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Buying Dubai Property as an Expat

5th Apr 23 - 2 MIN READ
Buying Dubai Property as an Expat - Enness Global

Dubai has long been a popular destination for expats to live and work, and with a strong property market and appreciating property values, it’s easy to see why many are looking to invest in property here. Buying a property in Dubai as an expat can be more cost-effective than renting, and mortgages are readily available for those looking to finance their property purchase. However, navigating the Dubai mortgage market without a broker can be complex, which is why it’s important to work with a reputable and experienced mortgage broker such as Enness.

 

Freehold areas for expats

Dubai is home to a number of freehold areas where expats can buy property. These include Dubai Marina, Palm Jumeirah, Jumeirah Lake Towers, Emirates Hills, and Downtown Dubai. These areas offer a range of properties, from luxurious villas to modern apartments, and are popular among expats for their high standard of living, proximity to amenities, and ease of access to major highways and transport links.

 

Why buying in Dubai as an expat makes sense

Dubai’s property market has historically been strong, and property values have consistently appreciated over time. For expats who make their base in Dubai for a long time, buying a property can be more cost-effective than renting. A mortgage is often cheaper than rent, and owning a property means that the expat is building up their own equity rather than giving money to a landlord.

 

What to know about Dubai mortgages

Mortgages are readily available for expats in Dubai, and there are now plenty of products available to choose from. As more lenders move into the market, there is more competition for borrowers, which means that good rates are available. However, navigating the Dubai mortgage market without a broker can be complex.

In summary, buying property in Dubai as an expat can be an excellent investment opportunity, with a strong property market and appreciating property values. Mortgages are readily available, but navigating the market can be complex, which is why working with a reputable and experienced mortgage broker such as Enness is highly recommended. By doing so, expats can be sure that they are getting the best deal available and can avoid any unnecessary stress, administrative burden, and delays.

 

How can Enness help?

Enness, as an experienced mortgage broker, can help individuals to understand the terms, conditions, and product features of different mortgage products, and provide context with supporting documentation to give lenders the necessary comfort to move the deal forward. Different mortgage products are available, and it can be hard to compare them without a broker's help. Brokers can run simulations, give breakdowns of costs, and explain any restrictions or clauses that the borrower needs to be aware of.

Large mortgages are available in Dubai, and Enness can help individuals with unusual backgrounds to get a mortgage, even if they own their own business, haven't lived in Dubai for long, are wealthy but don't have a job, or receive income in multiple currencies.