How to buy property in Dubai online

Investing in real estate in Dubai is quite a profitable investment with high ROI rates. Compared to other European countries, the annual rental yield in Dubai may vary from 6% to 12%. The process of buying real estate in the UAE may seem quite complicated, especially for inexperienced buyers.

We at Metropolitan Premium Properties offer a wide range of residential properties in both primary and secondary real estate markets, from studios and apartments to penthouses and villas.

Our highly qualified agents will help you to choose the type of a property, and give advice on which area is the best to invest in: Downtown Dubai, Dubai Marina, Business Bay, MBR City, Jumeirah, etc. The purchase can be done personally or remotely, and the payment can be made either by cash or cryptocurrency.

Our range of services includes:

• sale and resale of ready-to-move-in and off-plan property;
• rental of commercial and residential property;
• assistance in property management;
• mortgage, commercial and private lending in banks in Dubai and other Emirates.

A step-by-step guide to buy real estate in Dubai online

Since May 2020, as a counter-measure against the influence of coronavirus pandemic on Dubai’s real estate market, Dubai Land Department (DLD) officially allowed to make transactions regarding the purchase or sale of real estate remotely via online services. Today, one can implement all the necessary procedures and transactions without a physical presence in Dubai, from anywhere in the world.

Step 1: Choose a property.

After checking our website and choosing a property, you may register your interest so our real estate agents could contact you.

You can filter available properties by location, price, type and size based on your own preferences. The agent will provide you with all the necessary information about the property (including brochures, floor plans, photos and videos). After you made a decision the agent will send the necessary documents for signing first to you, and then to the registration manager via e-mail.

The required documents include:

• Completed Form A and Form B received from the agents of both parties.
• Sales contract (Form F) signed by all parties to the transaction.
• Certificate of ownership of the property (Title Deed).
• NOC from the developer confirming that there are no objections to the transfer of ownership rights.
• International passports of both buyer and seller, and Emirates ID (if available).
• IBAN – seller’s international account number.

Step 2: Register the transaction.

After submitting the documents, the trustee registers the transaction and uploads it to the online system of Dubai Land Department (DLD).

Step 3: Confirm your identity.

After all the data were sent to the system, DLD initiates a video conference with both parties to the transaction in order to confirm the identity of the parties and their signatures in the contract.

Step 4: Pay a down payment.

After that you will get a payment link to the DLD’s escrow account (IBAN) to pay a down payment, government fees, realtor and trustee services.

Step 5: Get ownership documents.

After all the funds were transfered to the account, the transaction will be approved and the buyer will be provided with a new document confirming their ownership (Title Deed), as well as an digital copy of the sales contract.

Should be noted that it is possible to get a mortgage or a payment plan from the developer. The main developers of Dubai, such as DAMAC, Emaar Properties, Meraas, Dubai Properties, Select Group, offer affordable payment plans under the 30/70, 40/60 or 60/40 scheme for a period of 3 to 5 years.