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

New mortgage rules may stifle U.A.E. property recovery

Posted on 15 January 2013

Expatriates in the United Arab Emirates will have to make down payments of at least half the value of properties they buy if new central bank rules on mortgages go into force. This may dampen demand from foreign buyers and stifle the country’s tentative real estate recovery.
There is currently no limit on how much of a property’s value an expatriate in the U.A.E. can borrow when taking out a mortgage, a factor bankers say has helped boost demand for real estate through good times and bad………………………………………..Full Article: Source


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