Header Hero

Low Mortgage Rates Open Door To Dubai Property Ownership

Dubai's mortgage market is off to a roaring start, as May saw a 14-month peak into the second-biggest mortgage month on record, according to data from the Dubai Land Department. This surge is fueled by low interest rates and a significant inflow of over 30,000 new expats this year, boosting demand for home purchases.

Real estate firm Allsopp & Allsopp reported a three-year high in mortgage activity in May, with finance buyers outnumbering cash buyers by 55.8 percent, doubling April's figures. Connor Humble, Mortgage Services Manager at Allsopp & Allsopp, believes this is a prime time for buyers to secure low rates and predicts continued growth in mortgage activity.

Properties in the price range of AED 1-3 million were at the top of the transaction charts, followed by the AED 3-5 million price bracket. Downtown Dubai , Jumeirah Village Circle , Dubai Marina, Jumeirah Lake Towers , and Jumeirah Beach Residence have appeared as top locations for apartment mortgages. As for villas, The Springs, Arabian Ranches , Town Square, Al Furjan, and Reem are the top five locations in demand.

This trend is attributed to increased mortgage education and the use of independent advisors who help buyers understand their options and negotiate better with banks. Having such a shift in a market like this, where interest rates fluctuate every minute, becomes very important to ensure the buyer gets the best deal and the community that suits his requirements.

Further Reads

Whatsapp Get a Free Consulation
Whatsapp Now E-Brochure

Ready to upgrade your lifestyle? Don't wait!
Register now for exclusive offers in .