With more than 3,400 transactions of sale worth more than 4 billion dollars and mortgage deals valued at around a billion dollars, the real estate in Dubai is selling at its peak in the fiscal year 2025.
The main cause of this upsurge is the population float from the West while celebrating an all-enclosed ultra-luxury environment with a high-quality transportation system and better employment opportunities. In the past half of a decade, many people switched from renting to buying in their vicinity. In 2022 itself, half a trillion dirhams worth of real estate transactions were completed. Dubai’s realty sector saw new heights in 2024, breaking record values and crossing 40 billion dollars in resale value.
Dubai’s Real Estate Market Trends
- Commercial real estate’s surge in appreciation and demand, especially in Dubai’s international finance center.
- Dubai will lead global prime residential price and rental growth among 30 countries.
- The ultra-luxury realty sector will continue to grow in 2025.
- Sales of luxury residential properties have risen by over 600% in the last ten years, reaching upwards of 19 billion dollars.
Importance of Mortgaging
With increasing sales and resale values, mortgages play a crucial role in facilitating property purchases. Here are the key factors affecting mortgage deals:
- Deposit required: 15% for citizens, 20% for residents.
- Deposit increases up to 30% for properties worth 5M AED or more.
- Banks cover the remaining 80-85% of the property value.
- EMI payments are structured over a tenure of up to 25 years.
- Mortgage rates range from 2.99% to 4.99%.
- A credit score above 680 ensures better interest rates.
- Mortgages available up to 7 times the annual salary.
For the best mortgage deals, kindly contact us at +971524282372.
