Real Estate & Credit: All Features and Details of Mortgages for Foreigners in Dubai

12:57 pm  |  01.08.2023

Foreigners in the UAE often decide to buy property in Dubai. This is a great way to invest, as a house or apartment can be rented out, and given the constant increase in real estate prices, the property can be sold later. Real estate in the UAE is expensive, and most investors are trying to solve the financial problem through mortgage lending.

Various financial institutions and banks offer mortgages in Dubai, so it is possible to choose the option that suits you best. The main advantage of a mortgage loan is to make a down payment for purchasing an apartment or house without using personal money as collateral.

READ: Dubai Property Market: Results and Prospects for Mid-2023

How Much Can You Expect?

Before deciding to get a mortgage loan, you need to read the conditions for its provision in different organizations, since they differ for emigrants currently living in Dubai, foreigners, and residents.

  • Foreigners and residents planning to invest in residential property valued at less than AED 5 million can take out a mortgage at 75% of the purchase price. UAE citizens are allowed to take a loan at 80%.
  • If the property being purchased is valued at more than AED 5 million, a home buyer in the UAE can count on a mortgage loan of 65% of the property price. UAE citizens can take out a loan at 70%.
  • If a foreigner plans to purchase a second property, he may be offered a mortgage loan for 60% of its price.
  • A 50% deposit will have to be paid by both a foreigner and a UAE citizen if they want to purchase a property under construction.
  • The ratio of the buyer’s loan debt to income should not exceed 50%.

Mortgages are issued for a period from 5 to 25 years, which is explained by the presence of age restrictions. You cannot buy a property if the buyer is under 21 years old. Many banks do not have an upper age limit, usually, people over 55 are denied.

READ: New Prospects for Investors in 2023: Dubai Apartments

As a foreigner, it is possible to apply for a possible mortgage loan as long as the request exceeds not go over your annual income or exceed seven times your income. It’s important to remember these limits when considering a mortgage loan application.

Which Banks Issue Mortgages in Dubai

A foreign citizen has the right to choose any financial institution for obtaining a mortgage, whose conditions meet individual needs. In Dubai, there are several representative offices of large banks that you can contact.

Emirates NBD Bank

Emirates NBD

This bank is considered one of the most popular in the city. It provides mortgage loans of up to AED 15 amount of the mortgage can reach up to 70% of the loan property’s value of the property. Bank approval is required.



The bank is one of the largest in the world. Its product line includes mortgage loans for potential investors and property buyers in Dubai. The bank provides mortgages to foreigners and expats residing in the UAE with a monthly income of AED 15,000.


Masheq Bank

Mashreq Bank is considered the country’s leading financial institution. It provides mortgage loans to foreigners and expats residing in the UAE, working officially or not under a contract of employment, provided that their monthly income is not less than 15,000 AED. Mashreq also gives foreigners the opportunity to buy a house in installments.

READ: Dubai Foreign Investors: Who Leads the Real Estate Market

How to Apply for a Mortgage in the UAE

There are two options for applying to a financial institution for a mortgage – directly and through an intermediary. In this case, the services of a reliable broker will not be superfluous, because financial consultants can answer any questions, give practical advice, and explain the nuances of local legislation, which is essential in the conditions of another state. This is an opportunity to avoid mistakes, and as a result not to overpay, as well as to constantly be aware of the situation on the real estate market and invest funds as efficiently as possible.

List of Documents for Buying Property in Dubai

After a successful search and selection of real estate for purchase, you need to agree with the seller or his representative on the transaction amount and sign the contract. In Dubai, real estate transactions do not take much time.

After signing the contract, the buyer is required to pay a deposit. Its size depends on the price of the purchased property. Often it is 10% of its value.

From the documents you need to prepare:

  • Passport;
  • a document confirming residence in Dubai (resident visa);
  • a document confirming the current home address;
  • salary certificate or proof of regular income;
  • a bank statement confirming the viability of the buyer as an investor;
  • if the mortgage is issued by a person working under an employment contract, you must provide a reference from the employer.

When applying for a mortgage by a foreign entrepreneur, you need to provide a package of documents for the company, including the charter, and the conclusion of the audit by the auditor on the financial condition.

A mortgage loan to a foreign citizen in the UAE can only be issued for real estate put into operation or under construction with a maturity date of no later than two years from the date of the mortgage.

Real Estate Requirements

It is important to know that a foreign citizen cannot purchase any property he likes in Dubai with a mortgage. According to UAE law, a foreigner can take a mortgage loan in the United Arab Emirates only for the purchase of residential property in freehold areas. Some banks have their own list of residential real estate for sale to foreign citizens in mortgages. At this point, you need to pay attention in advance so that you do not have to spend time looking for suitable housing and a bank.

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Leave a comment on


Spelling error report

The following text will be sent to our editors: