Living in Dubai
- Moving To Dubai
- Essential Documents
- Driving
- Getting Around
- Where To Live
- Housing
- Lifestyle
- Clubs and Groups
- Finance
- Family
- Pets
Housing
The first question to answer is: to rent or to buy? Most expats opt for renting as it gives you more flexibility, particularly when you first arrive in Dubai and are unsure of the best location to live in. Also, you need to have lived in Dubai for a minimum of six months before you can apply for a mortgage with a UAE bank, so your first year at least is likely to be in rented accommodation.
However, an increasing number of expats living in Dubai are now choosing to buy rather than rent property as they plan to put down longer term roots. Unfortunately, the days of getting a 90% mortgage are over, and at the end of 2013 Central Bank announced a new ruling to cap mortgages. As restrictive as it sounds the good news for those wanting to buy a home is banks have dropped interest rates to attract borrowers.
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