The Problem: Residents Being Priced Out

Dubai’s booming property market has attracted significant attention from foreign buyers, driving prices upward and creating challenges for long-term residents. With over 70% of recent residential transactions dominated by foreign investors, affordability and availability has been challenging for local UAE residents. Many find themselves stuck renting indefinitely, unable to break into the market due to rising prices, limited financing options, and intense international competition.

The Solution: Government-Backed First-Time Home Buyer Scheme

To address this pressing issue, Dubai has launched the First-Time Home Buyer Scheme in July 2025, designed to support existing residents aged 18 and older who have never owned property in Dubai.

This initiative offers properties priced under AED 5 million (approximately USD 1.36 million) from 13 prominent developers including Emaar, Damac, and Nakheel and the key benefits include;

• Preferential Pricing: Residents gain exclusive early access to competitive pricing on select off-plan and ready properties, shielding them from speculative price hikes.
• Flexible Payment Plans: The initiative provides interest-free installments on the Dubai Land Department (DLD) registration fees, reducing the upfront financial burden.
• Special Mortgage Terms: Participating banks such as Emirates NBD, Dubai Islamic Bank, CBD, Mashreq, and Emirates Islamic Bank offer attractive mortgages at reduced interest rates, with extended tenors of up to 18 years.
• Streamlined Digital Access: Residents can register conveniently via the Dubai REST app or DLD’s official portal, receiving a QR code granting immediate access to developer and bank offers.

How Residents Can Act Today

1. Verify Your Eligibility: Must be a UAE resident, aged 18+, and a first-time Dubai property buyer.
2. Register Immediately: Use the Dubai REST app or DLD’s online platform to secure your place in the scheme.
3. Compare and Choose: Explore available options from participating developers, carefully comparing payment plans and mortgage terms.
4. Act Swiftly: Early registration and decision-making will provide greater flexibility, favorable pricing, and better property selection.

This supprotive UAE government initiative empowers residents to secure home ownership in Dubai’s competitive real estate market, offering stability and the chance to build lasting roots in the emirate. This is the time to act and make home ownership a reality! As always, keep checking Viewit for the latest news and reviews on Dubai real estate!