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- Business Bay, Dubai, United Arab Emirates
21st Century Properties Dubai
21st Century Properties Dubai – 21st Century Properties is a one of a kind residential commercial real estate company to provide First Class service. We understand that hard work superior marketing are the keys to your success. Founder on the belief that investments, buying, and selling real estate could be simple, fast and efficient. Established in 1998 these beliefs become a reality.
Real estate is one of the most important and exciting investment one can make. We believe the Dubai real estate market has a bright future. 21st Century Properties positions you for the most rewarding real estate opportunities and services. We serve sellers, buyers, investors and tenants and are well versed at achieving the best all around deal for each represented client. Our agents’s unique approach potential buyers directly to help owners and developers sell their properties quickly. We want to empower people both our clients and employees to achieve their dreams. Striving to integrate business with a fulfilling life. Building business relationships had achieved us exclusive agents for several projects in Dubai. You will be provided with quality-customized service that fits your needs.
Our philosophy understands that each property is as unique as each of our clients. Handling transactions like our own, as well as paying close attention to our clients short and long term goals. Our job is not finished until you are satisfied, your success is our success. From beginning to end, we are on your side every step of the way.
Before we talk about how to go about looking for a mortgage in Dubai, here’s some Dubai mortgage industry background. About 15 years ago the UAE took the plunge and began to offer mortgages but only through 2 or 3 lenders. These days were easier and people wanted to buy and Dubai was booming. It was and still is a tax free economy. Stories of expats mortgaging themselves in their home country to enable them to make a property purchase in Dubai were commonplace and of course although none of us saw it coming, things were to become fraught with difficulties when the credit challenge knocked on everyone’s door. ‘Flipping’ was easy to calculate and easy to do and purchasers were seeing substantial returns when they sold their investment property a month or two later and sometimes only a week or two later.
The Dubai Mortgage Market – A Few Years Ago
What made the boom, was partly due to the buoyancy of the international marketplace but what put the icing on the cake was that in 2002 it was announced that the property ownership rules in Dubai would change – these were legalised in 2006. The Dubai brand was being built by international marketers and design agencies, simply adding to the frenzy. Many viewed Dubai as a luxurious getaway with an easy 6 to 8 hour flight from most European countries. One of the favourite areas for expats purchasing properties was in Dubai Marina where the first of the 6 Emaar Towers was completed in 2003. Emaar is recognised as one of the quality developers in Dubai. Dredging of the large 3km long man made canal began in 1998.The new property ownership rules in Dubai allowed 100% freehold and leasehold ownership for UAE expatriates in designated areas throughout the UAE. These new rules became the massive catalyst to the Dubai real estate mortgage market.
The Dubai Mortgage Market – Today
Today the Dubai real estate mortgage market has grown to over 50 lenders offering more than 150 different mortgage products. These mortgage products vary greatly in regards to their terms and conditions, products features and limitations, and unless a borrower has the knowledge, experience and time to identify the most suitable product for their circumstances most borrowers would be wise to seek the advice of a professional mortgage consultant. When it comes to researching the market and identifying the best mortgage product for your requirements. This should be the remit of an experienced and qualified Independent Mortgage Consultant who can save time, money and stress when it comes to what can be the largest single purchase a client will make in their lifetime.
21st Century Properties
Executive Tower B Bay Avenue
United Arab Emirates