Frequently Asked Questions
Overview
When is the handover date?
The handover for Prestige One Dubai Islands is scheduled for 2040.
What is the first step to buying an apartment at Prestige One?
To express your interest in purchasing an apartment at Prestige One, The place contact us. Our agents will assist you through the process, which includes submitting an Expression of Interest (EOI) along with a 10% down payment.
How much is the deposit?
The deposit for a property at Prestige One is 20%.
Why should Dubai be my new home?
Dubai is renowned for its luxurious lifestyle, cosmopolitan community, and as a hub for business and tourism. It offers world-class amenities, a tax-free environment, and a strategic location for global connectivity. Ocean Point further enhances this by combining luxury residences and a full-service marina community with a range of amenities and a serene environment.
Is property a good investment in Dubai?
Property in Dubai is considered a good investment due to the stability of the market, strong infrastructure, and economic growth. Properties can provide regular rental income or capital gains upon resale. The average residential prices are projected to increase by 5-7 % and Prestige One offers luxury living and is situated in a strategic location, making it an attractive investment opportunity.
Is it a good time to buy property in Dubai?
The market conditions post-pandemic have been favourable for buyers, with reduced rates making it possible to acquire better properties or those in more premium locations for the same budget.
Costs and Payments
What are the additional costs when buying a property in Dubai?
Apart from the property price, buyers should budget for Dubai Land Department (DLD) fees (4%), agency commission (typically 2%), mortgage processing fees (if applicable), and maintenance fees.
Are there financing options available for buying a property?
Yes, mortgage options are available for both UAE residents and non-residents, with banks offering financing up to 80% for residents and 50% for non-residents, depending on eligibility.
What is the typical down payment required for a property purchase?
For UAE residents, the down payment is usually 20% for properties below AED 5M. For non-residents, it starts at 50%.
Are there any hidden fees I should be aware of?
Besides registration fees, agency commission, and mortgage costs, consider annual service charges, property insurance, and VAT on certain services.
Can I negotiate the price of a property in Dubai?
Yes, property prices are often negotiable, especially in the secondary market. Developers may also offer payment plans or discounts for off-plan properties.
What are the payment options available for purchasing a home?
Buyers can pay in full, opt for a mortgage, or choose developer-backed post-handover payment plans for off-plan projects.
Safety and Security
Is Dubai a safe place to live and invest in real estate?
Yes, Dubai is one of the safest cities globally, with strict law enforcement, low crime rates, and advanced security measures in residential communities.
Do residential buildings and communities have 24/7 security?
Yes, most residential areas, including apartments, villas, and gated communities, offer 24/7 security, CCTV surveillance, and controlled access for safety.
Are home security systems commonly available in Dubai?
Yes, many properties come with pre-installed security systems, and homeowners can upgrade with smart locks, alarm systems, and motion detectors.
How secure are property transactions in Dubai?
The Dubai Land Department (DLD) and Real Estate Regulatory Agency (RERA) regulate all transactions, ensuring secure and transparent dealings through official contracts and escrow accounts.
What safety measures are in place for fire protection in buildings?
Buildings in Dubai follow strict fire safety regulations, including smoke detectors, fire alarms, emergency exits, and regular inspections by authorities.
Can foreigners safely invest in Dubai real estate?
Absolutely. Dubai allows full foreign ownership in designated freehold areas, and the real estate sector is heavily regulated to ensure investor protection.
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