What does Freehold Property mean in Dubai

The real estate market in Dubai has gained immense popularity in recent times. The introduction of freehold properties in 2002 was a turning point for the UAE’s real estate sector, opening doors for investors worldwide.

These properties provide a luxurious lifestyle and give investors a sense of ownership and pride. This article aims to explore what freehold property means in Dubai and why it’s such a sought-after investment opportunity. 

Beginning of Freehold Properties in Dubai

In years past, expatriates in Dubai needed to expand their real estate investment opportunities. With property ownership restrictions in place, the vast majority of expats, approximately 70%, could only select 99-year leasehold properties within specific city sectors. However, in 2002, the Freehold Decree altered the game completely.

This historic decree allowed foreign nationals as young as 21 to purchase, sell, lease, and rent properties in specially designated areas throughout Dubai. This groundbreaking moment paved the way for a real estate revolution in the region. 

Understanding Freehold Properties

A freehold property in Dubai grants the buyer complete ownership of both the property and the land on which it is located. This means that the buyer holds total control over their investment, which is a highly appealing prospect for those looking to invest in Dubai’s property market.

The availability of freehold properties to UAE citizens and non-citizens makes them the perfect choice for expatriates seeking to make wise investments in Dubai’s thriving real estate market.

Advantages of Purchasing Freehold Properties in Dubai

Investing in a freehold property offers a myriad of advantages:

1. Property Inheritance: Freehold properties have no limitations, unlike leasehold properties with a fixed lease period. This means that your investment can be passed down to your legitimate heirs, ensuring that it remains within the family for generations to come.

2. Freedom of Choice: Another advantage of owning a freehold property is the flexibility it provides. As the owner, you have the freedom to choose whether to sell, lease, or occupy the property. This adaptability allows you to maximize your investment and reap the benefits of your ownership.

3. Visa Benefits: Owning a freehold property can also provide significant visa advantages. If certain criteria are met, you and your family could be eligible for renewable UAE residence visas, which is a significant advantage for expat investors.

Furthermore, with the introduction of long-term residency visas, freehold property owners can now apply for 5- and 10-year visas, making it an excellent opportunity to secure their spot in Dubai. 

4. Diverse Property Options: Dubai offers a diverse range of freehold property options in various zones to suit a wide variety of budgets and needs. Whether you’re in the market for a townhouse, apartment, or villa, you’ll have plenty of options to choose from.

Renowned areas such as The Springs, JBR, Downtown Dubai, and Jumeirah Village Circle (JVC) are just a few examples of the many appealing investment opportunities available. Additionally, previously non-freehold areas such as City Walk and La Mer have been transformed into freehold property hotspots, expanding the range of options available to potential buyers.

Is Investing in Freehold Property in the UAE Right for You?

Investing in freehold property in the UAE is an opportunity to be noticed. The government’s efforts to reduce rules and regulations, particularly in preparation for World Expo 2020, make this an excellent time to invest. The UAE offers an exceptional investment landscape at the crossroads of nearly 4 billion global citizens. 

The UAE is a beacon of prosperity in a world full of opportunities, providing real estate and a life of experiences, luxury, and growth. If you’ve ever wanted to own a piece of a thriving oasis, now is the perfect time.

The UAE is calling, promising a limitless future. Choose Kelt&CO for the pinnacle of luxury real estate and rental property expertise. We will redefine your real estate experience with their unwavering attention to detail and exceptional customer service.

Your golden opportunity awaits in the heart of Dubai’s freehold property market.

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