Is buying in Dubai still within reach?

Headlines about record prices can make buying feel out of reach, but for many tenants the monthly cost of owning a similar apartment is close to what they already pay in rent.

Start with the deposit. Under UAE Central Bank rules, residents buying a first home usually need a down payment of at least 20 percent, or 15 percent for UAE nationals, plus about 4 percent of the price as the Dubai Land Department transfer fee and agency and mortgage registration costs on top.

Get a mortgage pre-approval before you view anything. It tells you your real budget and makes your offer stronger when you find the right home.

Look one community further out. Areas such as Dubai South, Town Square or Al Furjan often give you an extra bedroom for the same budget, with new schools and shops opening every year.

Off-plan projects with a payment plan can also help, as long as you check the developer, the escrow account and the handover date. Talk to us early, and we will show you the numbers for your own situation.