How have mortgage conditions in Dubai changed?

Dubai is one of the most popular cities in the world for real estate investment. It's not surprising given that Dubai offers great living and business conditions, which attract thousands of people every year.

One of the important factors affecting the real estate market is mortgage conditions. Not long ago, we talked about the increase in mortgage rates in Dubai. However, banks in the city continue to attract new customers, and in honor of Ramadan, they announced the possibility of issuing mortgages at 5% with a fixed rate for five years. This tempting offer allows customers to save on mortgage interest payments and maintain a fixed rate for five years.

In addition, the Dubai government is taking measures to support the real estate market. For example, there is a "First Home" program that helps young families purchase their first home. The program provides subsidies for the down payment and reduces the mortgage rate to 2.5%. Additionally, a new mortgage program called "Expat" has been introduced, which facilitates credit for foreigners who want to purchase property in Dubai.

It's also worth noting that Dubai is a tax-free city, which makes it particularly attractive to investors. Additionally, the city offers a wide range of business and leisure opportunities, making it an attractive place to live.

Overall, changes in mortgage conditions in Dubai indicate that the city remains attractive for real estate purchases. Banks continue to attract new customers, and the government is taking steps to support the market.

Keywords: Dubai mortgage conditions real estate market investment living conditions business conditions attracting people mortgage rates fixed rates Ramadan promotion cost savings first-time homebuyers government program subsidies expat mortgage program foreign investors tax-free city business opportunities tourism market support