The purchase of property on a freehold basis means that the property is registered in the owner’s name by way of a Title Deed registered in the Dubai Land Department. The owner has the right to sell, lease or rent his/her property at his/her discretion.
Areas for freehold properties are designated areas for expatriates, whereas non- freehold property is property limited to UAE Nationals and GCC Nationals.
Freehold properties were introduced here to encourage foreign investment in Dubai and the most popular freehold areas for expats to purchase property, include Dubai Marina, Emirates Hills, and Palm Jumeirah.
A valid passport.
Yes, any nationality can own freehold property in designated freehold areas in Dubai.
An off-plan property refers to a property whose construction is yet to begin or is in its preliminary stages of construction.
Following documents are required to purchase a property or off-plan property.
Total investment in real estate must be AED 1 million or higher.
Yes, anyone with proper source of income eligible to get the mortgage.
In traditional process, it takes approximately 93* days to complete the transaction.
The longer your property is on the market, the more money you lose. You’ll still have to pay your mortgage, maintenance charges, and utilities until the buyer officially closes.
PHOREE is changing century old method of selling properties; with PHOREE you can sell your property as quickly as seven days. Our Digital Auction service offers fourteen days process.
In the traditional method, the first step in deciding your property’s list price is to get a comparative market analysis (CMA).
You can do this yourself, but most people get their real estate agent to do it for them. Your agent will find similar properties in your neighborhood that have the same square footage, number of bedrooms, and number of bathrooms to estimate the price of the property. CMA is an outdated process, and it depends on human judgment.
PHOREE has introduced incredibly smart Valuation process which utilize data, market insight and AI.
You can negotiate commission with your traditional Real Estate Agent; however, we believe 2% commission is outrageously high given, this is the only industry still using the stone age matrix.
At PHOREE, if you use our digital services to buy a property, we charge an only AED10,000 success fee. Which saves you thousands if not millions in commission; especially if you are an investor.
Depends, however, in traditional sales after October is a better time to sell your property.
However, with PHOREE, it doesn’t matter. PHOREE offers an instant cash offer, which is the fastest way to sell your property in Dubai, United Arab Emirates. PHOREE is the first and only iBuyer company in the Middle East region.
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