What’s Expected to Change?

Mortgages vs. Cash: Right now, most people in Dubai pay for homes in cash. But that might shift. In the third quarter of 2023, more people started using mortgages (loans for homes) — 8,238 deals, compared to 16,485 cash deals. In Dubai, it’s 1,247 mortgage deals versus 890 cash deals.

Source: Zawya

Global Influence:

The United States is expected to lower interest rates, and since the UAE’s money is connected to the US dollar, it will likely follow suit. Lower rates usually mean more people can afford to buy homes, and that’s good for the market.

Metropolitan Homes’ View:

At Metropolitan Homes, we see this as a big deal. A 1% drop in mortgage rates means more people can afford to buy homes. This might bring in new buyers who thought owning a home was too expensive.

How It Affects You

For First-Time Buyers:If you’ve never bought a home before and your budget is less than Dh3 million, this could be your chance. Lower interest rates make buying a home more attractive.

For Investors: If you’re looking to invest in property, lower rates mean you might pay less to borrow money. That can make your investment more profitable.

What to Expect

Easier Monthly Payments: Lower interest rates mean your monthly payments could be more affordable. That’s good news for anyone looking to own a home.

More Choices for Buyers: With lower rates, you might have more options when it comes to choosing where you want to live.