for quality of life and safety. It offers a unique blend of world-class infrastructure, tax-efficient living, hyper-modern amenities, and a highly diverse, tolerant community. Recent advancements in visa and residency laws have made it easier than ever for professionals and families to settle here permanently. The city truly offers a future-forward lifestyle.