Real estate shares take a beating on new UAE mortgage rules | GulfNews.com:
"Property developer’s shares took a beating on Tuesday after the new UAE Central Bank regulations on mortgage exposures on property purchases in bid to tame price increases.
Expatriates will get 75 per cent of the property value while the UAE nationals will get 80 per cent for first investment of less than Dh5 million. The regulatory bank has set the upper limit on mortgages for second purchases at 60 per cent of a property’s value.
The cap would ensure that speculation was brought down to manageable levels and more importantly, it would curb access to easy money."
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