Despite our passion for property, people are at the heart of our process. Residential properties and commercial spaces only come alive when the right people are in them.
That is why Sherwoods are so scrupulous in making sure that we only show you the sort of properties that you really want to see. If you are selling, we talk to you every step of the way to ensure that you are always getting what is best for you from the deal, and the property that you are passing on to others is in good hands.
So from the moment you first contact us you know that you are getting sincere, friendly and utterly helpful advice. We are a company that values integrity and honesty, as much as it loves dealing with stunning villas and awe-inspiring apartments.
Sherwoods International Property was founded in London in 1988 by CEO Iseeb Rehman. Initially the company looked after the real estate needs of private bankers in London. Its rapid success soon meant that Iseeb opened Sherwoods’ operational headquarters in Dubai. Here the business evolved to cater for expatriates of the UAE, looking for real estate opportunities in London.
This means that we have now been working at the forefront of international real estate for over 30 years. Our specialist experience is in the property markets of the UK and the Gulf States.
A lot has changed in the world in that time, but we have stuck true to our principles of providing the best services, and the most exciting ventures, that global real estate can offer. That is why we have continued to grow, even when the global economy has experienced a downturn.
We know the markets like no one else, and we also know the right people. With an extensive international network of associates and partnerships. Sherwoods have an unparalleled record in helping people to find their dream property in the world’s most exciting developments, or introducing them to the perfect match for their property sale. It’s why we are almost always the first choice for developers in the Gulf States and, increasingly, beyond.
The result is that Sherwoods is now a brand in its own right. We deal with boutique practices, private clients, institutions, governmental and private developers. We also manage business verticals and are becoming a mainstay in the Gulf’s business sphere and beyond.
Sherwoods have head offices in the UK and Dubai. Thanks to unprecedented growth and new ventures that are about to begin, we also have new offices in new locations opening soon.
Frequently Asked Questions
Here are some answers to the questions we receive the most about our services.
If we missed anything, please do not hesitate to contact us. We’ll be happy to help
According to Mercer’s Cost of Living Survey, Dubai is ranked #42 in terms of cost of living in 2021, making it more affordable than cities such as San Francisco, London, and Paris. However, the location of your residence in Dubai can significantly impact the overall cost of living in the city. For example, a 1-bedroom apartment in the center of Dubai may cost AED 8.5K (USD 2.3k) per month to rent, while a property located further away could cost around AED 4.6K (USD 1.5K) per month. Additionally, monthly living expenses, which include utilities, transportation, groceries, and leisure activities, can amount to approximately AED 3.2K (USD 950) for one person, and around AED 11.8K (USD 3.2K) for a family of four. Health insurance is generally provided by an employer or sponsor in Dubai, so you do not need to worry about additional medical expenses.
Selling property in Dubai is a straightforward process with the assistance of a skilled real estate agent. To begin, you will need to sign a “FORM A” to formally mandate the broker and marketing of your property with the chosen agent. Once the form has been submitted to the Dubai Land Department’s Trakheesi system and approved, your property will be advertised on various platforms, both online and offline. Once you have found a buyer, you will need to sign a Memorandum of Understanding, or “FORM F”, which is a legally binding contract between the seller and the purchaser. An NOC letter from the developer is also required during the selling process, which may take 5-7 days to be issued. The final step in completing the sale is the transfer of ownership, for which you will need to provide the MOU, NOC, copy of the title deed, a check to the seller, 4% DLD fee, and a copy of your original passport with a valid visa or Emirates ID.
To sell off-plan property in Dubai, there are certain restrictions that developers put in place to regulate these transactions. In most cases, a resale is permitted once the buyer has paid a minimum of 30-40% of the total property value, and the payment plan can be transferred to the new owner. With the help of a skilled real estate broker, you can begin searching for a potential buyer once you have paid the minimum required amount and obtained approval from the developer. The buyer and seller must finalize the terms, price, and contracts, as well as obtain an NOC in order to register the new buyer. Once the transfer is complete, the new owner will take over any remaining payments. It is important to note that the new purchaser is responsible for paying the 4% DLD Transfer Fee, even if it has already been paid by the initial buyer.
Rewritten: If you’re looking to invest in the Dubai real estate market, there are plenty of options available to fit any budget. In the first half of 2021, the most affordable communities in Dubai included Dubai International City, Jumeirah Lake Towers, Jumeirah Village Circle, International City, and Dubai Sports City. Prices per square foot in these areas ranged from AED 447 to 870 (USD 121 to 236), with an average return on investment of 6.5%. For those on a lower budget, taking out a loan may be a good option, as the UAE offers loan-to-value ratios of 75% for properties worth less than AED 5 million (USD 1.36 million). Many developers also offer attractive post-handover payment plans, where buyers typically pay 40-50% of the property value in installments during construction, with the remainder to be paid in the years following handover.
The real estate market in Dubai is an attractive option for investing in property due to the relatively high rental yields compared to many other mature markets. On average, the return on investment in Dubai ranges between 5% and 9%, as property prices per square foot are lower than in other cities such as London, Paris, and Hong Kong. In addition, there are no stamp duty or property taxes in Dubai. To attract more investors, the Dubai Land Department (DLD) lowered the minimum required amount for obtaining a 3-year residence visa through property investment from AED 1 million (USD 272,000) to AED 750,000 (USD 205,000) in September 2021. Those who hold a residence visa in Dubai are also able to sponsor their family, allowing them to bring their spouse and children to the country.
When considering investing in real estate in Dubai, it’s important to determine the purpose of the investment. Properties in Dubai can be used as private residences or rented out and resold, which can be a good way to generate income. The location and nearby amenities of a property are major factors that affect its price. Properties that are conveniently located near public transportation, healthcare and educational facilities, and retail stores tend to be more valuable. If you decide to invest in real estate in Dubai, it’s important to remember that there is a property transfer fee of 4%, which is split equally between the seller and buyer. Other expenses associated with purchasing a property include insurance, an NOC fee, an annual maintenance fee, and the commission of the real estate agent (usually about 2% of the purchase price).
In Dubai, residents are only allowed to buy properties in designated freehold areas. Off-plan developments are a popular choice because they tend to be less expensive and offer flexible payment plans. It is also possible to apply for a mortgage in Dubai, with banks typically able to cover up to 80% of the property price for investments under AED 5 million (USD 1.3 million) and 70% for properties over AED 5 million. Villas are particularly popular in Dubai, as many expats relocating to the city with their families prefer spacious properties with amenities such as a study or flexi-room, outdoor green spaces, and other features. Luxury real estate in areas like Palm Jumeirah and Dubai Marina is also worth considering, as Dubai is a popular destination for high net worth individuals.