Freehold Investments
Freehold Properties
Dubai, the second-largest territory of the United Arab Emirates, is becoming increasingly popular with foreigners when it comes to real estate investment. The standard of living, cosmopolitan culture, and subtropical climate are just some of the additional features that make this part of the world one of the most popular destinations for tourists and investors. Recently, the city has become a hot spot in the international real estate market due to its mega developments, large-scale construction projects, and phenomenal architecture.
What exactly is a Freehold Property?
When you buy a freehold property, you (the buyer) are the complete owner of both the unit you are buying and the land on which it is built.
Freehold property in the UAE can be sold, rented, or occupied at the will of the owner. If the owner passes away, his heir can inherit the property to ensure that it remains in the same family.
This is different from buying a leasehold property, where a potential buyer purchases the right to occupy a property from an owner for 99 years (or less). This form of real estate ownership only grants the buyer rights to the unit, not the land on which it is built. But when it comes to condominium ownership, the owner has much more control. Foreign nationals and ex-pats are allowed to purchase real estate in designated freehold areas. These freehold areas in Dubai consist of over 47 neighborhoods.
