It can impact down payment requirements when getting a mortgage.
AED
AED
AED
20%
2.5%
7.5%
25 years
4.5%
3%
3%
5 years
45%
Buying is 45% cheaper than Renting on monthly basis
Renting costs AED 108k more than buying if you stay in Dubai for 5 years
Rent Cost Breakdown
Monthly Rent
AED 9,000
Annual Rent Increase
3%
Security Deposit
AED 9,000
Commission (5%)
AED 5,400
Total Rent Cost (5 years)
AED 580,185
Buy Cost Breakdown
Down Payment
AED 400,000
Closing Costs
AED 50,000
Monthly Mortgage
AED 12,584
Maintenance (1% annually)
AED 1,667
Property Tax
AED 0
Home Appreciation (5 years)
+ AED 318,550
Net Buy Cost (5 years)
AED 472,185
Monthly Rent:
AED 9,333
Total Rent Over 5 years:
AED 580,185
