It is true that the Dubai property market is infested with unauthorized agents. Buyers should thoroughly check if the agent is registered with a real estate organization. These factors may put off wary buyers from buying property in Dubai altogether. However armed with a few guidelines and pointers even the first time buyers can seal a lucrative and profitable deal.

In spite of sceptics, a hesitant buying graph is demonstrated on the Dubai real estate market. Prices have lowered by a huge margin in the current Dubai real estate scenario. Most long time investors have realised that the prices are at an all time low and are eager to take advantage of the situation. However, the sellers are have also realised this and are not that eager to sell. This has led to a very haphazard pattern in the property market in Dubai.

The first and foremost step in buying a property is to connect to an established and reliable real estate agency. You would also be better armed if you choose an agency which specialises in a specific field than which caters to all clientele. Some may specialise in the business district or some may cater to the residential projects.

It is helpful if you have a clear agenda in mind of the space, location and budget that you are willing to bear for the property. Be honest and state these clearly to your agent. Double check your budget to see if it covers all the service charges and hidden costs. In their zeal over buying a house in Dubai, most new buyers tend to overlook hidden clauses in the service charge. It is not advisable overlooking many properties trying to find the right one, as most good deals are immediately snapped up. Once you find the right property for you it would be advisable to visit it at different times of the day and week. This would help you to rightly grasp the pulse of the neighbourhood.

Currently Dubai has no VAT tax and as such there is no VAT charge on any transaction.

However a transfer fees charge is obligatory depending upon the nature of the deal and the quoted selling price. This charge is obligatory to the seller and buyer equally. The property tax depend on whether you plan to rent you your property or residing there yourself. Income derived from renting a property in Dubai by a non-resident is exempt from taxes. The non-resident however has an obligation to declare the income in his own country and pay appropriate taxes. It is advisable to be familiar with all the obligatory taxes and property taxes before buying a property in Dubai.

The relaxed and liberal atmosphere of Dubai is ideal for overseas investors. In fact most of Dubai's population consists of expatriates. It is a city that lives on the motto of 'Live and Let Live.' The current real estate scenario in Dubai is extremely conducive for buying property in Dubai. By booking a flight to Dubai and accommodating in the available hotels in Dubai city you gain first hand experience of the character of Dubai in which you wish to buy a property.

Proper enquiries and adequate research is the foundation for buying property / real estate in the emirate of Dubai. The sliding property market is opening new avenues for investors who will find it much easier to find their dream home.