Real estate buyers in the UAE will have to make adjustments to mortgage accounts in 2022

It became known that low housing finance rates will increase next year. Currently, real estate purchases in Dubai for cash and mortgage transactions are approximately at the same level. 

During 2021, investors bought real estate in the UAE. Real estate sales with mortgage loans accounted for 50% of total sales over the past six months. Homeowners took advantage of mortgage rates at 3-3.5%.

The Central Bank of the UAE announced that it will closely monitor the lending of local banks related to real estate, especially loans issued as mortgages.

Real estate experts advise buyers to choose a long-term fixed rate from 3 to 5 years with a low subsequent rate, as it will make it possible to plan a budget for as long as possible and reduce risks under any changing circumstances.