Scanwing,
EK does not have any accommodation in the Lakes, Springs... Most likely you will end up in Silicon.
It is a buyers market for real estate and will become even more in the future I think. It is a f...g nigh mare to deal with the banks.
I don't think you will be able to buy anything until you produce 6 months of bank statements in the UAE.
The rates are between about 6.75 to around 9% depending on the bank and terms you are taking. You will have to pay about 20 000 Dhs in administration fees to set up your mortgage plus life insurance on the loan plus salary guarantee, plus sign your providend fund also as a guarantee. The whole mortgage process will take you 3 weeks to a month (except during Ramadan, longer). On top of the mortgage fees, add the real estate broker fees and the transfer fees from the developer (so add a few thousand Dhs more).
Second point in real estate here, you will have to write a bunch of Cheque in guarantee to the bank, a bounced Cheque in the U.A.E is a criminal offense that will give you a kind visit to the local jail, and that you will only be able to get out there by leaving your passport to the police, so in other words, if the sh...t hit the fan, you are stuck.
Third point, monthly installments. Add to your monthly mortgage DEWA and services fees, depending on the project you might be surprised on how much more a month comes out of your pocket.
I will not even talk about the registration of the property with the Dubai municipality, that's an other night mare.
I don't think F.O. allowance will cover mortgage and fees for a villa bought with a minimum cash down.
A big point to ponder is the upgrade time is now set at a minimum of 5 years, I would say more 7, so you can't count on a Captain's allowance for a while, witch makes the difference. I maintain my previous point, you need to be Captain to comfortably afford a villa, F.O. will be comfortable for a flat.
If you add it all up (mortgage, school fees, cost of living) it wont leave you much Swedish Krona to bring back home being a home owner in Dubai.