Report
Residential Mortgage
2024
Residential Mortgage Report
UAE Mortgage Market Snapshot (Full Year 2024)
| METRIC | Value |
|---|---|
| Total Property Transactions | 209,600 |
| Total Property Transactions Value | AED 553.4 BN |
| Mortgage – backed Transactions | 24,069 |
| Total Mortgage Value | AED 43.96 BN |
| Mortgage – Share of Property Sales | 7.9% |
| Ready Property Market Value | AED 137.7 BN |
| Mortgage Penetration – Ready Market (by Value) | 31.9% |
Untapped Financing Opportunity
Mortgaged Supply of 2024
| Category | METRIC | Value |
|---|---|---|
| Supply & Absorption | Total Units Supplied | 44,457 |
| Units Sold | 32,519 units | |
| Absorption Rate (Sold vs Supplied) | 73.2% | |
| Transactions Activity | Total Transaction | 45,488 |
| Market Value | Total Transaction Value | AED 70.78 bn |
| Mortgage Activity | Mortgage Cases | 3,079 |
| Total Mortgage Finance Value | AED 6.10 bn | |
| Mortgage Penetration (by Value) | 18.6% |
Most homes sold without mortgages.
Most homes sold without mortgages. Even though 73% of new residential supply was sold, only 8.6% of the value used mortgages. Most buyers paid in cash or equity.
Most homes sold without mortgages.
Even though 73% of new residential supply was sold, only 8.6% of the value used mortgages. Most buyers paid in cash or equity.
Most homes sold without mortgages.
Even though 73% of new residential supply was sold, only 8.6% of the value used mortgages. Most buyers paid in cash or equity.
Most homes sold without mortgages.
Even though 73% of new residential supply was sold, only 8.6% of the value used mortgages. Most buyers paid in cash or equity.
Mortgage Market Scale and Evolution Year on Year
Overall Mortgage Market Overview (2020-2024)
| METRIC | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Transactions | 67934 | 23786 | 23098 | 87453 | 56432 |
| Total Transactions Value (AED bn) | 198.8 | 346.5 | 231.8 | 45.9 | 345.3 |
| Total Mortgage Transactions | 6784 | 8734 | 9043 | 2398 | 9043 |
| Total Mortgage Value (AED bn) | 125 | 678 | 2445 | 456 | 456 |
| % of All Property Sales ( by value ) | 6% | 12% | 67% | 12% | 30% |
UAE Mortgage Market Value Trend (AED BN)
Key Insights:
Mortgage split by property type
Mortgage Split by Property Type (Value Basis)
| PROPERTY TYPE | TOTAL VALUE (AED BN) | MORTGAGE VALUE (AED BN) | MORTGAGE SHARE (%) |
|---|---|---|---|
| Apartments | 10246 | 984 | 10% |
| Serviced / Hotel Apartments | 9096 | 564 | 6% |
| Villas | 457 | 34 | 7% |
| Villa Plots | 270 | 98 | 36% |
Value
Apartments
Serviced / Hotel Apartments
Villas
Villa Plots
Key Insights:
Price Based Segmentation
Mortgage Value Segmentation by Price Band (2024)
| SEGMENT | PRICE BAND (AED) | MORTGAGE VALUE (AED BN) | MARKET ROLE |
|---|---|---|---|
| Affordable | < 1 Mn | 3.7 | Entry-level, Affordability-led borrowing |
| Mid-Market | 1 - 2 Mn | 4.5 | Entry-level, Affordability-led borrowing |
| Upper Mid-Market | 2 - 5 Mn | 7.8 | Entry-level, Affordability-led borrowing |
| Luxury | 5 - 12 Mn | 5.6 | Entry-level, Affordability-led borrowing |
| Ultra-Luxury (Emerging) | 12 - 20 Mn | 2.5 | Entry-level, Affordability-led borrowing |
| Ultra-Luxury (High-End) | 20 - 50 Mn | 8.4 | Entry-level, Affordability-led borrowing |
| Ultra-Prime | > 50 Mn | 7.4 | Entry-level, Affordability-led borrowing |
Key Insights:
The mortgage market has expanded in scale, but penetration remains structurally low
The mortgage market has expanded in scale, but penetration remains structurally low
The mortgage market has expanded in scale, but penetration remains structurally low
The mortgage market has expanded in scale, but penetration remains structurally low
Key Inferences & Conclusions
The mortgage market has expanded in scale, but penetration remains structurally low
The mortgage market has expanded in scale, but penetration remains structurally low
Sources: Public government data (Dubai Pulse) & Licensed market data (REIDIN)
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