Buying Property in Ajman

Ajman, one of the seven emirates of the United Arab Emirates (UAE), has been gaining popularity as a destination for property investment. Known for its affordable real estate prices, beautiful beaches, and growing infrastructure, Ajman offers a unique opportunity for both residents and investors. This guide provides an overview of the key considerations when buying property in Ajman.

Why Buy Property in Ajman?

1. Affordable Prices: Compared to other emirates like Dubai and Abu Dhabi, property prices in Ajman are significantly lower, making it an attractive option for first-time buyers and investors.
2. Freehold Areas: Foreigners can buy property in designated freehold areas, allowing for full ownership rights.
3. Strategic Location: Ajman is centrally located, providing easy access to Dubai, Sharjah, and other parts of the UAE.
4. Growing Infrastructure: The emirate is witnessing rapid development with new residential, commercial, and recreational projects.
5. Tourism: Ajman is becoming a popular tourist destination, which can be beneficial for rental income.

Steps to Buying Property in Ajman

1. Research the Market: Understand the property market in Ajman, including prices, locations, and types of properties available.
2. Choose the Right Location: Consider factors such as proximity to amenities, schools, and transportation links when selecting a location.
3. Engage a Local Real Estate Agent: A knowledgeable agent can provide valuable insights and assist with the buying process.
4. Verify Property Ownership: Ensure the property has clear title deeds and is free from any legal issues.
5. Secure Financing: Explore mortgage options and get pre-approved for a loan if necessary.
6. Make an Offer: Once you find a suitable property, make a formal offer through your agent.
7. Complete the Purchase: After negotiations, finalize the sale by signing the contract and transferring ownership.

By following these steps, you can navigate the property buying process in Ajman with confidence.

What nobody tells you about Ajman and property

Real estate agents are dodgy

Not all, but many are. Be very careful who you deal with, and always verify ownership of the property you are looking at. Real estate agents are not regulated in Ajman, and many will try to take advantage of foreigners. Always insist on seeing the title deed, and if you are not sure, walk away.

First, find someone that speaks your language clearly. Make sure they understand what your are looking for, and what your budget is. If they try to show you something outside of that, just say no. Don’t be afraid to walk away from a deal if it doesn’t feel right.

Be wary

Properties that offer included transfer fees, or other incentives, are often hiding something. Always ask why the property is being sold, and if there are any issues with it. If the price seems too good to be true, it probably is. Free transfer fees usually means the property was registered under a developer, and transferring from a developer is free.

When a property is offered with transfer included, look for extra hidden costs as they are trying to make money quickly. Always ask for a breakdown of costs, and if you are not sure, walk away.

As an example, a property I really liked turned out to be super dodgy. Registration feeds included, but then, no electricity or water connection (I have to pay for that - more on this later), no AC units installed, no cupboards in any rooms… the list goes on. The property was being sold for a reason, and I walked away.

WARNING: No FEWA connection

DO NOT BUY A PROPERTY WITHOUT A FEWA CONNECTION. Can’t stress this enough. FEWA (Federal Electricity and Water Authority) is the government body that provides electricity and water in Ajman. If a property does not have a FEWA connection, you will have to pay for it yourself, which can be very expensive. Getting a FEWA connection can take months, and cost thousands of dirhams. Always ask if the property has a FEWA connection, and if not, how much it will cost to get one.

Conclusion

I’m still on this journey myself, but found a good real estate agent that speaks my language, and is honest. If you are looking for a good agent, feel free to reach out to me. I found a good property, that I can call home, but learned that it takes a long time to get FEWA - water and electricity - connected. Be patient, and do your research, and you will find a great property in Ajman.