Dubai has launched a new plan to help residents buy their first homes. With special prices on properties under Dh5 million, lower mortgage rates, and payment terms up to 18 years, the initiative targets both locals and expats. Backed by developers, banks, and property platforms, it aims to make home ownership easier and more affordable.
Special prices, lower mortgage rates, and long payment plans aim to make buying easier for locals and expats
Dubai:
Buying your first home in Dubai is set to become easier than ever. Dubai has launched a new initiative to help residents—both Emiratis and expats—take their first step onto the property ladder, making home ownership more affordable and accessible.
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The new programme targets homes priced under Dh5 million. Buyers who sign up will get preferential prices and early access to new project launches, giving them better options and lower costs compared to what’s usually available on the market.
Mortgage terms will also be more flexible. Buyers can enjoy payment periods of up to 18 years, easing the monthly financial load and making it easier for families to budget long term.
One of the biggest benefits of the plan is the promise of mortgage rates lower than what banks usually offer. This is made possible by the cooperation of 13 leading developers and 5 banks that have already signed up.
Property platforms like Bayut and dubizzle, along with real estate brokers, are also part of the effort, making it simpler for buyers to explore their options, apply for financing, and complete the process.
The Dubai Land Department, working together with the Dubai Department of Economy & Tourism, says the main goal is to help both UAE nationals and expats living in the country buy their first home.
"In a second phase, we could open this to overseas buyers too," said an official, hinting that Dubai’s real estate market may welcome even more global interest in the future.
The move comes as Dubai’s real estate market continues to boom. The city recorded around 110,000 new property investors recently, showing strong demand and interest. Experts believe this new initiative will unlock a fresh wave of buyers who previously thought owning a home was out of reach.
By bringing together developers, banks, and popular property platforms, the initiative aims to make the process clearer, more affordable, and faster.
While the programme offers great benefits, the final decision on who qualifies will still depend on each participating bank. Banks will decide the minimum salary and other eligibility criteria for applicants.
But officials hope that by offering longer mortgage terms and lower rates, the plan will help middle-income residents—who might otherwise rent for years—to finally buy their own property.
Dubai has long been seen as a global hotspot for property investment, with stunning new developments, a strong economy, and a world-class lifestyle. But for many residents, the cost of buying a first home has been a major barrier.
This initiative directly addresses that challenge by cutting costs, extending payment periods, and offering new opportunities to enter the market.
The plan is already attracting interest, and more developers and banks are expected to join soon. This would mean an even wider choice of homes and better deals for first-time buyers.
Interested residents can register through participating developers, banks, or property websites. Once enrolled, they can see what projects qualify for the special pricing and mortgage rates.
For many, owning a home is more than an investment—it’s a place to build a future. With this new initiative, Dubai hopes to help thousands of residents take that step, turning the city not just into a place to live and work, but truly a place to call home.
