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Real Estate Briefing - Categorized | Middle East and Africa, Mortgage more

UAE’s new mortgage rule will deter property investors – Experts

Posted on 03 January 2013

The UAE central bank recently issued a circular instructing commercial banks in the country to restrict mortgage loans to foreigners at 50 per cent of the property’s value, Reuters reported earlier this week.
While the central bank has not yet confirmed the ruling, the report said that the move was probably aimed at ensuring that the UAE real estate does not develop another property bubble as it did in 2008/2009………………………………………..Full Article: Source


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