Yes buyers can own 100% properties in the investment area like Al Reem Island, Al Saadiyat Island, Yas Island, Al Raha Beach, Al Hudairiyat By Modon, Ramhan Island, more areas and more… you can also get last updates by contacting ADM Muncibility or Contact us.

Renting Property in Abu Dhabi

1. Rent:

   • Monthly Rent: AED 50,000 to AED 150,000 per year for a 1-2 bedroom apartment in central areas like Al Reem Island or Al Raha Beach.
   • Annual Rent: Often paid in advance, sometimes in 1-2 payments.

2. Upfront Costs:

   • Security Deposit: Usually 5% of annual rent (refundable at lease end if no damages).
   • Agency Fees: Around 5% of the annual rent (one-time fee).

3. Additional Costs:

   • Utilities: Typically AED 500 to AED 1,000 per month for electricity, water, and cooling.
   • Internet: Approximately AED 300 to AED 500 per month.

Buying Property in Abu Dhabi

Typical Costs:

1. Property Price:

   • 1-Bedroom Apartment: AED 600,000 to AED 1,200,000.
   • 2-Bedroom Apartment: AED 1,000,000 to AED 2,000,000.
   • 3-Bedroom Apartment: AED 1,500,000 to AED 3,000,000 or more.

2. Upfront Costs:

   • Down Payment: 15% to 20% of the property price.
     • Example: For a AED 1,000,000 property, the down payment would be AED 200,000 to AED 300,000.
   • Registration Fees: Approximately 2% of the property price.
     • Example: AED 20,000 for a AED 1,000,000 property.
   • Real Estate Agency Fees: Typically 2% of the property price.
     • Example: AED 20,000 for a AED 1,000,000 property.

3. Ongoing Costs:

   • Maintenance Fees: AED 10 to AED 15 per square foot annually.
     • Example: For a 1,000 square foot apartment, annual fees would be AED 10,000 to AED 15,000.
   • Property Taxes: Generally not applicable, 
   • Utilities: Approximately AED 500 to AED 1,000 per month, similar to rental costs.

Financing and Mortgages

**1. Mortgage Rates:

• Interest Rates: Generally range from 2.5% to 5% annually, depending on the bank and borrower’s profile.

2. Loan-to-Value Ratio:

   • Banks typically offer up to 80% of the property value for expatriates, which means a down payment of 20%.

3. Mortgage Example:

   • Property Value: AED 1,000,000.
   • Down Payment: AED 200,000 (20%).
   • Mortgage Amount: AED 800,000.
   • Monthly Payment (Approximate): For a 25-year term at a 4% interest rate, around AED 4,200 to AED 4,500 per month.

Summary

• Renting:

  • Annual Rent: AED 50,000 – AED 150,000.
  • Upfront Costs: Security deposit + agency fee.
  • Monthly Utilities: AED 800 – AED 1,500.

• Buying:

  • Property Price: AED 600,000 – AED 3,000,000+.
  • Upfront Costs: 20% – 30% down payment, plus registration, legal, and agency fees.
  • Monthly Mortgage Payment: AED 4,200 – AED 4,500 for a AED 1,000,000 property.
  • Ongoing Costs: Maintenance fees, utilities, and potential community fees.

• Eligibility: Expats can own property in designated freehold areas; UAE nationals can buy anywhere.
• Financials: 15-20% down payment, mortgage up to 80% LTV for expatriates.
• Documentation: Passport, Emirates ID, proof of income, purchase agreement.
• Fees: Registration (2% of property value), agency (2%).
• Non residents: Can own in Abu Dhabi also Contact us to know more…

• Eligibility: Expats can own property in designated freehold areas; UAE nationals can buy anywhere.
• Financials: 20-30% down payment, mortgage up to 80% LTV for expatriates.
• Documentation: Passport, Emirates ID, proof of income, purchase agreement.
• Fees: Registration (4% of property value), agency (2%), legal (1%).

In April 2019, an amendment was made to the Abu Dhabi Real Estate law which allows foreigners to own real estate properties in Abu Dhabi investment areas.  UAE Law 

• Determine Eligibility:

  • Residency: Expatriates need a UAE residence visa; non-residents may also qualify but face stricter terms.
  • Credit & Income: Good credit history and proof of stable income are essential.

• Assess Financials:

  • Budget: Calculate how much you can afford to borrow.
  • Down Payment: Typically 15-20% for expatriates, 30-40% for non-residents.
  • Loan-to-Value Ratio: Up to 80% for expatriates.

• Gather Documents:

  • Passport, Emirates ID, proof of income, credit report, and property details.

• Get Pre-Approval:

  • Apply for pre-approval to determine your borrowing capacity before house hunting.

• Find a Property:

  • Search for a property, make an offer, and sign a Sale and Purchase Agreement (MOU).

• Complete Mortgage Application:

  • Submit the MOU, property details, and additional documents to the bank.
  • The bank will conduct a property valuation and legal checks.

• Approval & Disbursement:

  • Once approved, sign the mortgage agreement. The bank disburses the loan amount to the seller.

• Post-Approval:

  • Register the property with the Department of Municipalities and Transport (ADM).
  • Obtain property insurance and start making monthly mortgage payments.