Register | Forgot password?
Switch to Arabic
Sunday, November 29 - 2009

New law aims to curb 'flip' sales

  • United Arab Emirates: Tuesday, August 26 - 2008 at 10:48

Dubai has issued a new law requiring home buyers to register their purchases before reselling them. The new law requires purchases of even uncompleted apartments and villas bought 'off plan' to be registered with the department first before they can be passed on to a new buyer. The move is seen as an attempt to prevent speculators from 'flipping' the ownership of an uncompleted home soon after making the purchase. The practice has fuelled rapid inflation in property prices.

Also consider reading:

Disclaimer:

The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.

AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.

In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.