Thinking of buying a house?

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Thinking of buying a house?


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Old 7th January 2013, 01:30 PM
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Hello all,

I'm a journalist writing a story for the New York Times about the proposed mortgage cap in the UAE that will ask for a minimum 50% deposit to buy a house - I'd love to hear if you're house hunting, how this will affect your decision (will you rent instead?) etc. Please get in touch if you'd like to share your experiences.

Thanks!

Sara Hamdan

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Old 7th January 2013, 04:00 PM
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Cant confirm but there are rumors that there are ways around this. I personally never bought anything here i couldnt back with cash but i have never looked at dubai as a home buying option but only as a place to invest so they are small investments. It is interesting though to see how this plays out and whether the market slows down or speeds up.

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Old 8th January 2013, 01:20 AM
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I am planning to buy a house and definitely if 50% rule goes through then it would be out of question for me to buy the property as shelling out 50% cash is really too much for service men.

I definitely see a reducing demand for apartments post this rule being in place. It will not only impact the demand, but also the entire mortgage industry, jobs, property prices, rentals...

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Old 8th January 2013, 07:06 AM
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Quote:
Originally Posted by sarahamdan.iht View Post
Hello all,

I'm a journalist writing a story for the New York Times about the proposed mortgage cap in the UAE that will ask for a minimum 50% deposit to buy a house - I'd love to hear if you're house hunting, how this will affect your decision (will you rent instead?) etc. Please get in touch if you'd like to share your experiences.

Thanks!

Sara Hamdan

hi Sara, while i do not have anything to contribute to your article just now, i would love to read it when you are done. would you be so kind as to provide a link if it's posted online somewhere? thanks!

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