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Three years on from Dubai’s Land Registration fee hike

BY: AMNA UMER SULTAN

It’s been exactly three years since the Land Registration fee, for buying and selling properties in Dubai, was doubled from the long-standing 2% to 4%.

This increase has had far reaching repercussions in the market since its inception.

These immediate short-term effects were brutal. Many first-time buyers had to pull out of their mortgage transactions because they couldn’t afford the extra cash injection that was required.

The 2% increase of the property price meant a mortgaged buyer, based on a AED 3million property, had to find an additional AED 750,000 – which is in fact an additional 8% when calculated on the total cash input from the client.

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Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

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