EUR
enCosts when buying real estate in the UAE
Land Department (DLD) fees:
- One-time fee in favor of the emirate government - 4% of the value of the property ( seller and buyer usually pay it 50/50 )
- Administrative Fee AED 580 ($160) for apartments, AED 430 ($117) for land plots and AED 40 ($11) for properties under construction.
- registration fee. AED 2,000 ($545) + 5% VAT if the value of the property is less than AED 500 thousand ($136 thousand) and AED 4,000 ($1,090) + 5% VAT if the value of the property exceeds AED 500 thousand.
Additional costs for mortgages:
- mortgage registration fee at the Land Department - 0.25% of the loan amount plus AED 290 ($80)
- Bank fees - 1% of the loan amount + VAT
- Real estate valuation to determine the interest rate on the loan - from 2500 to 3500 dirhams + VAT (680 - 960 $).
- Life insurance - from 0.4 to 0.8% of the loan amount per year
Other costs:
Cost of NOC certificate of indebtedness - from AED 500 to 5000 ($140 - 1360 $)
Agency commission - from 2% to 4% of the property value
Legal services - from AED 6,000 ($1,630)
Expenses for a power of attorney, if the transaction is held online - from 100 $
