If you are looking for a secure investment with a high return or wish to experience a luxurious and dream-like lifestyle, buying a penthouse in Dubai is the best option for you. You can purchase various types of penthouses and townhouses with unique and unparalleled amenities in different areas, including Jumeirah, Downtown, and more. To do this, you first need to prepare the necessary documents, such as a valid passport, financial statements, and a sales and purchase agreement. Then, by consulting a reputable and experienced real estate agency, you can proceed with the steps of purchasing a penthouse. For information on prices and to receive expert advice on buying a penthouse in Dubai, contact our consultants at Dubivo right now.
Note: To ensure you find the best penthouse for your budget and navigate the legal process smoothly, it is essential to work with a reputable and experienced real estate agency. Therefore, for pricing information and specialized consultation, contact our advisors now.
Buying a Penthouse in Dubai with Dubivo
Today, Dubai, as an economic and cultural hub in the Middle East and the world, is the best city for purchasing property for investment and experiencing a luxury lifestyle. With Dubivo real estate consultants, you can experience a variety of stylish and luxurious apartments and penthouses in Dubai at a reasonable cost. Our consultants will also suggest the best options by reviewing your budget and needs and will be with you throughout the legal stages of buying property in Dubai.
Prices of Penthouses in Dubai
The price of property in Dubai depends on various factors, including the developer, location, size, amenities, and more. For example, penthouses in Jumeirah with a sea view cost two to three times more than other properties in the area. Additionally, if your penthouse has more floors or boasts special features like a private pool, cinema, or gym, the cost can increase to over 250 million AED.
Advantages of Buying Property and a Penthouse in Dubai
According to statistics from the Dubai Land Department (DLD), the purchase of villas and penthouses has seen significant growth in the last two years, with the number of transactions exceeding 50,000 properties last year. Consequently, the value of each penthouse unit has increased by 30%. But what makes buying a penthouse in Dubai so popular?
- 8% to 10% profit in USD if you rent out the penthouse.
- Opportunity for employment in Dubai with the purchase of a penthouse.
- No requirement to pay taxes.
- Possibility to obtain the UAE Golden Visa.
- Easy travel and proximity of Dubai to Iran.
- Obtaining Dubai residency by purchasing a penthouse.
- Secure investment by buying a penthouse in Dubai.
- Enjoying a luxurious lifestyle.
- Entering global trade by purchasing property in Dubai.
- A wide variety of real estate options in Dubai at different prices.
- Enjoying beautiful city or sea views from a high altitude.
- Advanced amenities in Dubai's penthouses.
Required Documents for Buying a Penthouse in Dubai, UAE
If you intend to buy a penthouse in Dubai, you must first prepare the necessary identification, financial, and other documents. The most important documents required for purchasing property in Dubai include:
(ID Documents for Penthouse Purchase)
- Valid passport with at least 6 months of validity for both buyer and seller.
- Emirates ID for residents of the country.
- UAE residence visa for non-residents.
(Property-Related Documents)
- Title Deed.
- Sales and Purchase Agreement (SPA).
- No Objection Certificate (NOC).
(Financial Documents for Penthouse Purchase in Dubai)
- Proof of financial capacity.
- Payment documents and mortgage approval if applicable.
- Receipt of registration fee payment to the Dubai Land Department.
- Documents for title transfer payment.
- Payment for brokerage service fees.
- Certificate of no debt from the owner.
Steps to Buying a Penthouse in Dubai
If you plan to buy a penthouse in Dubai, follow these steps carefully to make the best choice in the shortest time and avoid legal issues:
- Determine Your Budget: Each penthouse in Dubai has a different price based on its geographical location and amenities; therefore, the first step is to determine your budget.
- Select a Property Based on Your Needs: First, specify your needs and desires for a penthouse, such as the number of rooms, size, location, special features, etc., and then identify and select qualifying penthouses.
- Inspect and Visit in Person: At this stage, you can coordinate with our real estate consultants at Dubivo to visit the penthouse in person, check its condition, design, amenities, and other aspects to make the best choice.
- Review Legal Documents: After choosing a penthouse, you must carefully review the title deeds, lease agreements, legal documents, etc., and ensure their validity. Dubivo real estate consultants are here to assist you for greater assurance and to prevent legal problems.
- Initial Price Negotiations: After selecting the property and verifying its legal status, initial talks to agree on the price will take place. Some sellers are flexible on price, and you may be able to get more amenities for a reasonable price through negotiation.
- Drafting the Memorandum of Understanding (MOU): After initial agreements, an MOU is written between the owner and the buyer, which includes details like purchase conditions, property price, payment schedule, etc. At this stage, a 10% deposit of the penthouse price must be paid.
- Obtaining a Mortgage if Needed: If you face challenges in paying the price of the penthouse in Dubai, you can obtain a mortgage from reputable banks and institutions. These institutions usually provide up to 75% of the home's cost as a loan to foreign buyers.
- Ownership Transfer at the Dubai Land Department (DLD): At this stage, the buyer must go to the Dubai Land Department (DLD) and finalize the purchase by paying the transfer fees, which are typically 4% of the property's cost.
- Finalizing the Contract and Handover: In this final step, after the final payment is made and legal procedures are completed, the penthouse, along with its title deed and keys, is handed over to you, making you the legal owner.
- Paying Ancillary Costs: Keep in mind that after purchasing a penthouse in Dubai, you must also pay for ancillary costs such as annual duties, maintenance fees, services, etc.
Types of Penthouses in Dubai
Penthouses in Dubai can be classified into the following different categories based on their features, such as the number of floors, rooms, amenities, or even location and design:
| Type of Penthouse in Dubai | Features | Price Range (AED) |
|---|---|---|
| Beachfront Penthouses | Private beaches, large terraces, rooftop pools. | 15 million to 100 million |
| City Penthouses | Beautiful city skyline views, easy access to business, entertainment, and shopping centers. | 10 million to 180 million |
| Single-Floor Penthouses | Large interior space, high ceilings, large floor-to-ceiling windows. | From 1 million upwards |
| Duplex Penthouses | A villa in the sky, separate living and bedroom spaces, often with a roof garden and private pool. | 10 million to 30 million |
| Triplex Penthouses | The ultimate in luxury and beauty, private elevators, private cinemas, separate gyms, etc. | 30 million to over 200 million |
| Furnished Penthouses | Ready to move in, no need for decoration or buying furniture. | 20-30% more than property cost |
| Unfurnished Penthouses | More freedom for the buyer to design the penthouse according to their own taste. | Base property cost |
| Serviced Penthouses | Luxurious and carefree living with various services like concierge, housekeeping, etc. | 5.5 million to over 30 million |
Obtaining a Residence Visa by Buying a Penthouse
After the ownership transfer at the Dubai Land Department, if your chosen property is worth more than 750,000 AED, you can apply for a residence visa in the city. The duration of your visa varies depending on the property's price and is renewable.
Important Tips for Buying a Penthouse in Dubai
To get the best features for your budget when choosing a penthouse in Dubai, pay attention to the following points during the purchase:
- Easy access to shopping centers, restaurants, and recreational facilities.
- Convenient access to schools, hospitals, main roads, etc.
- A stylish and beautiful facade of the building or tower.
- Checking the reputation and history of the project developer.
- Evaluating the return on investment and income potential of your chosen penthouse.
- Considering the build quality and overall standards.
Luxury and Advanced Amenities of Dubai Penthouses
Penthouses, usually built on the top floors of towers, provide a special life away from the hustle and bustle of the city by offering unique amenities. These amenities vary depending on the project, but the most important and prominent ones include:
- Viewing the city from the highest point and seeing unparalleled scenery.
- Having a roof garden and large, private terraces for hosting parties or relaxing.
- Offering large and clean swimming pools.
- Equipped with advanced fitness centers with ventilation and lighting technology.
- Use of the best materials for modern interior design.
- Having private parking.
- Using an advanced security system and 24-hour surveillance.
- Providing various services such as restaurants, shops, beauty salons, etc.
- Having a spacious interior.
- Large and advanced kitchens with the highest quality appliances.
- Smart systems to control temperature, sound, security, etc.
Best Areas to Buy a Penthouse in Dubai
One of the most important factors affecting the value of your chosen penthouse is its location. Today, Dubai has many tall and luxurious towers where you can find your desired penthouse. However, if you want to invest as well as experience a luxurious life by buying a penthouse in Dubai, choose your property from the following areas.
1. Palm Jumeirah
One of the best places in Dubai to buy a penthouse with luxurious and modern facilities and a special sea view is Palm Jumeirah. This area, with its island lifestyle and luxury amenities such as private beaches, a marina for boating, and high-end restaurants like Michelin-starred ones, is the best geographical location for buying a penthouse, where you can find properties from 15 million to 250 million AED.
2. Dubai Marina
The best area for young people who are interested in a vibrant yet luxurious lifestyle is Dubai Marina. As one of Dubai's most popular areas, with its many towers of all sizes, it offers the possibility of buying a penthouse from 8 million to 50 million AED. Also, with its numerous swimming pools, well-equipped and advanced gyms, and waterfront pedestrian paths, it is the best choice for fans of modern waterside living.
3. Downtown Dubai
Downtown Dubai, with its luxurious and iconic towers such as the Burj Khalifa and The Dubai Mall, is known as the cultural and recreational heart of the city. Penthouses in this area are priced from 20 million to 80 million AED and are the best choice for those looking for a good investment with high appreciation value.
4. Jumeirah Lake Towers (JLT)
Jumeirah Lake Towers, with its reasonable prices and easy access to the metro, is the best choice for those intending to buy a penthouse. This area, with its green parks, artificial lake, and family-friendly environment, provides tranquility alongside urban accessibility.
Frequently Asked Questions about Buying a Penthouse in Dubai
Which are the best penthouses in Dubai?
The penthouses in Burj Khalifa, Palm Jumeirah, and Dubai Marina are the best and most famous penthouses in Dubai.
Can non-residents buy a penthouse in Dubai?
Yes, people who are not residents of Dubai can buy penthouses in designated freehold areas.
What is the price of buying a penthouse in Dubai?
Penthouses in Dubai start from 1.5 million AED and can go up to over 250 million AED, depending on their location and amenities.