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

UAE mortgage caps postponed

Posted on 07 February 2013

The proposed mortgage cap in the UAE has been postponed while discussions of the plans take place. The limit on lending to foreigners at a maximum of 50 per cent of a property’s value, along with a cap on loans at 70 per cent for citizens, was announced at the end of last year, following 12 months of strong growth.
The plan was criticised by experts, who feared it might cause the market’s strong recovery to slow down, while officials aimed to avoid another bubble as investors return to the economic safe haven of Dubai property………………………………………..Full Article: Source


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