If you plan on staying in Dubai for a longer amount of time, buying a property rather than renting may be a better option. Properties here are lavish, offer an upscale lifestyle and are also considered good for investment purposes. As a matter of fact, Dubai is one of the few worldwide locations that offers a respectable return on investment through rental yields.
Having said that, for most people, purchasing a home entirely with liquid assets or personal savings is not an option, and they must rely on a mortgage to complete the process. Hence, you should be aware of the many types of home mortgage loans available in Dubai and the actions required to obtain one. The good news is that this is doable for an expat.
The mortgage lenders are well-equipped to deal with foreign residents and non-resident mortgage applications, whether you’re searching for a new family home or an investment. You’ll need to get financing to finalise the transaction if you’ve decided to buy property in Dubai.
