United Arab Emirates is the best place to buy a home
There are many factors that go into any decision on where to live. In the global world we live in, we don’t just have a few places to choose from. With access to jobs and homes across the planet and we can decide to live just about anywhere. So, it is refreshing to hear that a survey states UAE is the best place to live for first time buyers. Let’s take a look in a little more detail.
Why UAE is the best place to buy a home
The fact that the price of property fell last year is a positive factor for first time buyers. It means that they have to save up less for a deposit and have access to more properties. The relaxation of mortgage rules for overseas buyers also means that buying in Dubai or the greater UAE is easier than ever. The deposit is a minimum of 25% so the fact that prices fell gives buyers a little respite in this property hotspot.
Finance is critical
Access to finance is voted the number one factor when making a buying decision. The fact that the banks in UAE have cottoned on to this has seen access to credit become easier and the mortgage rates drop. This is another reason that the UAE has been voted a top place for first time buyers. It is a good chance to get on the property ladder.
There are areas of the city of Dubai in particular that have been developed recently. These will come on to the market soon. Buying a new property is big in Dubai. The developments all over the city in the run up to the Dubai Expo 2020 will give buyers more choice. Affordable homes have been in the mind of the developers and they have made sure choice is plentiful.