Article

Thursday, July 03, 2025
search-icon

Dubai expands homeownership opportunities for lower- to mid-income residents

publish time

03/07/2025

publish time

03/07/2025

Dubai expands homeownership opportunities for lower- to mid-income residents
Dubai’s new homeownership program offers up to 10% discounts for buyers earning Dh15,000–Dh20,000.

DUBAI, UAE, July 3: Dubai has introduced a significant initiative aimed at increasing homeownership among lower- to mid-salaried residents, potentially marking a major milestone in boosting end-user property purchases within the emirate.

Key incentives under the new ‘first-time homeownership’ program, launched on July 2, include straight discounts of up to 10% on property prices and potentially more relaxed salary requirements for bank financing eligibility. The program encourages residents earning between Dh15,000 and Dh20,000 to consider investing in homes priced under Dh1 million. If all eligibility criteria are met, developers and banks are expected to participate actively, offering extended mortgage terms up to 18 years.

Two developers involved in the Dubai Land Department’s program confirmed that the salary eligibility criteria will be made as accommodating as possible. Currently, 13 developers and 5 banks have signed up to support this initiative.

“This is the first major combined effort to attract new homeowners into Dubai’s property market, not just investors,” said a source familiar with the program. “Many potential buyers have delayed purchasing homes in Dubai for various reasons, but now the city is offering special prices, flexible payment plans, and direct support from both developers and banks.”

The initiative is currently open to UAE nationals and residents only.

Flexible salary criteria

One of the program’s notable features is its flexibility around salary requirements. Potential first-time homebuyers are encouraged to register via the Dubai Land Department website or the Dubai REST app. Developers and participating banks aim to provide financing options that make homeownership accessible to a broad range of buyers.

“The Dubai first homeownership project opens doors for buyers who were previously sidelined,” said Tizian Raab, Chief Communications Officer at Azizi Developments. “It particularly appeals to younger residents and reflects a more inclusive market approach, encouraging more individuals to become long-term stakeholders in Dubai’s property market.”

Advice for investors

Experts from the Property Finder platform suggest that those interested in the program should:

  • Begin with a realistic budget.n
  • Explore mortgage options early.n
  • Consider both upfront and ongoing costs.n
  • Use a first-time homebuyer checklist to stay organized.n
  • Work with a licensed broker familiar with the program to get the best guidance.n

Aakarshan Kathuria, founder of RiseUp consultancy, commented, “We expect to see more mid-income earners becoming first-time homeowners. Access to low financing rates will be a key driver, as it reduces monthly payments throughout the mortgage period.”