As a leader in property management and real estate in Dubai, this is quite a common question we receive from buyers and new investors, and same is the case for any established real estate company in Dubai.
From a foreign investment perspective, properties referred to as freehold in Dubai are those located in “designated areas” in which non-nationals can own an absolute interest in land.
To elaborate, freehold property is any estate which is “free from hold” of any entity besides the owner. Hence, the owner of such a property enjoys free ownership for perpetuity and can use the property for any purposes however in accordance with the local regulations. On frequent occasions, it is usually 1 unit owned by 1 individual. Sale of a freehold property does not require consent from the state and hence requires less paperwork, thus, making it more expensive than leasehold property. It is also essential to instruct a property lawyer to conduct thorough due diligence.
There are 47 freehold areas in Dubai. Popular areas include Dubai Marina and Jumeirah.
Finding the right freehold property as per your need and requirements can be challenging, and a time consuming task. With all the information available online, finding a freehold property in Dubai on a real estate firm’s website would be the ideal place to start looking.
Real Estate Companies specializing in Freehold, like Rocky Real Estate Brokerage LLC, are knowledgeable on the spaces available, more so, the market price of the units in the area you prefer.
Once you have decided on the designated location, the next best step would be to contact an established firm that can assist you in the transaction from the start to the end.
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