The net price mentioned on listings is typically not the final price you’ll end up paying for the property. As with pretty much everything, it’s more expensive than it seems. While a seasoned investor is accustomed to these terms and fees, if you are a first-time buyer, we’ll walk you through everything you need to know.Dubai Land Department
The DLD requires a transfer fee of 4% of the sale price.
The knowledge fee is 580 DHS for apartments/villas/offices, 40 DHS for off-plan properties, DHS 430 for plots, and 40 DHS for off-plan properties. Mortgage Registration Fee of 290 DHS and 0.25% of the loan total. A Registration Trustee Appointment fee costs 4,000 DHS when it\'s a title deed transfer and 5,000 if off-plan property transfers. Please note this must be paid in cash.
Property Developer
Property developers in Dubai are required to sign a No Objection Certificate fee. This includes a fee that ranges from 500 to 5000 DHS depending on the developer.
Utilities - Dubai Electricity and Water Authority
Apartments/Offices require a 2,000 DHS refundable deposit, a 100 DHS reconnection charge (may vary depending on the number of meters installed), and a 30 DHS knowledge/innovation fee.Villas require a 4,000 DHS refundable deposit, a 100 DHS reconnection charge (may vary depending on the number of meters installed), and a 30 DHS knowledge/innovation fee.
Utilities - Empower
The first owner\'s connection fee is 2,000 DHS and an administration fee of 1,000 DHS. Apartments are subject to a 2,000 DHS refundable security deposit and roughly a 500 DHS advance. Offices incur a 4,000 DHS refundable security deposit, and around 500 DHS advance.
Utilities - ISTA, City Walk
The connection fee is 200 DHS. The refundable security deposits vary from 1,500 DHS for a studio/ 1 bedroom, 2,000 DHS for a 2 bedroom, 3,000 DHS for 3 bedroom, 3,500 DHS for a 4 bedroom.
*Note that all of the above security deposits are refundable once the property is resold, they are just placeholders for the utility company.
All of this does not include the broker fee, moving costs, decorating, landscaping, and maintenance. Hofstadter\'s law on optimism bias states that it always takes longer, and is more expensive than you can ever comprehend. All of these costs might be discouraging but as withe very big milestone in life, having children, starting a business as long as you are generally informed you can figure it out as it comes.