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Posted: 18 Jan 2014 | 6:00 am
The UAE (United Arab Emirates) has seen legislation introduced this January into the real estate sector which is aimed to address loan coverage and consumer protection.
In a circular from legal firm DLA Piper LTV''s (Loan to Value) limits on expatriate property buyers have been set at 50% for off plan purchases.
Clearly this move is set to address property speculation and ensuing defaults.
Maximum loan terms have been set at 25 years.
Also addressed is wider disclosure of mortgage documentation.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
Koh Phi Phi's Zeavola resort has won a five-star award in the sustainable hotel in Thailand category.
A wide-spread public outcry over a proposed coal-fired power plant in nearby Krabi has seen the project's environmental permit denied.
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