• Home
  • Blog
Dubai real estate purchase costs rising

Beginning February 1, Dubai real estate buyers will have to pay 6% more up front.

Dubai real estate is about to change for good… Starting February 1, property buyers looking for a mortgage in Dubai won’t be able to cover the 4% Dubai Land Department (DLD) fees or the 2% brokerage fees through their financing anymore.

So, you’re probably wondering, why is this happening? Well, the UAE Central Bank has directed banks to halt financing the DLD registration fees and real estate broker fees.

Since banks won’t let customers roll these fees into their mortgage anymore, buyers will have to cough up the 6% upfront.

Buyers in Dubai now have to put down bigger deposits for property. The down payment ranges from 20% to 30% of the property’s value. Expats need to put down 20% for properties under AED5 million and 30% for those above that amount.

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact us
whatsapp

Compare