1: Can I pay in installments?
Yes there is almost always an installment payment plan until the projects are completed, and the down payment ranges from 20% to 40% depending on the project.
In some cases, there is an installment system even after projects are completed. Sometimes, there can be installment payment plans for completed projects as well.
2: Do I have the opportunity to sell my property before the project is completed?
Depending on the project that you purchased from, you can sell your property during the construction phase, there may be 2% or 3% commission that must be paid to the developer if this is mentioned in the sales contract in some cases.
3: Can I apply for a mortgage in Dubai?
In order to obtain a mortgage through banks to buy real estate in Dubai, you need to have a regular income here, and because this is usually not possible, it is not possible to obtain loans from the banks in Dubai, however we will support you in this matter. There may be concessions for some projects.
4: What are the maintenance fees I have to pay for the complex?
Maintenance fees vary according to the project. Certainly, when there are more facilities in the complex, the maintenance fee can be increased, however, compared to other cities such as Dubai, maintenance fees in Istanbul are very reasonable, per month it will be about 1 to 1.5 dollars per square meter. For example, for a two bedroom apartment which is 100 square meters, you will pay $ 100 per month maintenance fee to the management.
5: What are the final costs / taxes for purchasing a property?
Purchase tax: 4% of the sales price. (Usually, it is divided between the buyer and the developer, so that it is 2% for each party).
VAT: 1% of the sales price. (If the area of the apartment is greater than 150 square meters, the VAT will be increased to 18% of the sales price).
Utilities Application (Electricity, Water, Telecom, Gas): Approximately 1,000 USD maximum.
Stamp Fee + Notary Fee: Payable only for projects that are funded by the government. Usually no value-added tax is paid for these projects, which makes the terms almost equal for the buyer.
6: What rental income tax do I have to pay?
The rental income tax gradually increases until it reaches zero percent, after this limit, the tax will increase from 15% to 35%, however, many costs can be reduced from this income and this tax can be reduced, please check the useful information section to obtain More information on this topic.
7: Can I obtain a residence permit in Dubai (residence visa) if I buy a property?
Depending on the new law, every foreigner can obtain a residence permit for a period of 1 year (renewed every year with the existence of the Tapu) until the sale of your property.
8: Are there any restrictions for foreigners to buy a property in Dubai?
Only in rural and military areas. As for the real estate development areas in which we promote, there are no restrictions imposed.
9: Who determines the price of the property?
If you buy a property in a new development area, the price will be determined by the developer, regardless of the real estate agent’s commission. You must pay the same price with whomever you buy through, if you buy directly or through a third party.
10: Can everyone sell real estate in Dubai
Yeah. Sellers of jewelry and leather and dealers are the most well-known real estate sellers in most tourist areas of Dubai