Now Let Us Give You An Idea On What This Blog Brings You!
- What is a freehold property in Dubai?
- How to buy Freehold property in Dubai
- Advantages of owning a freehold property in Dubai
- Freehold VS Leasehold Dubai
- Freehold areas in Dubai
- Freehold Apartments for Sale in Dubai
- Freehold Villa for Sale In Dubai
- Cheapest Freehold Property In Dubai
- FAQs
Let us try to clear you with every thought related to freehold property in Dubai that helps you to achieve your dream property.
What If I Ask You About A Freehold Property? Do You Know?
So freehold property is the one which is ‘free from hold’ it is just the owner that has 100% ownership and a freehold property will not require any consent when you plan to sell out.
Some Basics You Should Know About Freehold Property:-
- The buyer becomes 100% owner
- Enjoy 100% right on your property
- The cost of freehold property is a little higher
- No tenure in freehold property
- There is no such duty to follow
- Easy to get a bank loan
- Do not involve any charges
After getting a complete definition on a Freehold Property next let us take you the standard process of buying a property in Dubai.
How To Buy Freehold Property In Dubai?
Let us give you the basics of Steps of buying freehold property in Dubai
- Formulate a contract between the buyer and seller
- Signing the agreement for sale
- Application for a no objection Certificate
- Ownership transfer with DLD
After completing the above legality, a new title deed will be issued in your name and finally, you will become a property owner in Dubai and start having its advantages.
Advantages Of Owning A Freehold Property In Dubai
- You can modify your home either interior or exterior with any consent
- You have right to rent out your home
- Leeway to install anything in your home
- Keep pets if you wish
- No charges to be paid like ground rent
So with every freedom the freehold property you can have the best use of your property where the complete ownership doesn’t involve anyone else and you have absolute rights to its safety, changes and construction.
After this, if you are still confused with leasehold, then let us give you the basic difference between both of them.
Freehold VS Leasehold Dubai
FREEHOLD | LEASEHOLD |
You are a complete owner | You are not the 100% owner |
Higher Resale Value | 30 Years Old Leasehold Property May Depreciate |
Tenure Is Forever | Lease Is Generally For 30, 60 and 99 years |
Little expensive | Relatively cheaper |
No Additional Charges | Rent or Extra Charges To Be Paid |
No Need To Renew Any Paper | Need To Renew The Lease |
The above comparison gives a better picture on Freehold & Lease property, now let us move to the list of freehold properties in Dubai where the expats or non UAE get a bigger change to be a part of property that gives 200% ownership and freedom to the owners to have full utilization and access.