High Real Estate Price Holding Back UAE Buyers
Majority of Local UAE people wants to purchase a property in the country, but raise in the property prices is a major concern, according to a various financial comparison website. A report said that 76 per cent of local residents wanted to purchase a property in the country, but due high house prices the people are opting for renting rather than buying.
Despite all the regulations and raise in the real estate price, the UAE banks are encouraging the people to buy property by offering easy home finance solutions and low mortgage rates. UAE banks such as Mashreq, HSBC, Standard Chartered and Commercial Bank of Dubai are offering flat mortgage rates (1.6 percent).
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