DUBAI LAND DEPARTMENT LAUNCHES INITIATIVE FOR FIRST TIME HOME BUYERS

A joint effort by the Dubai Land Department and the Department of Economy & Tourism presents an initiative to support first time buyers in the Dubai property market. It extends aid for both UAE residents and expats helping them secure properties that are worth below AED 5 million.

Some of the most attractive benefits that these buyers would stand to gain are preferential pricing, payment plans that can extend up to 18 years, interest free registration and priority access to new developments that are launched. This offers the new property buyers in Dubai a significant push in terms of financial support. Buying the first home for a resident in Dubai helps them to settle and live a peaceful state of mind as they engage in their business, investments or professions.

Elevating residents’ lives contributes to a more productive output to Dubai’s overall economy, relevant industry, international appeal as well as personal living standards of every individual. Signing up 13 major property developers, property listing platforms and 5 major banks to partner in this effort, Dubai’s government extended a huge assistance for its residents.

While this is a motivation mainly targeted at the mid-range salaried individuals, it is completely up to the banks to draw the line on what salaries would they finance properties on. Accepting the payments in crypto will also be up to the banks that will be providing the home buyers with payment plans.

If you are a UAE resident over 18, you are eligible for these services to own your first home in Dubai, investors can sign up on the Dubai Land Department’s website or via the Dubai Rest app.

This initiative is offered by the government to support Dubai’s residents who were not completely confident in owning property for them in a highly competitive market where a huge amount of local and international assets flow in. Through this, the window widens for those who can take advantage of owning property in Dubai that will constantly appreciate while leading a life that takes off the stress of constantly moving rental properties.

Seize this opportunity to make your dreams true by securing your first home in Dubai, get assistance from experts in the industry to secure the best option you can get in the market. At Anarock Middle East, we make sure that all of your requirements are met while you are informed every step in the way with security, legitimacy, and efficiency is at the top of our priorities. Contact us to share your requirements with us and secure your first home in Dubai today!

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