The deposit is the number people plan around and it is not the number that decides whether you can buy. What matters is the total cash you need on day one, and the deposit is usually about three quarters of it.

The deposit itself

Buying with a mortgage as a resident, expect to put down a meaningful percentage of the purchase price from your own funds, and more if you are a non resident or the property is above a certain value. Banks differ and the rules have changed over time, so treat any percentage you read as a starting point and get a pre approval in writing before you offer on anything.

Buying off-plan, the equivalent is the developer’s booking amount, which is generally far lower. That is the main attraction of off-plan and it is also why people over commit: the entry cost is not the total cost.

What else you need on day one

The Dubai Land Department transfer fee, 4 per cent of the purchase price. This is the big one and it is not financed.
Registration and trustee office fees.
Agency commission, typically 2 per cent.
Mortgage arrangement fee and valuation, if you are borrowing.
Mortgage registration with the Land Department.
A survey, which is not compulsory and which we would push you to do on anything older or larger.

Added together, the costs beyond the deposit commonly come to around 6 to 8 per cent of the purchase price. On a two million dirham apartment that is well over a hundred thousand dirhams that does not appear in any advertisement.

And then, shortly after

A service charge advance, often a full quarter or year up front.
DEWA and cooling deposits.
Furnishing, if the property is unfurnished, which most sale stock is.

The honest test

Can you pay the deposit, the fees and the first year of service charges, and still have a reserve? If the answer is only just, buy something cheaper. The most common mistake we see is not overpaying for a property, it is buying the right property with nothing left over.

Tell us your available cash rather than your target price, and we will work backwards to what you can actually buy. Also useful: the 4 per cent transfer fee explained.