With Dubai continuing to attract international investors, one question keeps coming up ‘can I get a mortgage in the UAE if I don’t live there?’
The short answer is yes, but like most things in property, the detail matter!
If you’re based overseas but looking to invest in Dubai, it’s absolutely possible to secure financing through local UAE banks. Non-residents are eligible for mortgages and can typically secure around 50-60% financing from local UAE banks, with some lenders offering up to 65% depending on the property and your profile. This means you would typically need a 35-50% deposit, plus any additional fees.
Why Dubai appeals to overseas buyers
Dubai continues to stand out globally for many factors, and typical reasons we hear from clients are:
- Tax-efficient investment environment
- Strong rental yields compared to many global cities
- A stable, growing property market
- Lifestyle appeal – sun, safety and infrastructure
For many international buyers, buying a home in Dubai can be an investment decision for long term rentals or resale, or a home to stay in when they holiday – and rent out to visiting tourists when they don’t.
What do banks look at when lending?
While financing is available, just like in any other country, the approval isn’t automatic. Banks will assess your income and employment status, currency and country of residence, any existing financial commitments and the type and value of the property you are looking to buy.
Each bank has slightly different criteria, which is why working with a knowledgeable mortgage advisor can make the process far smoother – and we’d highly recommend it, especially if this is your first overseas purchase.
Are you thinking about investing in Dubai from overseas?
Whether you’re just casually exploring or ready to make the move, getting an idea on your financing options early can save time and could open up better opportunities for you.
A quick conversation with the right people could help you understand the ins and outs, we would be happy to help answer any questions you may have or alternatively you can get in touch directly with one of our preferred financing suppliers – Lion Mortgages UAE.
We also have a ‘mortgage’ series on our Instagram with our Senior Consultant, Shauna, and mortgage expert Muhtabar, which you can watch by clicking here.
