Dubai: how to buy property online and with crypto

Just two decades ago, few could have imagined Dubai transforming into a true global financial hub and one of the most coveted destinations for real estate investment. Today, this is the reality in which millions live. Dubai has evolved into a vibrant metropolis, attracting residents from every corner of the world, while its real estate market grows at lightning speed.

Properties here are purchased not only for living but also as a means to generate income or preserve capital, with average rental yields ranging between 5–10% per year. Increasingly, investors are exploring remote purchasing options – including transactions with cryptocurrency.

Maxim Selyuk, COO of the Dubadu video real estate platform, shares an insider’s perspective on how this all works.

Leaving the ‘Grey List’ behind

On February 23, 2024, the Financial Action Task Force (FATF) officially removed the United Arab Emirates (UAE) from its so-called “grey list.” The FATF’s grey list included countries that, while actively improving legislation, had not yet fully met international standards for anti-money laundering and counter-terrorism financing.

Being removed from this list was an international acknowledgment that the UAE has successfully reformed its financial system and legal framework. The move opened doors to new investments – including real estate – while reducing scrutiny from banks and regulators.

Buying property online – yes, it’s possible

Not everyone can travel to Dubai in person to sign a purchase agreement. In the age of digital solutions, this is no longer a barrier. Since 2020, Dubai Land Department (DLD) has officially allowed remote property purchases, primarily catering to foreign investors – after all, Dubai is the true capital for expats.

It’s important to note: buying property directly from an owner isn’t possible. All transactions must go through licensed agencies or major developers. In the latter case, the paperwork is handled via an in-house sales department or authorized broker.

The process typically works like this:

• A real estate agent selects suitable properties for the client, which may take from a week to several months.
• The agency sends a full documentation package, including the purchase agreement, payment plan, and terms.
• Virtual tours and additional photos are provided, all accessible online.
• A Power of Attorney is arranged so documents can be signed remotely by an agent or lawyer.
• The agreement is signed electronically, with the full amount stated in AED (Dirhams).

For investment properties, once keys are handed over, the agency can organize professional photos and videos, list the property for rent or sale, handle negotiations, schedule viewings, and manage all documentation. Essentially, the entire journey – from selection to profit – can be completed entirely remotely.

One acquaintance even purchased a fully furnished one-bedroom apartment entirely online for rental purposes. The total cost was around €170,000, and rental income can reach $1,500–$1,600 per month.

How Dubadu makes it easier

The process becomes even faster and more convenient with Dubadu, the video real estate platform where I work. The key advantage: you can browse properties online before even contacting a broker.

With thousands of listings available, you don’t have to wait weeks for a real estate agent to send options. You can see real properties in video format, evaluate if they fit your needs, and make decisions at your own pace. From there, communication with a broker happens directly through the platform, making the process smooth, transparent, and stress-free.

Crypto payments – what you need to know

Cryptocurrency is increasingly popular for investments, and Dubai actively supports this trend. However, it’s crucial to remember that crypto is not yet recognized as an official payment method in the UAE. Banks do not accept it directly. If an agency offers a crypto deal, it’s worth proceeding cautiously due to potential risks.

The safest approach is to convert crypto into AED through licensed exchanges first and then proceed with payment. The UAE is actively building blockchain infrastructure, with many licensed exchanges operating locally. Converting crypto into dirhams or dollars is feasible and relatively straightforward.

After conversion, the purchase follows standard procedures: signing the contract, registering with Dubai Land Department, and receiving the official Title Deed – your legally recognized proof of ownership, guaranteeing your investment is secure.

Buying property in Dubai is no longer a fantasy – it’s a modern reality. A city that once only graced glossy magazine covers can now become your personal space, whether for living or for profitable investment. And platforms like Dubadu make it easier than ever to take the first confident step toward your dream.