Ajman is in the limelight as a prospective real estate hotspot in the UAE, and it is most of all appropriate for expats seeking affordability without compromising quality lifestyle. Urban development, connectivity, and investor-friendly real estate laws in Ajman have facilitated to Buy Apartments in Ajman than ever before. Expats planning to stay and invest must be well aware of the mortgage situation while making a smart buy.

Is Ajman Expats Eligible for Mortgages?

Expats can avail the mortgage facilities from the UAE banks provided they qualify for the qualifying conditions. Most of the leading banks have mortgage packages specifically designed for the non-UAE nationals, and it is easy to be part of the bandwagon of property buyers.

Minimum qualifying conditions are:

  • Minimum income: AED 10,000 (one or two big banks accept AED 7,000 if employer is in their pre-approved list)
  • Age: 21 to a maximum of 65 years at loan maturity
  • Tenure: Max. 25 years based on income and age
  • Down payment: Min. 20% of property value
  • Residency: UAE residence visa and Emirates ID valid

The size of the mortgage will usually be calculated based on your income, debt, and credit rating. Your debt-to-income ratio should be under 50% in order to get the best interest rates and largest loan sums.

Fixed vs. Variable Rate Mortgages


Types of mortgages should be familiar when searching for Apartments for sale in Ajman. There are two common mortgage interest rate options available in the UAE: fixed-rate and variable-rate mortgages.

  • Fixed-rate home loans provide a rate of interest on a term in years, 1 to 5 years, usually. They start at around 3.25% interest, providing the promise of planning.
  • Variable home loan rates are based on the Emirates Interbank Offered Rate (EIBOR) and are subject to changing market conditions. New variable rates range from around 3.49%.

Fixed loans for individuals who need security, although variable-rate house loans are fewer in the short run but involve greater risks considering rate changes.

Leading Banks Providing Home Loans to Expats

A number of UAE banks provide mortgage facilities to expat consumers buying property in Ajman. Some of them are:

  • Emirates NBD
  • RAKBANK
  • Mashreq Bank
  • ADCB

All these banks offer varying terms and conditions in the form of interest rates, tenor, processing fees, and early settlement charges. Processing fees typically range from 1% of the loan amount, and property valuation charges typically range from AED 2,500 to AED 3,000. Early settlement charges typically range from 1% of the outstanding principal.

Financing Various Types of Properties in Ajman

Expats can be offered a range of properties in Ajman. For those looking for affordable homes or investment, to Buy studio flat in Ajman is a practical and affordable alternative. The studio flats typically range from AED 150,000 to AED 250,000, which is an affordable price for first-time purchasers with a down payment of 20%.

Largest one and two-bedroom apartment prices are from AED 250,000 to AED 500,000. Those are perfect for small families or for investors in search of long-term rental return on investment.

If you are in search of move-in apartments, fitted-out apartments are plenty, especially in the sought-after locations like Al Nuaimiya, Al Rashidiya, and Ajman Downtown. Furnished apartments in Ajman are very likely to command high rental prices, and that is a great choice to create passive income.

Is Ajman Property Investment a Good One?

Yes. Compared to the other emirates like Dubai or Abu Dhabi, Ajman is found to be reasonable and have good rental returns. Some of the reasons that it is a proper investment for the expats if they need to invest in Ajman properties are enumerated below:

  • Reasonable property prices: Studio flats are 30–40% less expensive in value than the similar-sized apartments in Dubai.
  • High rental returns: Studios return 8% annually; larger apartments return 6–7%.
  • Low cost of living: Ajman daily cost of living is extremely low, which increases its attractiveness.
  • Investment-friendly policies: Freehold property implies that expats can own legally.

Room for growth in Ajman, facilitated by urbanization and government-supported projects, promises stability in long-term appreciation in value.

Legal and Documentation Requirements

All mortgage deals must be registered under the Ajman Land Department. For foreign people, procuring property in Ajman within specified areas of freeholds is fundamental in acquiring ownership rights for buying.

Following are the documents which must be shown to provide the mortgage:

  • Copies of the passport
  • Current UAE residence visa copy
  • Document of Emirates ID
  • Trade license or certificate of salary (for individuals who have no boss because they work themselves)
  • Bank account statements between the period of 3 months up to 6 months
  • The latest salary slips

When you deliver documents, banks verify the credit check, followed by legal checks and property valuations. Upon approval, a Letter of Offer will be sent for your signature prior to funds being paid.

Ajman Land Department will also charge 0.25% of the mortgage loan as a registration fee. Aside from this, you will have to sign a Sale and Purchase Agreement (SPA) and sign on a title deed at registration.

Developer Installment Plans versus Bank Mortgages

Expats can look for developer-backed installment plans when buying property in Ajman. These allow you to pay the developer in installments over a period of 3–7 years, usually interest-free.

Advantages of developer schemes:

  • 0% interest for 3–7 years
  • No mortgage registration needed
  • Typically have a lower down payment

Although handy, the scams also have shorter tenures and less flexibility. Bank mortgages provide longer tenures and better protection to buyers, especially if buying from a registered developer.

The Bottom Line

Ajman offers expats low-priced property and decent yields, supported by UAE bank-friendly mortgage financing. When buying a studio or a fitted flat, investors have the benefit of low-interest and decent infrastructure. For mortgages, listings, and professional guidance to begin your property hunt, visit www.ajmanproperties.ae.