February 8, 2025

Is it a good idea to flip property in the current market conditions?

Question: What are your thoughts on purchasing a property for Dh1 million ($272,260) with the expectation of reselling it for between Dh1.2 million and Dh1.5 million? A developer launching multiple properties in the same area would increase supply, making more units available. Why should I buy now? If the argument is that the same developer may raise prices to Dh1.5 million or Dh1.7 million in a few...

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Property buyers to pay higher upfront as banks stop financing DLD, brokerage fees

Starting next week, property buyers who opt for a mortgage will need to pay the Dubai Land Department (DLD) fee and the brokerage fee upfront. Real estate industry experts noted that banks had previously covered these costs—DLD’s four per cent fee and brokers’ two per cent commission—within the total mortgage. As of February 1, 2025, UAE banks will no longer finance the DLD fee and brokerage...

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