Thylakoid,
Thanks for the info. Will be interested in buying my own place if I do get to Dubai. The 99yr visa sounds more like a
PR as compared to the 3yr renewable one.
Does anyone know how soon the 99yr visas are approved once you purchase a property? Also, do you have to spend above a minimum amount to qualify for the 99yr visas? Called Nakheel up the other day but couldn't get the info I wanted.
Also surfed the HSBC.ae site yesterday. Correct me if I'm wrong but I gathered that mortgage financing typically does not exceed 80%, with tenures maxing out at 20-25 yrs. With interest rates around 7 to 7.15% and capital gains seen in the Dubai market over the past few years, I suppose the rental/utilities allowance paid by EK doesn't suffice in covering most mortgages for villas & 3 bdrm apartments.
Cheers!
