Introducing
Dubai is one of the most popular areas for people seeking to make a prudent investment or purchase the perfect waterfront home, How much salary is necessary to buy a housing property in Dubai is an important subject as more people get interested in investing in real estate here, While some individuals like pre-built homes, others opt for off-the-plan developments and borrow money from their neighborhood bank, The minimum income required to purchase an apartment or villa in Dubai’s most sought-after neighborhoods will be determined in this article.
Why Invest in Dubai Property?
According to Numbeo, Dubai has been and continues to be regarded as one of the world’s most secure cities for a number of years. Moreover, a research conducted by the travel insurance company Insure My Trip ranked it as the third safest cities in the nation for female tourists. In addition, Dubai is listed as the fourth most Instagram able tourist destination in the world by The Bucket List Company.
Outstanding graduates, intelligent individuals, and experts from all around the world are drawn to the Arabian Gulf by a variety of employment and business prospects as well as the region’s pleasant environment and clear waters. Additionally, the emirate has gained popularity as a result of its effective defense against Covid-19, which included a national immunization program and a mass testing method.
The real estate professionals at Metropolitan Premium Properties are always prepared to provide you the most recent information if you want to learn more about the procedure for obtaining a mortgage in Dubai. We collaborate with well-known financial institutions like RAK Citibank, Commercial Bank of Dubai, and Dubai Islamic Bank. Our experts will gather all the required paperwork, compile your credit history, confirm your income, and assist you in obtaining a mortgage.
On September 5, 2022, the UAE implemented new visa regulations, making it easier to get a long-term visa to enter the nation. For instance, even if you buy a home off-plan or take out a bank loan, you can still qualify for a 10-year Golden Visa for yourself and your family. Don’t miss the opportunity to read this post if you want to migrate to Dubai or any other emirate.
Dubai Property Sales in H1 2022
Through H1 2022, the Dubai real estate market displayed remarkable figures. The average sales price per square foot has increased by 8% in the segment of inexpensive real estate compared to H2 2021, while the cost of residential properties in the most affluent neighborhoods has increased by 19%. Despite price hikes, Dubai remains one of the world’s most desirable and cost-effective cities.
While those looking for a luxurious lifestyle prefer Business Bay, Downtown Dubai, Palm Jumeirah, Dubai Marina, Dubai Silicon Oasis, Dubai Hills Estate, and Jumeirah Lake Towers, the majority of prospective buyers are drawn to family-friendly communities like Jumeirah Village Circle, Arabian Ranches, The Springs, Dubai land, and DAMAC Hills 2. The Dubai Land Department (DLD) reports that a total of 14,576 sales, comprising ready-to-move and off-plan homes, were completed in the first quarter of 2022, with a total transaction value of AED 33.06B. (USD 9B).
What Kind of Salary Is Required to Buy Property in Dubai?

In the UAE, first-time foreign purchasers have the option to borrow 80% of the purchase price with only a 20% down payment on a mortgage. In this post, we’ll assume that a mortgage will typically last 25 years, have an average fixed interest rate of 3.5%, and an allowed Equal Monthly Income (EMI) of no more than 25%.
Keep in mind that you’ll also have to pay the following up-front expenses in addition to the down payment:
- Dubai Land Department Fee, which is 4% of the property value.
- DLD Admin Fee, which is AED 4K (USD 1.1K) + 5% VAT.
- AED 520 for title deed insurance (USD 140).
- Mortgage Registration Fee, which costs 0.25% of its value.
- AED 290 for the Mortgage Registration Admin Fee (USD 80).
- Agency Fee, which is 2% of the sale price + 5% VAT.
- Life insurance, which is required when taking out a mortgage.
- Additional bank fees for property processing, among other things.
Minimum Salary to Take Out A Loan
The type of property you pick will determine the minimum income needed to qualify for a loan. Most banks would desire a candidate to have a minimum monthly income of AED 15K (USD 4K). However, some banks would accept applicants with a monthly salary of AED 10,000 (USD 2.7 000).
Note: To reduce your monthly payments, we advise choosing the longest term possible. Throughout the term of the loan, you are always free to make additional payments that shouldn’t be made in excess of 10% of the principal.
Dubai’s economical apartment buying minimum income
Areas including such Jumeirah Village Circle, Jumeirah Lake Towers, and Dubai Silicon Oasis are among the most affordable in Dubai.
Jumeirah Village Circle:
- AED 665K ($181K) is the average price for a one-bedroom flat.
- 20% down payment = AED 133K (USD 36K).
- EMI – AED 1.8K (USD 500).
- AED 10,000 is the minimum monthly wage.
Jumeirah Lake Towers:
- AED 808K is the average cost of a one-bedroom apartment.
- Down payment (20%) – AED 161K (USD 44K).
- EMI – AED 2.2K (USD 607).
- AED 10,000 is the minimum monthly wage.
Dubai Silicon Oasis:
- AED 468K is the typical cost of a one-bedroom flat (USD 127K).
- Down payment (20%) – AED 94K (USD 26K).
- EMI – AED 1.3K (USD 350).
- AED 10,000 is the minimum monthly wage.
In these locations, an apartment may be purchased for AED 10,000 (USD 2.7) each month. However, keep in mind that it can be difficult to get a loan with such income. Jumeirah Circle is a popular area for locals and visitors who want to live away from the congestion of Downtown Dubai. The average price of a one-bedroom apartment there is AED 665K (US$ 181K).
Minimum Income to Purchase Luxury Apartments
Dubai attracts those who wish to buy a house in one of the emirate’s top upscale areas. The most popular options include Downtown Dubai, Business Bay, and the Dubai Marina waterfront.
Downtown Dubai:
- AED 1.54M is the average cost of a one-bedroom flat (USD 419K).
- AED 308K down payment (20%).
- EMI–AED 4.3K (USD 1,2K).
- The starting salary is AED 18,000.
Business Bay:
- AED 468K is the typical cost of a one-bedroom flat (USD 127K).
- AED 209k down payment (20%) (USD 57K).
- EMI-2.9K AED (USD 785).
- The starting salary is AED 12,000.
Dubai Marina:
- AED 1.21M is the average cost of a one-bedroom flat (USD 329K).
- 20% down payment = AED 242K (USD 66K).
- EMI-3.3K AED (USD 910).
- AED 15K is the minimum monthly wage (USD 4K)
Downtown Dubai is a popular option for people who want to live close to the Burj Khalifa, the Dubai Mall, and other emirate landmarks. However, to be eligible for a loan for real estate in these sorts of locations, your pay must be at least AED 18K (USD 5K) every month. The apartments at Commercial Bay, the city’s commercial sector, as well as Dubai Marina, popular with tourists and expats for the abundance of local entertainment choices like The Walk, The Beach, Ain Dubai, and Dubai Marina Mall, are a little more affordable.
Minimum Income to Purchase Luxury Apartments
If you have a big family or want a spacious home, buying a villa in Dubai can be intriguing. Villas with lower prices may be found in places like DAMAC Hills 2, Dubailand, and Jumeirah Village Circle.
DAMAC Hills 2:
- A 3-bedroom villa typically costs AED 1.08 million (USD 294K).
- 20% down payment = AED 216K (USD 59K).
- EMI-3000 AED (USD 817).
- Minimum monthly wage: AED 12,000. (USD 3.3K)
Dubailand:
- AED 1.77M is the average cost of a 3-bedroom property (USD482K).
- 20% down payment = AED 354K (USD 96K).
- EMI-4.9K AED (USD1,3K).
- AED 20K is the minimum monthly wage (USD 5.4K)
Jumeirah Village Circle:
- A 3-bedroom property typically costs AED 2M (USD 545K)
- 20% down payment + AED 401K (USD 109K)
- EMI-5.5K AED (USD1.5K)
- AED 23K is the minimum monthly pay(USD 6.3K)
Couples seeking peace and quiet as well as families with children may want to think about a 3-bedroom villa. In DAMAC Hills 2, a developing community with access to Malibu Beach, sporting activities including tennis and basketball courts, jogging and cycling routes, and much more, you may find the most cheaply priced villas.
It can be a good idea to invest in Dubai real estate. Both residents and tourists to the emirate are thinking about renting a house there. To learn more about the areas of the emirate, the lease agreement, and other costs related to renting a house in the emirate, see our Dubai Rental House Guide.
Minimum Income to Buy Premium Villas
The Palm Jumeirah, Arabian Ranches, and Dubai Hills Estate are your best choices if you’re looking for a huge residential area where you may live in the lap of luxury.
Dubai Hills Estate:
- A 4-bedroom property typically costs AED 4.5M. (USD 1.2M)
- 20 percent down payment: AED 903K (USD 246K)
- EMI – 12,500 AED (USD 3.4K)
- AED 50K is the minimum monthly pay (USD 13.6K)
Arabian Ranches:
- A 4-bedroom property typically costs AED 4.6M. (USD 1.3M)
- 20% down payment=AED 924K (USD 252K)
- EMI-AED 12.8K AED(USD 3.5K)
- AED 52K is the minimum monthly pay(USD 14.2K)
Palm Jumeirah:
- A 4-bedroom property typically costs AED 15.6M. (USD 4.2M)
- 20% down payment = AED 3.1 million (USD 844K)
- 43K AED for EMI (USD 11.7K)
- AED 172K is the minimum monthly pay (USD 47K)
Every one of the aforementioned destinations may be reached in around 20 minutes. The Palm Jumeirah is where locals and tourists from outside the emirate travel to live close to the ocean and have easy access to the rest of the emirate’s key attractions. On the actual Palm Jumeirah, there are three attractions: the Lost Chambers Aquarium, Aqua venture Waterpark, and Nakheel Mall. Your monthly income must be at least AED 172K (US$47K), nonetheless, in order to cover mortgage payments. At Arabian Ranches and Dubai Hills Estate, respectively, you may find golf courses and green spaces.