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Are expats to be priced out of Dubai’s property market?

Posted on 04 January 2013

Expats dreaming of owning their own home in the UAE woke to depressing news this week as it was reported that the UAE’s Central Bank has directed banks to cap mortgages for expats at 50 per cent on a first property or 40 per cent on a second.
To date, it’s been possible to get mortgages of up to 80 per cent – or even 100 per cent on a TDIC property in Abu Dhabi – and it’s thought the new ruling will apply even to pre-approved mortgages that have not yet gone through………………………………………..Full Article: Source


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