Purchasing New/Off-plan Property At Crescent Homes we try to make the buying process of new property as simple and painless as possible. We are here to assist you in your purchase - our role is to oversee your purchase by sourcing suitable developments and introducing you to reputable legal and financial advisors. The following is a brief overview of the necessary steps involved in buying new property in Dubai.

Making the initial enquiry and receiving your property details Complete and submit the enquiry form. Once we receive your enquiry form you will be assigned a consultant who will assess your property requirements and, when you're ready, guide you through the buying process. Using the information you have provided, our consultant will compile the required property details and any specific information you request.

Visiting your prospective purchase Once you feel you are ready, you should contact our UK office and consider visiting your chosen developments and surrounding areas. In order to make your visit as productive as possible your consultant will help you to pinpoint your preferences and acquire all the information you need. If required we will be happy to assist you with your travel arrangements.

During your visit your consultant will accompany you to all the developments you are considering. Most developers run on-site offices which usually house the full architect plans and models, we'll also show you any building work underway or already completed and anything of interest in the locality.

Financial and legal issues If you wish to visit Dubai, prior to your arrival in, you should make sure that you have at your disposal sufficient funds to cover the reservation fee. Your consultant will advise as to how much this is for the properties you will be viewing, it is usually around 5000 dhms. Make sure you can transfer sufficient dirhams to cover the reservation fee, this limits any potential delays or foreign exchange complications. If required we can assist with arranging the banking facilities.

Property Plus devlopments have a few different payment plans in order to be flexible to the clients ability to pay, others developers may have their own payment plans, please ask your consultant.

Premiums may be payable on contracts as well as payments already made to developers from individuals or companies which are normally paid on purchase please ask your consultant on individual cases as sometimes they also incur a 2% fee.

Developers frequently have an arrangement with a bank to provide mortgages to its buyers but you will always have the option to arrange your own finance. We are able to introduce you to reputable mortgage brokers and lenders if you wish to explore alternative financing options.

For foreign nationals Dubai banks lend a maximum of 70% of the property value, as the Dubai market has just opened up most customers re-mortgage in their own countries to because of lower interest rates.

There is no Income tax or capital gains tax applied in Dubai

There is no stamp duty, legal fees or survey costs involved in buying freehold property in Dubai - apart from a 1.5% land registry fee on completion.

Property has only recently been open for purchase by non UAE Nationals and therefore many investors view there to be a huge potential for growth in the Dubai property market.

With the current level of exchange rate, the value for money in Dubai compared to many other global property prices is second to none.

Rental income from Dubai property is currently yielding around 10%