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

Can UAE’s new mortgage caps check speculation?

Posted on 08 April 2013

If Sultan bin Nasser al Suwaidi has his way, by the end of this year it will be that little bit harder for people in the UAE to buy their own homes. The central bank governor is preparing to impose new limits on the amount that anyone can borrow to buy a house or apartment in an effort to prevent a return to the days of uncontrolled property speculation which proved so damaging in the past.
The limits have yet to be finalised, and are part of an ongoing consultation exercise between the central bank and lenders, but expatriates are likely to find them more restrictive than locals………………………………………..Full Article: Source


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