What is the Dubai First Time Home Buyer Program
The Dubai First Time Home Buyer Program, which launched on 9th July, offers the opportunity for both expats of any nationality and Emirati citizens to become property owners in Dubai. The scheme offers those who have never owned property in Dubai the prospect of doing so, using a package of incentives including:
- Early access to property launches
- Reduced prices
- Preferred mortgage rates
- Interest-free payment plan (to cover Dubai Land Department’s registration fees)
How does the Dubai First Time Home Buyer Program work?
The Government of Dubai’s Land Department (DLD) has established the first-time homebuyer scheme to connect property developers and banks with prospective homebuyers. Developers and banks will offer incentives to those registered with the scheme.
The scheme runs in partnership with specific property developers who may offer early access to property launches, as well as preferential prices to buyers using the scheme. A number of banks are signed up to the scheme, offering participants mortgage packages at competitive rates. As a scheme participant, you can take up any of these offers while the program is running to purchase a property.
Who can qualify for the Dubai FTB Scheme?
First and foremost, you'll need to be a UAE resident, meaning you'll need a visa to work and live in Dubai. Beyond this, the criteria for eligibility are quite simple - scheme applicants must be at least 18 years old and have never owned freehold property in Dubai. This means it is open to those who own or have owned property in other countries. When buying a property under the scheme, its purchase value must not exceed AED 5 million, which is approximately £1 million.
How to apply for Dubai’s First-time buyer program
You will need to complete an online application with the Dubai Land Department or enter your information on the Dubai REST app, a digital platform used for various property transactions, including buying and selling in the emirate. If successful, you will receive a confirmation email with a QR code that links you to all organisations associated with the scheme. You will then begin to receive information about upcoming purchase opportunities as well as lending offers connected to the scheme.
Is the Dubai first-time buyer scheme any good?
Attracted by the promise of a high-end lifestyle and no income tax, many foreigners, particularly from the UK, have settled in Dubai. However, it is essential to weigh up the merits of investing in the Dubai property market. Like any other property market, values can fluctuate in either direction, and without thorough knowledge of local real estate, it can be challenging to determine whether your investment will retain its value. The current currency exchange rates from the British Pound to the UAE Dirham are relatively favourable, which could mean you get more for your money by purchasing in British Pounds; however, exchange rates are unpredictable, and so the reverse could be true if you choose to sell up and return to the UK.
Pros and Cons of the Dubai first-time buyer scheme
Pros
- Viable option to establish property ownership abroad
- Early access to property launches
- Lender and developer incentives, including reduced prices and preferential mortgage rates
Cons
- A lack of local knowledge could potentially lead to a poor return on your investment
- Maintenance and service charges for the upkeep of grounds and communal spaces can be high
- Currency fluctuations could have an adverse effect if you decide to sell up and move back to the UK
Further reading
- Dubai Land Department First Time Home Buyer Overview
- UK Government advice for living in the United Arab Emirates
£200 Pension Cashback Offer
Make a qualifying deposit or transfer a pension to our partner Interactive Investor.
- Deposit or transfer a pension of at least £20k and you could earn £200 cashback
- Terms and Fees apply, Capital at risk
- New & Existing customers opening a SIPP
- Offer ends 30th June 2026
Before starting your transfer, check you won't lose any valuable benefits (such as guaranteed annuity rates or a lower protected pension age) and find out what exit fees you might have to pay
