Frequently Asked Questions
Question about selling
Yes, a home can depreciate in value due to factors like poor maintenance, unfavorable location changes, market downturns, or economic shifts. However, in a growing city like Dubai, well-maintained properties in good locations often retain or even appreciate in value over time.
It depends on the condition, location, and features of the property. Older homes in prime areas may offer better space or construction quality, while newer homes often come with modern amenities and energy efficiency. A professional inspection is always recommended to evaluate true value.
A real estate broker is a licensed professional who connects buyers and sellers or landlords and tenants. Brokers help with negotiations, documentation, market evaluations, and ensure the property transaction complies with UAE regulations.
In Dubai, property owners are responsible for paying service charges, utility bills, and insurance directly. However, in some cases, these may be handled by property management companies or included in rental/ownership agreements. It’s important to clarify this in the contract.
On average, mortgage loan approvals in Dubai take 1 to 3 weeks, depending on your documentation, credit history, and bank processing times. Pre-approval can speed up the process and make your property search smoother.
Question about renting
While depreciation mostly affects property owners, it can indirectly impact renters too. For example, a depreciating home might indicate poor maintenance or a declining neighborhood, which could affect your living experience or rental renewal terms.
Older homes may offer larger spaces or lower rents but might lack modern amenities. Newer homes typically feature smart layouts, better insulation, and modern appliances. It depends on your preferences and lifestyle.
A real estate broker assists you in finding rental properties that meet your needs. They handle negotiations with landlords, ensure fair lease terms, and help with legal documentation to make the renting process easier and more secure.
As a tenant in Dubai, you typically don’t pay property taxes or insurance. However, you may choose to purchase renters’ insurance for your belongings. Service charges and DEWA (electricity/water) bills are usually your responsibility.
This question is more relevant to buyers than renters. If you’re considering rent-to-own options, then financing timelines could apply. Otherwise, tenants usually sign lease agreements quickly once terms are agreed and payments are made.