How Dubai Residents Earning AED 15k–20k Can Buy a Home
Dubai has announced a significant real estate program to make home ownership more affordable for locals and expatriates. The "First Home" initiative was launched by the Dubai Land Department (DLD) and backed by the leading developers and banks. The "First Home" program is intended for first-time buyers of property in Dubai, especially those who have a monthly salary between AED 15,000 and AED 20,000.
If you've ever asked yourself if you could purchase property in Dubai on a relatively low income, this scheme is your solution.
The Main Advantages of Dubai's First Home Buyer Scheme
Up to 10% Property Discounts
Successful buyers are entitled to direct discounts of up to 10% on selected properties. These discounts are provided directly by several of the most respected real estate developers in Dubai, such as Emaar, Nakheel, and Azizi.
Longer Repayment Tenors of Mortgages (Up to 18 Years)
The consumers will enjoy longer repayment terms of home loans of up to 18 years, which will make monthly payments dramatically cheaper than regular schemes.
Flexible Salary Conditions
The conventional salary cap has been eased. Nowadays, those on AED 15k to AED 20k per month can even be eligible for home financing if they meet other criteria. The emphasis is on affordability and financial capability over the long term, rather than simply a set salary level.
"The salary criteria will be made as generous as possible," assured two of the developers taking part in the programme.
Developers and Banks Supporting the Programme
The project is supported by 13 prominent developers and 5 leading banks in the UAE, including:
Damac
Meraas
Wasl
Majid Al Futtaim
Emirates NBD
Dubai Islamic Bank
Mashreq Bank
Commercial Bank of Dubai
These organizations have joined forces to provide preferential property prices and tailored mortgage products to make buying a first home in Dubai smoother than ever.
Who Can Apply?
The First Home initiative is available for:
UAE Nationals
UAE Residents
Those aged 18 and over
Those who do not yet own a property in the UAE
In order to apply, purchasers should register via the Dubai Land Department portal or the Dubai REST mobile app.
How to Get Started: First-Time Home Buyer Tips in Dubai
Before you get started in the market, here's what the experts advise:
1. Begin with a Clear Budget
Know how much you can spend each month and in the long run. Utilize mortgage calculators or speak with a financial advisor.
2. Look at Mortgage Options Early
Talk to various banks and get quotes of interest rates, terms of the loan, and down payments.
3. Think About Upfront and Regular Costs
Include property registration costs, service fees, maintenance charges, and so on.
4. Utilize a Home Buyer Checklist
Monitor key documents, appointments, approvals, and bank requirements to keep things on track.
5. Hire a Licensed Real Estate Agent in Dubai
Select an agent who is familiar with the Dubai First Home scheme and local regulations and also has a clear knowledge of available financing.
Experts in the Industry Endorse the Initiative
"Many more mid-salaried individuals can expect to become first-time homebuyers," said Aakarshan Kathuria, the CEO of RiseUp Consultancy. "Availability of low-interest mortgage rates and extended repayment terms will make home-owning a reality for the many."
This is a more open real estate strategy," said Tizian Raab, Chief Communications Officer at Azizi Developments. "Younger customers are now being embraced by the market."
Why This Matters for Dubai Real Estate in 2025?
This move aligns with Dubai’s vision to create a more stable and diversified property market, empowering residents to become long-term stakeholders. It also supports Dubai’s Golden Visa residency goals, especially for buyers investing in property over AED 2 million.
With over 110,000 new real estate investors entering the market in recent years, this programme aims to add 5,000 new first-time homeowners in the next year alone.
Ready to Call Dubai Home? Now's the Time
With relatively low house prices and easy financing options on offer, Dubai's First Home offer is a game-changer for salaried professionals, couples, and families.
Whether you want to live in it, rent it out, or save for the future, this is a shrewd starting point in Dubai's property market.
Source: This article is adapted from Gulf News, originally published under the title “How Dubai residents with Dh15k‑20k salary can buy a house with ‘first home’ initiative”. It is respectfully used here under fair use and summarization guidelines, with appropriate credit to Gulf News and its author, Manoj Nair.
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