Dubai’s real estate market continues to attract Canadians in 2025, drawn by its tax-free environment, high rental yields of 7-10% in areas like Dubai Marina and Downtown Dubai, and the allure of a vibrant, cosmopolitan lifestyle. With AED 45 billion in home loans secured by expats in 2024, Dubai offers a robust mortgage market for international buyers, including Canadians. Whether you’re seeking a vacation home, investment property, or a new residence, securing a mortgage as a Canadian expat or non-resident is achievable with the right guidance.
At Capital Zone Mortgage, we specialize in helping Canadians navigate Dubai’s mortgage process with ease. This guide explains how Canadians can secure a mortgage in Dubai in 2025, covering eligibility, the application process, and practical tips for success.
Why Canadians Are Investing in Dubai Real Estate
Dubai’s appeal for Canadians lies in its financial and lifestyle benefits. The absence of capital gains or property taxes maximizes investment returns, making it an attractive alternative to Canada’s taxed real estate market. Properties valued at AED 2 million or more qualify buyers for a 10-year Golden Visa, while AED 750,000 secures a 2-year residency visa, offering long-term residency options.
The city’s stable economy, world-class infrastructure, and high demand for rentals make it a prime destination for Canadian investors and homeowners. In 2025, Dubai’s real estate market remains a global hotspot, with steady appreciation and diverse property options.
Eligibility for Canadians Seeking a Mortgage
Canadian expats living in the UAE or non-residents can apply for a mortgage in Dubai, but lenders, regulated by the Central Bank of the UAE, have specific requirements. For Canadian expats with a UAE residency visa, a valid visa with at least one year remaining is typically required.
Non-resident Canadians can also apply, down payments of 35-40%. Most banks require a minimum monthly income of AED 25,000 for salaried individuals and self-employed Canadians, with two years of audited income proof. Salaried applicants need at least six months in their current job, while self-employed Canadians must demonstrate a stable business history.
Applicants must be at least 21, with the mortgage term concluding by age 65 (or 70 for some lenders). A strong credit history is crucial, verified through the UAE’s Al Etihad Credit Bureau (AECB) for residents or a Canadian credit report (from Equifax or TransUnion) for non-residents. Mortgage payments cannot exceed 50% of monthly income to ensure affordability, aligning with UAE regulations.
Mortgage Options for Canadians
Dubai offers various mortgage products suited to Canadians’ needs. Fixed-rate mortgages provide stable payments for 1-5 years (or up to 10 with some lenders), though rates are slightly higher. Variable-rate mortgages, tied to market conditions like EIBOR, offer lower initial rates but carry the risk of fluctuations. Interest-only mortgages allow paying just the interest for up to five years, ideal for investors anticipating future income growth.
Sharia-compliant Islamic mortgages, such as Murabaha or Ijara, are available through banks like Dubai Islamic Bank. Off-plan mortgages cater to under-construction properties, with up to 50% loan-to-value initially, increasing after handover.
Steps to Secure a Mortgage in Dubai
Begin by assessing your finances using a mortgage calculator to estimate repayments and borrowing capacity, ensuring savings for a 35-40% down payment, as required for expats and non-residents. For Canadian expats, check your AECB credit report; non-residents should obtain a Canadian credit report to confirm financial standing.
Gather required documents, including a valid Canadian passport, UAE residency visa (or Emirates ID for residents), salary certificate, payslips, six months of bank statements (from Canada or the UAE), credit card statements, proof of liabilities, and the Sale and Purchase Agreement (SPA) for the property. Self-employed Canadians need a trade license (if operating in the UAE) and audited financial statements.
Obtain pre-approval from a bank or a trusted broker like Capital Zone Mortgage to confirm your borrowing limit, strengthening your offer with sellers (valid for 60-90 days). Select a property in freehold areas like Dubai Marina, Palm Jumeirah, or Downtown Dubai, where foreigners can own property, working with a RERA-certified agent.
Submit your mortgage application with all documents, and the bank will conduct a property valuation to determine the loan amount. Pay upfront fees, effective February 1, 2025, including a 4% Dubai Land Department (DLD) fee, 2% brokerage fee, AED 4,200 trustee fee, and AED 500 title deed fee, totaling 6-7% of the property price, which cannot be financed.
Accept the bank’s loan offer, sign the mortgage agreement and SPA, and purchase mandatory property insurance (0-0.12% of property price annually). Register the property with the DLD, pay the down payment, and the bank will disburse the loan to the seller or developer. Begin monthly repayments, keeping them within 50% of your income.
Top Banks for Canadian Borrowers
Several UAE banks cater to Canadian expats and non-residents with competitive mortgage products. Emirates NBD offers SmartLoan AI for quick pre-approvals and flexible terms for residents and non-residents. Mashreq Bank provides up to AED 10 million in financing and 0.25% lower rates for Golden Visa holders. With Mashreq, non residents can also get an LTV of up to 65%.
HSBC UAE, with its global network, is ideal for Canadians, offering up to 60% loan-to-value for non-residents and competitive rates for residents. Dubai Islamic Bank specializes in Sharia-compliant options for those seeking Islamic financing.
Commercial Bank of Dubaiand RAKBank
Practical Tips for Canadians
Partner with a mortgage broker like Capital Zone Mortgage to compare offers and secure favorable rates, as we’ve achieved 0.5% discounts for many clients. Save for a larger down payment to reduce the loan-to-value ratio and improve approval odds. Maintain a strong credit profile in Canada or the UAE by paying off debts and avoiding missed payments. For non-residents, ensure Canadian financial documents are readily available, as banks may request additional verification. Consider off-plan properties for higher appreciation potential, but verify the developer’s reputation to avoid delays. Explore Golden Visa benefits, as qualifying properties can unlock better mortgage terms.
Why Choose Capital Zone Mortgage?
At Capital Zone Mortgage, we understand the unique needs of Canadian buyers in Dubai. Our RERA-certified team partners with top banks like Emirates NBD, HSBC, and Mashreq to secure the best mortgage terms for you. We streamline the process, from pre-approval to property registration, ensuring a hassle-free experience. With our expertise, we help Canadians achieve their property goals in Dubai’s dynamic market.
Ready to own a property in Dubai? Let Capital Zone Mortgage guide you through the mortgage process with tailored solutions for Canadians. Contact us today at www.capitalzone.ae or book a free consultation to get pre-approved and start your journey to owning a home or investment property in Dubai in 2025. Take the first step toward your Dubai dream now!
Disclaimer: Mortgage rates are subject to change. Consult Capital Zone Mortgage for the latest mortgage UAE information and personalized advice.
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