Which costs do I have to consider when buying a property?

Apart from the purchase price, a commission of generally 2% of the purchase price must be paid to the real estate broker office. The authority regulating real estate matters in the Emirate of Dubai, the Dubai Land Department, usually charges a so-called transfer fee of 4% of the purchase price, which must be paid in equal amounts by both the seller and the buyer, provided that the parties have not agreed on a different payment ratio. In practice, this fee is regularly borne by the buyer. Further, the buyer must account for at least AED 2,000 charged by the real estate registration trustee office, which handles the actual property transfer, as well as the costs for the issuance of the title deed, which currently amount to AED 580. Additional costs might accrue for the application of no objection certificates, such as from the project developer.

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