How Long Can You Reserve an Apartment?

So, you found the perfect apartment in Dubai. It could be a cozy one-bedroom apartment in Business Bay or a luxurious villa with waterfront views in Dubai Marina. You are excited but also a little apprehensive. "Can I reserve this apartment while I sort other things out?" Well, the good news is—yes, you can! But how long will you hold on to your dream apartment before it slips away? Let's dive into it! 

What Does “Reserving an Apartment” Mean in Dubai?

Reservations of apartments in Dubai's real estate market involve temporarily holding the property so it does not appear on the market. This is usually done by paying a reservation fee or signing a booking agreement with the developer or landlord. Think of it as a "hold" while you get your paperwork or finances in order.

How Long Can You Reserve an Apartment?

Here’s where it gets interesting—and, honestly, a bit tricky.

1. Off-Plan Properties (Under Construction)

When buying an off-plan property from a developer, you’ll usually have more flexibility. You will typically pay a reservation fee of 5-10 % of the property's value, after which the developer will hold the unit for you until the next payment milestone.

For example:

• Some developers give you a grace period of up to 30 days to make the next payment.
• Others may offer longer timelines, especially if payment plans are tied to construction progress.

Pro Tip: Always ask about the developer’s reservation terms before paying the fee. It's important to know what happens if you change your mind or need more time.

2. Ready-to-Move-In Properties

The reservation period is shorter for a ready-to-move-in apartment. Most landlords or sellers expect a commitment within 7 to 14 days of paying the reservation fee.

Why the shorter timeline? Ready properties are in high demand, and the landlords want to seal the deal as soon as possible.

3. Rental Properties

Reserving a rental apartment is different. Typically:

• You’ll pay a security deposit, which secures a hold on the property-usually 5 percent of the annual rent.
• Further, a landlord can give you 5 to 7 days to complete the contract and payment.

What Happens If You Miss the Deadline?

To ensure the property is returned to the market, you must make the next payment or finalize the paperwork within the reservation period. Otherwise, you’ll lose the reservation fee!

But here is the silver lining: if you can communicate early and genuinely show that you want the apartment, some developers or landlords will offer an extension. It's always worth asking!

A Few Things to Keep in Mind

Here are a few things to keep in mind to make the reservation process smoother:

• If necessary, get pre-approved for a mortgage. This will save you time and ensure you complete all deadlines.
• Make sure you have enough funds. Whether you are paying the reservation fee or the next installment, it is always important to be prepared. 
• Always proofread and check the terms of the reservation agreement. Some of the fees are non-refundable!
• Keep the developer or landlord updated if there’s a delay.  

Conclusion

Reserving an apartment in Dubai isn’t as daunting as it sounds, but it does require some planning. The timeframe you get—7 days for a rental or 30 days for an off-plan property—can vary, so staying organized and communicating is crucial.

At the end of the day, Dubai’s real estate market moves fast, and so should you. If you’ve found “the one,” don’t wait too long—because someone else is eyeing it too!

Reserve your dream apartment; take your time, but only a little time, and happy house hunting