Additional Costs When Purchasing an Apartment

Let’s break down the associated expenses beyond the payment to the developer, using a specific example. We’ll also discuss annual costs for utilities and maintenance.

Property Details

• Unit: 1-bedroom apartment, 44 m² in Business Bay.

• Price: $245,200.

• Payment Terms: 100% upfront for a ready project.

Expenses at the Time of Purchase

• Land Department Fee 4%: $9,800.

• Agency Commission 2%: $4,900.

• Documentation and Registration: $3,000.

• Total: $17,700.

Annual Maintenance and Utility Costs

• Service Charge: $2,500.

• DU Internet: $700.

• DEWA Water & Electricity: $3,300.

• Air Conditioning: $1,600.

• Minor Repairs: $500.

• Total: $8,600 per year.