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When the first trance of properties came onto the market for sale, they were classified as leasehold. Most of these properties are now freehold.
There is currently an implied promise from competent officials, albeit not in writing, that in the future, foreigners will be able to register in their own names.
This is extremely rare. On certain developments purchasers are able to choose finishing to such items as cupboards and worktops in the kitchen and tiling to the floors. Any upgrading would ordinarily be done after completion in much the same way as one might anywhere else in the world. Developers tend to buy in bulk: thus keeping construction costs down, and enabling them to budget accordingly.
On most developments there is a service charge payable after completion. These are only payable in relation to common areas such as parks within the Development – as well as for road maintenance. Clearly, as the cost of maintenance increases, then so will the charges but few anticipate huge increases. The maintenance of your own property and grounds is entirely separate – as you would expect with freehold property ownership.
No, not yet. Lawyers are able to ensure security of financial transaction and can hold a designated client account, from which they ensure funds are paid out to the appropriate organizations and/or individuals. They also review the contract and documentation, generally before signing for purchase, although there is no system in place at present where you can make preliminary enquiries of the property as part of the transaction. It is important to ensure that you are contracting to purchase that which you intend to purchase and questions can be asked but are usually done on a less formal basis at present.
The Purchase Sales Agreement (Contract) stipulates that you will be entitled to receive a Residence Visa for as long as you own the property. In accordance with the normal Immigration laws in the UAE, every three years your Residence Visa will be renewable.
Of course, but at present any transfer of ownership must be done via and with the approval of the developer and the developer for the transaction makes an administrative charge.
The Cavendish, Awali City, Ajman Area Information: • Situated strategically just of the Emirates Road, opposite Emirates City • Approximately 20km from Dubai • Ajman is an emerging property market within the UAE which offers inves...
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0 Beds Price: £44,500
Profile Residence Profile Residence - an overview Located at Dubai Sports City, Profile Residence introduces contemporary living amongst an environment of sporting activities, the residence features state-of-the-art...
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The Waterfront Prime location Waterfront is located on the last 15 kilometers of Dubai’s natural coastline to be developed and faces directly onto the Arabian Gulf. It is the world’s largest waterfront development ...
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Calabria - Italy Napitia Hills is perched at the most elevated point of Pizzo providing each property with unobstructed panoramic sea views over the town itself. Within a 15 minute walk you can enjoy the day to day li...
Hurghada - Egypt New Release - Tiba Paradise is the 6th Tiba Project by the highly successful local developers. The project is located in the up-and-coming Al Ahyaa district in a region that is close to Hurghada and a...
Florida - America This ground floor, 2 bedroom / 2 bathroom, 912 sq ft condo has a fully fitted kitchen including washer/ dryer, spacious lounge with dining area leading to a private patio. The master bedroom has an en...
Belek - Turkey These modern contemporary apartments are situated in a prime area in Belek - Turkey's Golfing Mecca. Not only cosmetically but also with the advanced construction and architectural techniques to be us...
Pattaya - Thailand Hot on the heels of Laguna Beach Resort Jomtien, Pattaya’s most successful resort condominium now over 75% sold out, we are commencing pre-launch sales for Laguna Beach Resort 2. Laguna Beach Reso...
El Gouna - Egypt Uniquely situated within the Mansions area in the established resort of El Gouna, the fresh G-Cribs project has come to introduce the concept of youthful style to the area, offering studios, apartment...
Kusadasi - Turkey Fully furnished apartment on stunning development On the Aegean Coast of Turkey is an unspoiled area of natural beauty, an area of historical and natural containing thermal springs built far away ...
Natal - Brazil Invest in social housing in Brazil with an anticipated return of 20 per cent in 12 months. What deposit accounts will offer this return over 1 year? Investment Facts • Minimum investment just ...
