Dubai-based proptech Huspy announced on Wednesday that its mortgage unit in the UAE has processed a record over AED1 billion ($270 million) in home financing in November 2023.
This milestone also sets an industry record for the UAE’s retail mortgage lending sector for a single-month transaction, the company said in a media statement.
The surge in home financing comes amid the UAE’s property market continuing to see strong demand across off-plan projects, affordable homes, luxury residences, and secondary sales.
As a single platform to find and finance a home, Huspy enables its customers to close on their preferred property faster, the company said.
The company provides finances through its partnerships with all leading UAE banks, offering a range of most competitive interest rates starting from as low as 4.24 percent for a fixed three-year basis.
“The demand for home ownership in the UAE has been unparalleled, and with the use of cutting-edge technology, Huspy has grown faster than the market which is a proud achievement for us,” Fouad Chemlati, General Manager of Mortgages, Huspy said.
The UAE’s strong economic resurgence, world-class lifestyle, and affordable financing have led more people to choose to build their lives here and they are choosing Huspy to secure the best mortgages, he added.
Homebuyers who select Huspy on average apply for a loan amount of AED1.8 million.
The company supports streamlined pre-approvals which are faster than the industry standard, Huspy said.
Currently, popular areas in the UAE for home financing include Business Bay, Downtown Dubai, Jumeirah Lake Towers, and Jumeirah Village Circle.
Huspy, which is redefining home buying in the Middle East and Europe, said it has attracted talent from the global startup ecosystem to its offices in Dubai and Madrid, as it advances its vision of growing from the UAE to the world, setting a new benchmark for Middle East innovation.
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