All posts tagged off-plan properties

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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