More Dubai tenants consider buying property

UAE Property

Interest rates on mortgages in Dubai have dropped over the last three to four years from 9 per cent to 4.5 per cent per year. Banks are also offering other incentives to would-be homeowners, such as discounts on processing and valuation fees, and reduced interest rate during the first year.

“As a matter of fact, people who got a mortgage in 2008 to 2009 can benefit significantly by switching to cheaper loans,” said Preeti Bhambri, managing director and founder of 

Published: August 27,2013