UAE-headquartered proptech startup Huspy which is redefining home buying in the Middle East & Europe, has announced that its mortgage unit in the UAE has processed a record AED1 billion+ ($270 million) in home financing in November.

This milestone sets an industry record for the UAE’s retail mortgage lending sector, with no financial institution crossing the AED1 billion mark previously in a single month, said the company in a statement.

Today, Huspy is recognised as the UAE’s largest mortgage platform with consistent growth despite interest rate hikes in 2023, it stated.

The UAE’s property market continues 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. Through its partnerships with all leading UAE banks, resident and non-resident customers can choose from the most competitive interest rates starting from as low as 4.24% for a fixed three year basis.

"The UAE’s leadership with its future-centric vision has laid the right foundations to build a thriving startup ecosystem, which has enabled Huspy to evolve into a proptech leader and the largest mortgage platform," noted Fouad Chemlati, General Manager of Mortgages, Huspy.

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, he stated.

Chemlati pointed out that this milestone of AED1 billion+ in November 2023 is indicative of the trust home buyers have in Huspy and its commitment to delivering a category-defining home buying experience.

"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, meaning customers are able to secure financing for their home with greater confidence," he stated.

"Currently, popular areas in the UAE for home financing include Business Bay, Downtown Dubai, Jumeirah Lake Towers, and Jumeirah Village Circle," he added.

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