All posts tagged off-plan

Three years on from Dubai’s Land Registration fee hike


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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