Yes, in Dubai, many banks issue mortgage loans, which can have different rates and terms. They lend both ready-to-occupy properties and only real estate under construction. The right to receive an international mortgage on real estate is also granted. In accordance with applicable law, real estate in Dubai can be purchased on a mortgage by foreign citizens. In this case, the borrower must meet the requirements:
- Residence visa.
- Own company in the country or formal employment in local companies.
- Payment of the down payment. As a rule, at least 25%.
- The presence of property in the territory of the state.
Banks issue mortgages to people aged 21 to 65 (we are talking about employees). If you are a self-employed person, mortgages are issued up to 70 years.
It is not necessary to meet all of the above requirements. To qualify for a mortgage, 2–3 points are enough.