The UAE face Sri Lanka in the semifinals of the Global qualifiers on Sunday. The winner of this match will qualify for this year's Women's T20 World Cup
Real estate has long been a vital pillar of the UAE's economy, helping to consolidate its position as a gateway to the Middle East and beyond. Despite the impact of the pandemic, increased borrowing limits, coupled with stronger regulations and enhanced business confidence, are significant factors expected to drive activity in the sector during 2021.
As investors look to capitalise on these trends and buy properties, some of the key trends to consider are:
New Niche Segments
Across the Emirates, there has been an increased focus on affordability; with many low to mid-end property options entering the market. Additionally, the Dubai 2040 Urban Master Plan is expected to significantly contribute to the industry as more residents look for vibrant, green and inclusive communities to live in, and others look for larger spaces to accommodate their new 'work-from-home' schedules. Location should therefore be an important factor in any investment strategy.
Better Borrowing Conditions
The decision by the US Federal Reserve to maintain low benchmark interest rates has had a knock-on effect on home loan interest rates in the UAE; enabling individuals to benefit from significantly lower borrowing costs. The UAE Central Bank has also further boosted the market by increasing the loan to value ratios - allowing buyers to receive a mortgage of up to 80 per cent of the property value, or 85 per cent if they are UAE Nationals.
Digital Technology
Technological advancements in the real estate sector have transformed the home-buying journey to be more transparent and easier to navigate. Several banks in the region have made home loans accessible on the internet within just a few clicks. At Mashreq, customers can learn their loan eligibility, the cash flow required to purchase a property, and receive a pre-approval on their mortgage in just 10 minutes. Choosing the right financial partner, therefore, can make the process easier than ever, when purchasing a dream home.
Finally, as travel restrictions ease, Expo 2020 approaches and business confidence returns - investors will also have ample opportunities for a return on their investment in the long-term, as real estate prices rise gradually once more.
Customer testimonials
I'm a first-time property buyer in the UAE, and was anxious about the whole process. Your guidance, expertise and proactive service made the whole experience seamless throughout my mortgage application. Thank you for the excellent service and exceptional support provided. I'm very grateful to have had such a highly knowledgeable and trustworthy advisor dealing with my mortgage application.
Thank you Mashreq Bank for helping me make my dream come true.
Dajana Soja
The overall experience of the mortgage was very pleasant and I'm happy with rates and the speed of disbursement.
Tejas Vishwanath
The UAE face Sri Lanka in the semifinals of the Global qualifiers on Sunday. The winner of this match will qualify for this year's Women's T20 World Cup
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