With the recent cooling of Dubai Property Prices Residents who have been renting properties are looking to make their own purchase on the back of lower property prices.
With typical rental costs of 7 to 10% of purchase price and lower mortgage rates as low as 3.99% many residents who are in stable jobs are seeing a ideal time to enter the Dubai property market and become owners, having endured many years of high rents.
Most activity is in the apartment market in the bracket of 500,000 aed up to 3m aed well below the current mortgage threshold whereby 75% mortgage loan to value can be obtained.
A more stable and transparent buying process with Full Title deed and bank mortgage incentives are further driving the appeal.
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