|01-20-2015, 04:23 PM||#1|
Cost of living remain a concern in the UAE
Cost of living remain a concern in the UAE as government charges increase further in 2015 with a 4 percent inflation and persisting high properties prices while that residential rental growth eased this past months.
"We remain wary of pressures on the cost of living as inflation registered 4 per cent at the end of November, on the back of increasing housing and utility costs”, according to a new report on Dubai’s residential market.
According to the documents, home loans to U.A.E citizens can be as much as 70 percent of the value of the property for the first house and 60 percent for the second.
Foreigners, who make up more than 80 percent of the population of the UAE, can get mortgages of as much as 40 percent of the value of a second property.
However, as a result of overall expensive rentals and properties, the UAE lost last year its rank as the world`s top expat destination, recently ranked as the 5th in the list after Qatar (13th) and Oman (14th).
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