How to Request Property Valuation in Dubai?

Property valuation in Dubai is crucial for anyone involved in buying, selling, leasing, or managing real estate. This professional evaluation determines your property's market value by considering location, size, condition, and current market conditions. Here’s a detailed overview covering the complete process, documentation, fees, and methods to request property valuation in Dubai.

Understanding Property Valuation in Dubai

Property valuation in Dubai involves comprehensive assessments by certified professionals who comply with the Dubai Land Department (DLD) standards. Accurate valuation ensures you can confidently determine the correct market price, estimate future property value, understand mortgage possibilities, and evaluate applicable taxes.

Required Documents for Property Valuation in Dubai

The documents needed depend on the type of property:

General Requirements

• Property valuation request form
• Letter from the property owner
• Owner’s Emirates ID or passport copy
• Municipality or planning map

Additional Documents by Property Type

Vacant Land:

• No Objection Certificate (NOC) from the main developer or bank
• Purchase or sales agreement

Residential Villas or Buildings:

• Documentation showing built-up construction area
• Comprehensive list of units or villas
• Expense reports for the last three years
• Ejari tenancy contracts for each unit

Hotel Properties:

• Documentation of built-up construction area
• Room rental values and details of facilities, halls, and restaurants
• Certified financial statements detailing net profits over the past three years
• Hotel management agreement
• Tax documentation from Dubai Municipality

How to Request Property Valuation

There are two convenient methods to request a property valuation in Dubai, catering to both digital-savvy users and those who prefer face-to-face interactions:

1. Via Real Estate Service Trustee Centres

• Visit your nearest service trustee office
• Submit the complete set of required documents
• Pay applicable valuation fees
• Receive your valuation certificate via email within 1-8 working days

2. Through Dubai REST App

• Create or log in to your account on the Dubai REST app (available for Android and iOS)
• Select the 'Property Valuation' option
• Fill out the online form and upload all necessary documents
• Complete fee payment through the app
• Receive the valuation certificate via email upon approval

Fees for Property Valuation in Dubai

The property valuation fee in Dubai varies significantly according to property type and complexity. Here’s a breakdown:

• Residential Vacant Land: AED 2,000
• Major Real Estate Project Land: AED 10,000
• Residential Apartment or Villa: AED 4,000
• Hotel Building with Land: AED 15,000

Additional fees include partner service charges (AED 180 to AED 530 plus VAT), AED 10 knowledge fee, and AED 10 innovation fee. Payments can be made via cash, credit/debit cards, or ePay.

Benefits of Conducting Property Valuation

Property valuation provides numerous advantages that are essential in navigating Dubai's dynamic real estate market. It ensures accurate market pricing, allowing sellers to list properties at competitive rates and buyers to invest confidently. Transparency in transactions is enhanced, reducing potential disputes and misunderstandings.

Furthermore, it supports informed decision-making by providing a clear insight into potential investment returns and rental income forecasts. An accurate valuation significantly facilitates mortgage approvals, as financial institutions rely heavily on these valuations to determine loan amounts. Lastly, it aids significantly in legal documentation processes and ensures smooth and efficient real estate operations overall.