Purchase & Living Cost

Booking Process:
The Buyer Can pay through Credit Card by signing a credit card form or pay through a cheque of 10% of the Original Price plus complete information of the buyer.
Payment Terms
Payment terms for each project varies, but tends to be a 15% or 20% deposit followed by staged payments linked to the build stage of the property. We have included a separate sheet detailing payment terms for each project that Dubai Realty Trac markets.
Purchase Tax
There is no Purchase Tax in Dubai.
Other Expenses
Sales Registration Charge for purchaser 1.5%. There is a sales charge of 2% of which the buyer pays 1.5% and seller pays 0.5% to the Dubai Lands Department, which registers the movement of real estate exchange. Utility charges are at actuals.
Maintenance Charge
There is an annual maintenance charge payable by the property owner to the association which comprises all the homeowners of the project. The Association has a President and Manager who manage the day-to-day maintenance of the project. They are responsible for maintaining the accounts which would be audited and a copy made available to every homeowner. Contracts detail that the contribution of every owner is up to a maximum of AED 12 (approx L1.79) /ft2 per annum. This charge includes all the 5-star facilities and features that comes with every project: infinity temperature controlled swimming pool, health clubs, Jacuzzi’s, saunas, tennis courts, landscaped gardens, 24 hours security, etc…

Buying Guide
Who can buy?
Citizens of all nationalities can buy in Dubai.
Tenure of Property
Properties are freehold
Investing in a Rental Property
Investing in rental property has become increasingly popular in recent years. That’s not surprising if you consider the potential rewards: you can not only generate rental income, but also profit from increasing housing prices. But success as a landlord requires more than collecting rent checks and riding the real estate market—there’s real work involved, and substantial risk as well. Here are some tips that can help you make an informed investment decision.
Do the math
Unlike a primary residence, a rental property isn’t an emotionally driven purchase—it’s an investment. And as an investor, you should think about it primarily in terms of profit and loss, risk and reward. Whether you come out on top will depend mostly on two factors:
Cash flow: Consider how much rent you can collect each month, and how much will be left over after mortgage payments, maintenance costs, and other expenses.
Appreciation: Rental-property owners can’t rely only on appreciation to make their investments profitable, but it certainly can help.
Evaluate the market
Like any other business, rentals are subject to the basic forces of supply and demand. If apartments are in short supply, you probably won’t have trouble filling yours. When you are trying to generate positive cash flow from a rental property, vacancies are perhaps your greatest enemy. They cost you money and generate no income in return.
Your first line of defense against vacancies is a good evaluation of the rental market before investing. Talk to Realtors and property managers in the area, and check the frequency of rental listings in the local paper. Keep in mind that certain neighborhoods, such as those near schools or universities, may have higher demand for rentals than others.
Prepare for the commitment
Owning a rental property is more than an investment—it’s a business. You have to be willing and able to commit the time and resources necessary to run your business successfully. Whether you are actively involved in the day-to-day operations or hire someone to manage them for you, make sure you understand how much time or money you will have to spend before you invest.
Buying a Vacation Getaway
With the hustle and bustle of everyday life, many people fantasize about running off to a personal retreat, and increasing numbers of homeowners are living out that fantasy by purchasing a second home.
Choosing a location
Do you want to be in the middle of a vacation hot-spot, or enjoy the peace and quiet of a secluded location? Whichever environment you prefer, here are some things you should consider:
Popularity: A house in a hot vacation market will usually cost more than a place off the beaten path. At the same time, continued popularity may help you profit from appreciation.
Proximity to your home: If you plan to visit regularly, look for a place that’s easy to get to.
Rental possibilities: If you’re hoping to offset some costs by renting the home for part of the year, find out about seasonal demand for rentals in the area.
Benefits of Owning a Second Home
Whether it’s a vacation home or a rental property, a second home can give you many of the same personal and financial benefits as your first home
Lifestyle benefits
If your second home will serve as a personal getaway, you’re probably looking forward to having a place to relax with family and friends. Whether it’s a lake-side cottage or a condo by the beach, knowing that you can retreat from the hustle of daily life to your own private vacation spot has an obvious appeal.
Mortgage / Financial advise
Mortgages are available on Dubai properties to foreign nationals. Speak to Dubai Realty Trac, Team for further information.
Transfer of Titles
Upon the purchaser fulfilling their obligations in terms of the Sale Agreement, the Seller shall transfer a clear and unencumbered freehold title in respect of the property to the purchaser at the Lands Department as soon as reasonably possible after the Completion Date.
Letting
Rental prospects of properties in Dubai are very good. In general, current rental levels are about 10%. Professional rental service companies are available in Dubai and Dubai Realty Trac, LLC will shortly be introducing a web rental board to advertise your property privately. Contact Dubai Realty Trac, LLC for further information.

Other Information
Residency
A Household Residence Visa (valid for 99 years) is offered to every registered owner of property (excluding The Crescent Towers development). It is required to renew the visa every 3 years. The visa is only offered to the first named buyer (in case of joint buyers) with every property.
The investor may obtain residency visa for a husband, wife and immediate family below 18 years of age. Permission to work, however must be obtained separately if necessary.
Tax Regulations
There are simply no taxes in Dubai. For more info. Click http://www.inlandrevenue.gov.uk/