Real estate in Dubai will never be the same again… Effective February 1, property buyers in Dubai seeking a mortgage will no longer be able to finance the 4% fees from the Dubai Land Department (DLD) and the 2% brokerage fees.

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So the question you’re probably asking yourself is why is this happening? The Central Bank of the UAE instructed banks to stop financing the DLD registration fees and real estate broker fees.

Since banks will no longer allow customers to include these fees as part of their mortgage financing, they will be forced to pay 6% upfront

Buyers in Dubai now need larger down payments for property purchases. The deposit ranges from 20% to 30% of the property’s value. Expats must provide a 20% down payment for properties under AED5 million and 30% for those above this price.

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