How to Buy a Resale Property in Dubai: A Comprehensive Guide

Learn how to buy a resale property in Dubai, from finding the right home to securing financing and transferring ownership. This guide covers key steps, costs, legal requirements, and expert tips.

Article Overview

Introduction

1. What is a Resale Property?

2. Steps to Buying a Resale Property in Dubai

Step 1: Define Your Budget and Financing Options

Step 2: Find a Suitable Resale Property

Step 3: Make an Offer and Sign a Memorandum of Understanding (MOU)

Step 4: Secure Mortgage Pre-Approval (If Needed)

Step 5: Obtain a No Objection Certificate (NOC)

Step 6: Transfer Property Ownership at the Dubai Land Department (DLD)

3. Fees and Costs When Buying a Resale Property in Dubai

4. Benefits of Buying a Resale Property in Dubai

5. Can Expats Buy Resale Properties in Dubai?

6. How GoDubai Portal Helps Buyers Find the Best Deals

Conclusion

Introduction

Buying a resale property in Dubai is a popular choice for investors and homeowners looking for ready-to-move-in properties. Unlike off-plan properties in Dubai, which require waiting for construction completion, resale properties allow immediate occupancy or rental income.

Dubai’s real estate market offers a wide range of properties for sale in Dubai, from luxury villas and apartments to affordable options. Whether you're looking at Dubai Marina apartments for sale, villas for sale in Dubai, or townhouses for sale in Dubai, understanding the resale property purchase process is essential.

This guide provides a detailed, step-by-step process for buying a resale property in Dubai, covering legal procedures, financing options, fees, and expert recommendations.

1. What is a Resale Property?

A resale property refers to a ready property that an existing owner is selling, as opposed to a developer selling off-plan properties in Dubai. These properties can be:

✔ Apartments, villas, or townhouses in freehold or leasehold areas
✔ Luxury properties in Dubai with high-end amenities
✔ Investment properties in Dubai with strong rental yields
✔ Commercial properties in Dubai for business use

Resale properties can be found in areas like Downtown Dubai, Dubai Marina, Jumeirah Beach Residence (JBR), Palm Jumeirah, and Arabian Ranches.

🔗 Best Areas to Buy Property in Dubai

2. Steps to Buying a Resale Property in Dubai

Step 1: Define Your Budget and Financing Options

Before searching for a resale property, determine your budget and mortgage eligibility. Buyers can either:

✔ Pay in cash – Faster and avoids mortgage approval delays.
✔ Secure a mortgage – Suitable for expatriates and investors financing their purchase.

🔗 Mortgage Options in Dubai

To qualify for a mortgage:

• Expats must have a minimum salary of AED 15,000 per month.
  
  

• The down payment is at least 20% for properties below AED 5 million.
  
  

• Interest rates vary between 3-5% annually.
  
  

🔗 How to Buy Property in Dubai as an Expat

Step 2: Find a Suitable Resale Property

Explore listings for apartments for rent in Dubai, villas for sale in Dubai, and more through:
✔ Property portals (Bayut, Property Finder, Dubizzle)
✔ RERA-registered real estate agents
✔ Developer listings and secondary market sales

🔗 Dubai Real Estate Market Trends

Step 3: Make an Offer and Sign a Memorandum of Understanding (MOU)

Once you find a property:
✔ Negotiate the purchase price with the seller.
✔ Sign a Memorandum of Understanding (MOU), outlining the terms.
✔ Pay a 10% deposit, held in escrow by the broker.

🔗 Dubai Property Transaction Fees

Step 4: Secure Mortgage Pre-Approval (If Needed)

If financing through a bank:
✔ Obtain pre-approval before finalizing the purchase.
✔ Ensure the property is approved by the bank for financing.
✔ Submit required documents: passport, Emirates ID, salary certificate, and property details.

🔗 Investment Properties in Dubai

Step 5: Obtain a No Objection Certificate (NOC)

The developer must issue an NOC confirming that the seller has cleared all payments.
✔ This ensures there are no outstanding service charges or mortgage liabilities.
✔ Developers typically charge a fee between AED 500 – AED 5,000 for the NOC.

🔗 Freehold vs Leasehold Properties in Dubai

Step 6: Transfer Property Ownership at the Dubai Land Department (DLD)

The final step involves transferring ownership at the Dubai Land Department (DLD).
✔ Meet at a DLD Trustee Office with the buyer, seller, and real estate agent.
✔ Pay the Dubai property transaction fees and sign the transfer documents.
✔ The new owner receives a Title Deed, confirming legal ownership.

🔗 How to Transfer Property Ownership in Dubai

3. Fees and Costs When Buying a Resale Property in Dubai

🔗 Dubai Property Transaction Costs

4. Benefits of Buying a Resale Property in Dubai

✔ Immediate Ownership – Move in or rent out right away.
✔ Established Communities – Located in well-developed areas like Dubai Marina, Downtown Dubai, and Jumeirah.
✔ Transparent Pricing – No uncertainties related to construction delays.
✔ Better Financing Options – Easier to secure a mortgage than off-plan properties in Dubai.

🔗 Renting vs Buying in Dubai

5. Can Expats Buy Resale Properties in Dubai?

Yes, expats can buy freehold properties in Dubai in designated areas, including:
✔ Palm Jumeirah
✔ Dubai Marina
✔ Downtown Dubai
✔ Jumeirah Golf Estates

For leasehold properties, ownership is limited to 99 years.

🔗 Freehold vs Leasehold Properties in Dubai

6. How GoDubai Portal Helps Buyers Find the Best Deals

Looking for a trusted real estate broker or investment opportunity? GoDubai Portal offers:

✔ A comprehensive database of all off-plan and resale properties in Dubai.
✔ Verified DLD market insights and pricing trends.
✔ Access to RERA-approved real estate agents.
✔ Exclusive marketing tools for investors and property buyers.

🔗 Subscribe to GoDubai Portal to stay updated on the Dubai real estate market.

Conclusion

Buying a resale property in Dubai is a smart investment, offering immediate returns and secure ownership. Whether you’re looking for a luxury villa, an affordable apartment, or an investment property, understanding the buying process, legal requirements, and associated fees is essential.

By following this guide and using trusted platforms like GoDubai Portal, you can make an informed real estate investment in Dubai.