 When you're buying a property that is under construction, you can do it everything from abroad, no need to come here. When you transfer the money, you're not transferring it to the developer, you're not transferring it to the brokers, you transfer it to the specific bank account. Whatever guys you can see around wasn't here 20 years ago. Hey guys, welcome to my channel. Today I have a guest, my husband Denis, he's a real estate agent and in this video we're gonna talk about how to buy an apartment in Dubai. Please can you tell us what are the main things people need to know if they want to buy property in Dubai? Okay, well first of all people need to know that here in Dubai we have two types of areas where people can buy a property. One of them is called freehold, another one is leasehold. If you are a foreigner you can own a property only in the freehold areas and if you are considering a leasehold there you can buy a right to use the property basically a lease for a long period of time like 99 years. As usual whatever you can see online that for sale it's a freehold property and especially new developments and basically developers as well are building mainly in the freehold but just keep it in mind that if you buy a property and you are the foreigner you need to focus on the freehold areas. This is one of the important things that people need to know. Another thing is that when you are purchasing the property in Dubai like if it's a freehold you become a proper owner and even like your kids can inherit the property because there are some things related to the Muslim countries where there is a specific law for the inheritance. Here it doesn't really apply so if you buy the property you are a proper owner and then your kids can inherit it. So this is like some basic basic things about the properties. And what is the difference between radio property and off-plan property? Okay in Dubai as Dubai is a young city whatever guys you can see around wasn't here 20 years ago developers are keep on building here new projects because it's a young city as I said. So as a buyer you can choose between the radio property or you can buy a property that is still under construction. So what are the main differences there? So when you're buying a property that is still under construction first of all you don't have to put all the money up front because there are payment plans and you need to follow the installments. In some cases even the developer can give you the keys before you even finish all payments. So there is a post-hand over payment plan. So let's say you pay it 50% you can get the keys and you have three years to cover another 50% and right now it's a very very popular payment plan. And obviously when you are buying from the developer you have more option to choose from rather than on the resale market because like okay there is a person who wants to sell his property but this is a three bedroom apartment on the seventh floor so like you want to buy three bedroom apartment on the higher floor lower floor so from developers usually it's easier. The advantage of the resale market is that there especially with the current situation there are some sellers who urgently needs money and they might sell it like below the market price so this is an advantage of the resale market. When you're buying a property that is under construction you can do it everything from abroad no need to come here and like 90% of transactions right now are happening this way so you don't have to be here because here we have all the structure all the laws and regulations that protects interest of the investor who is buying from abroad and on secondary market you need to come here and it usually takes around one month months and a half to complete the transaction because these are some of the main differences. What is the document required to buy property in Dubai? It's very very simple you need to have your passport copy and you have the you need to have money basically that's it when it comes to the off-plan purchase when you buy directly from the developer as I said you can do it everything from abroad so we just need your passport copy that's it from the documents obviously we need your email we need your address you need your phone number and the developer will prepare the reservation agreement he will send it to the to the client and like everything is very very simple yeah oh it's so simple for the secondary market it's pretty much the same if it's a cash purchase you just need to have your passport copy and the money for the mortgage you need to have a pre-approval from the bank before you start looking for for the properties and then again it's a passport copy and some documents from the bank the process is very simple and one more thing that I can highlight when it comes to the off-plan projects is that when you transfer the money you're not transferring it to the developer you're not transferring it to the to the brokers you transfer it to the specific bank account that is called like escrow account and when you transfer this money to this bank account the developer can just take it and use it for whatever reason he wants this bank account is regulated by the government the developer can use this money only towards the payment for the construction of of the property and the small part of it goes for the marketing what are the most popular areas today where people buy properties in Dubai it's usually like the most popular areas are areas that have access to the to the water like waterfront properties so we're talking about Dubai marina palm jumeirah specifically in this year we have very high demand for the townhouses so Dubai hills there the prices increased significantly during this year overall the most popular area was and still remains Dubai marina what are the starting prices to buy property today if it's a waterfront project a new development it will be around like 320 000 dollars it's for the one bedroom apartment in in the areas that are not next to the water you can get the one bedroom for around 200 000 dollars and the studio starts from 120 000 dollars and again you have a payment plan so you don't have to put all the money up front what people should know to avoid scammers in Dubai when they buy property whenever it comes to the like big amounts of money there are always some kind of risk involved but if the buyer is working with like a proper advisor there is no chance that he'll end up in some kind of scam people need to keep in mind that whenever they're buying a property on the off plan market they should always pay their money only towards the escrow account this is very very important how you can check if it's an escrow account or not there are like websites of the pilot department where you can search for the project and see if there is an escrow account or not even if somebody is saying you this is an escrow account this is an escrow go and check the escrow account should have as well the name of the project so if there is a abc tower where you want to buy there should be abc tower trust account or escrow account written on the on the bank account this is very very important i had a case with my client who bought the property he transferred the money to the escrow account there were some issues with the project he got his money back it took some time but he got his money back so if you're buying an off plan please transfer the money only towards the escrow account don't transfer it to the developer account because you expose yourself to the risk for the resale don't give any checks to the seller before the transfer you can give it to the broker if it's a licensed broker they can give the check with them but don't give any money to the seller before the transfer is before the transfer because there are cases when somebody is saying oh give me like 10 percent now and later on we will meet and you will make and we will complete the transfer they cash the check and they can disappear so this is an important thing and the most important thing is like try to find a good advisor with whom you can sit and discuss all these things and who can assist you with like your research and can highlight some of the projects that might suit you okay Deniz thank you very much for this information guys i will leave the link to his contact details in the description under this video if you have any questions you can always reach out to him and thank you for watching i will see you in the next video bye bye