Dubai, No Plans to Increase for New Property Registration Fee

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Last December 3, a rumor aroused in the Emirates of Dubai that the government hasDubai, No Plans to Increase for New Property Registration Fee plans to increase new property registration fees after they were raised twice the amount in October in an attempt to restrain conjecture.
The Land Department officer reacted to the rumors stock market that the payment would increase in February almost by fifty percent. In October, the government agency raised twice the value of fees to four from two percent in an attempt to avoid speculation brought by what the paper illustrated as “quick low-profit deals.”
Dubai government formally announced that “there are no plans to increase in fees in the next period of registration.”
Property registration in Dubai is still one of the lowest in the world. It ranges between 4 and fifteen percent in Britain, 5.8 percent in Japan, six percent in France, 5 to 15 percent in Malaysia and average nine percent in the Middle East.