Mortgages Broker In Dubai And The Big Banks

Dubai real estate is a huge consistently hot real estate market for investment property in the past few years. Dubai is the most populated and second largest Emirate in the United Arab Emirates. It has seen enormous construction and has attracted investors worldwide to its real estates projects.

I remember the full time when an international investor trying to find a mortgage could be confronted by puzzled Dubai developers and much more confused estate agents. When an international investor did find a local bank it could be so expensive and time intensive the client often gave up. The good thing is that the Dubai real estate market is maturing and the big banks have woken around the fact that Dubai mortgages are potentially very big business.

Early troubles with a Dubai mortgage all stemmed around the difficulties foreign buyers had securing the freehold on a property. Since the announcement on March 12 2006 that non United Arab Emirates nationals may get the best your can purchase freehold properties in a few areas of Dubai, massive interest has been stirred in overseas property investors. Demand is surging and real estate is simply speaking supply many off plan developments sell out in days of release.

Now with laws passed and established zones in Dubai where freehold ownership isn't in question the banks are finally acting. The Dubai mortgage market is placed to be one of the most competitive markets in the world. The worlds investors are considering Dubai long and hard. Investors won't tolerate being ripped off with high price mortgages.

Unlike many overseas markets most freehold property in Dubai has not bought with mortgage finance. This provides industry a large amount of resilience. Lots of the mortgage providers in Dubai will only lend to non residents in the Dubai freehold zones.

Properties on the market that are suited to foreign buyers come in these freehold zones: Dubai Sports City , Dubai Marina , I.M.P.Z. International Media Production Zone , Jumeirah Village , The Palm Jumeirah, Shaikh Zayed Road, International City, The Lagoons, Palm Deira, Jebel Ali Airport, Emirates Road, Dubai Land ,Business Bay ,Downtown Dubai and a whole lot more

So what's attracted international Banks to Dubai that's simple money and plenty of it. Dubai's population is in the region of 1.4 million citizens, by 2010 it's expected that Dubai will soon be home to 3.5 million residents. The Banks anticipate an enormous demand for property and in turn a big demand for mortgage broker Dubai. The large multi nationals will soon be moving in and using them their staff all needing a destination for a live.

Nearly all of Dubai population is placed to be composed from individuals from overseas. Dubai will soon be truly multi cultural multi national and that feeling has already been in Dubai. Experience Dubai nightlife and you will see it is really a truly multi national experience.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License