Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Islamic law and Civil lawIslamic law and Civil lawIslamic law and Civil lawA.1.1
Are there specific laws that deal with mortgages? YesYesYesA.1.2
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?YesYesYesA.1.3.1
Typical number of days needed for the transfer of title1.502.006
WDI
A.1.3.4
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Are there subsidies to households on housing finance?YesYesYes
Government of Dubai, category=Citizens
B.2.1
Interest rate subsidies by special government fundsYesYesYes
Government of Dubai, category=Citizens
B.2.1.1
Down-payment subsidies YesYesYes
Government of Dubai, category=Citizens
B.2.1.3
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) NoNo 
HOFINET
C.1.1
Property transaction taxes (purchase/selling)YesYes 
HOFINET
C.1.2
Tax on capital gains on property NoNo 
HOFINET
C.1.5
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Notes: 2013 Figures available only till September
Notes: 2013 figures available only till September
Notes: Al Etihad Credit Bureau started operations in May 2014
Notes: Central Bank
Notes: Central Bank
Notes: Dubai and Ras Al Kamiah do not fall under the same legal system.
Notes: Dubai and Ras Al Kamiah do not fall under the same legal system.
Notes: For Nationals: Property under US$1.36 mn - LTV 80%, above 1.36 mn- LTV 70%. For Expatriates - 75% ,65% respectively
Notes: For Nationals: Property under US$1.36 mn - LTV 80%, above 1.36 mn- LTV 70%. For Expatriates - 75% ,65% respectively
Notes: Funding from foreign banks and corporations
Notes: Funding from foreign banks and corporations
Notes: Funding from foreign banks and corporations
Notes: Funding from foreign banks and corporations
Notes: Grants to buy houses are issued for low-income households
Notes: Grants to buy houses are issued for low-income households
Notes: Grants to buy houses are issued for low-income households
Notes: Grants to buy houses are issued for low-income households
Notes: Interest free loans are offered under SZHP Program
Notes: Interest free loans are offered under SZHP program
Notes: Interest free loans are offered under SZHP Program
Notes: Interest free loans are offered under SZHP Program
Notes: LTV values are capped at 80%
Notes: LTV Values are capped at 80%
Notes: LTV values are capped at 80%
Notes: LTV values are capped at 80%
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit
Notes: Net Domestic Credit