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Starting February 1st, 2025, UAE banks will no longer cover DLD or agency fees for property purchases. Buyers must now ensure they have at least 26% of available funds, including a 20% deposit, to proceed with their investment.
Here’s what you need to know:
- No More Financing of DLD and Broker Fees
Banks will no longer include the 4% Dubai Land Department (DLD) fee and 2% broker commission in mortgage packages. Buyers will now need to pay these costs upfront, along with the standard 20-30% down payment.
- What This Means for Buyers
Traditionally, banks financed up to 80% of these additional costs, making homeownership more accessible. With this new policy, buyers will need extra liquid funds about 6-7% of the property price to cover fees like:
DLD Registration (4%)
Real Estate Commission (2%)
Trustee Fees (AED 4,200)
Mortgage Registration (0.25% of the loan)
Title Deed Fee (AED 500)
- Why the Change?
This move encourages responsible lending and aims to ensure the market remains stable and sustainable. It’s designed to prevent over-leveraging and speculative buying while protecting loan-to-value ratios.
- Impact on the Market
Buyers may need to rethink budgets and liquidity planning.
Demand for off-plan properties is likely to rise as developers offer flexible payment plans.
Secondary market properties may see a dip in demand, potentially pressuring prices.
Tip: Plan ahead! Speak to your mortgage advisor, budget for these changes, and explore flexible developer payment plans if you’re eyeing an off-plan property.
The UAE real estate market is evolving, and so should your strategy. Let’s navigate these changes together!
What do you think about this new policy?
Plan ahead and secure your finances to make your real estate journey seamless. Have questions? Our team is here to guide you through the process.
Contact us now!
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