Freehold Vs Leasehold Property In Dubai – All You Need To Know
If you’re planning to invest in real estate Dubai , it’s best to know and understand the different types of properties that you can acquire. Knowing the difference, no matter how simple can help you decide on which type of property is more suitable for your intended purpose. What types of property can foreigners acquire? Foreigners and ex-pats may acquire properties in designated areas in Dubai. They may opt to buy a leasehold property or a freehold property Dubai . Leasehold properties Buying a property on a leasehold basis will allow you to obtain property rights for a fixed term, a maximum of 99 years. However, if you do not buy the property’s land, the ownership will remain with the freeholder What are the pros and cons of buying a leasehold property? Advantages Since ex-pats and foreigners in Dubai are not permitted to own properties on freehold in non-designated areas, buying properties on leasehold provides more options regarding the price and area selection. ...