Full Guide To Buying Real Estate In Dubai (Ready vs Offplan)
Table of Contents
Introduction
Thinking about investing in Dubai real estate but feeling unsure where to start? Let me walk you through it! Whether you’re considering ready properties or off-plan investments, We’ll give you a general overview to help you get started.
Here’s a video on the same topic by our Co-Founder, Kevin McKenzie.
Ready Properties: A Popular Choice
There’s nothing quite like buying a ready property. It’s tangible, immediate, and versatile. You can rent it out long-term, list it on Airbnb, or even move in yourself. Here’s a quick guide to buying ready properties in Dubai:
Financing Options for Residents
If you live in Dubai, you might qualify for a mortgage. However, the process can be a bit tricky:
Employed by a Big Company:
- If you work for a well-established company with a good track record and local bank ties, you’re in luck.
- You’ll typically need six months of salary statements (sometimes three months, but expect a higher interest rate).
Self-Employed or Working for a Small Company:
- You’ll need two years of audited company financials, personal bank statements (6-12 months), and documentation from a top auditing firm in the UAE.
- Mortgages for self-employed individuals can be challenging, but they’re not impossible.
Personal Example
After three years in Dubai, I finally qualified for a mortgage. While the amount wasn’t huge (around AED 1.6M), it was a start. For properties I want, I still need to add a significant amount of my own cash. But once you secure your first mortgage, refinancing options for future purchases become more accessible.
Financing for Non-Residents
If you’re not a resident, the process can actually be more straightforward in some cases. Expect to:
- Provide 6-12 months of personal statements and utility bills.
- Qualify for around 50% financing of the property’s value. For example, on a AED 2M property, you’d need AED 1M in cash and can finance the rest.
- For residents, loans can go up to 80% of the property value, depending on eligibility.
Steps to Purchase a Ready Property
- Get Pre-Approved: Secure financing before starting your property hunt.
- Find the Right Property: Work with a trusted agent or consultant (like GenZone!) to identify the best options.
- Property Valuation: Ensure the property meets the bank’s criteria.
- Transfer Ownership: Complete the process at a Dubai Land Department (DLD) trustee office, and the property is officially yours.

Off-Plan Properties: A Future-Focused Investment
Off-plan properties are another excellent option, especially for investors seeking future gains. These properties are sold before construction or during the building phase. Here’s how to approach this type of investment:
The Basics of Off-Plan Investment
Initial Payments: Expect to pay around 25% upfront. For a AED 1M property, this breaks down as:
- 20% down payment.
- 4% DLD fee.
- Miscellaneous administrative costs.
Advantages: The property’s appreciation during construction often exceeds potential rental income from a ready property.
Risks: Ensure you’re working with a reputable developer who sticks to deadlines.
Secondary Market Off-Plan Purchases
Some investors buy off-plan properties and later decide to sell before construction is complete. Here’s what you need to know:
- Outstanding Payments: Ensure all payments are up-to-date. If not, you’ll need to cover the balance to proceed with the transfer.
- Developer NOC (No Objection Certificate): Obtain this document by paying a fee (around AED 4,000) to confirm the seller’s account is in good standing.
- DLD Fees: Yes, you’ll need to pay the 4% DLD fee again, even if the seller already did.
Potential Risks and Scams
- Outstanding Payments: Avoid paying off the seller’s remaining balance unless you completely trust them.
- Fake POAs: Be cautious of power of attorney (POA) scams. Work only with reputable lawyers or agencies to handle these transactions.
Why Work with Experts?
- Navigating Dubai’s real estate market can be complex. With GenZone, you get:
- Access to the best projects and developers.
- Guidance through the entire process, from financing to final transfer.
- Assurance that your investment is secure and set for future growth.

Ready to Invest? Let’s Talk
Whether you’re looking at ready properties or off-plan investments, each option comes with its own set of pros and cons. Ready properties offer immediate returns, while off-plan projects often promise higher long-term gains. Regardless of your choice, working with a trusted partner like GenZone ensures your investment journey is smooth and secure.
If you’re ready to explore Dubai’s vibrant real estate market, book a free consultation with our team. Let us help you find the perfect property to meet your needs and grow your wealth.