In the United Arab Emirates (UAE), real estate law is governed by a number of federal legislation as well as regulations issued by specific emirates.
The following are the key federal laws that govern real estate:
● Federal Law No. 27 of 2006 on Real Property Registration. This law governs the registration of real estate in the UAE.
● Federal Law No. 7 of 2006 on the Regulation of Foreign Ownership of Immovable Property. This law covers foreigners’ ownership of real estate in the UAE.
● Mortgage of Immovable Property, Federal Law No. 13 of 2008. This law governs the mortgage of real estate in the UAE.
Individual emirates may also have their own real estate laws. The Dubai Land Department Law No. 15 of 2008 governs the registration of real estate in Dubai. The UAE real estate market is extremely competitive. In the UAE, there are several real estate developers and agencies.
Before purchasing or selling real estate in the UAE, it is critical to conduct thorough research. You should obtain quotations from several different agents and developers and also be aware of the hazards associated with purchasing or selling real estate in the UAE.
The real estate market may be unpredictable, with large price fluctuations.
