Dubai 'offers facilities' for overseas property investment

04/06/2009 - Dubai Property News
Dubai 'offers facilities' for overseas property investment

The Dubai property market offers the strength and financial facilities to make it an attractive option for overseas real estate investors, one analyst has claimed.

Commenting recently Mike Bridge, organiser of the Worldwide Property Show, said that it has become markedly easier for overseas investors to buy property for sale in Dubai because mortgage lending has opened up considerably.

He explained that while in the past potential buyers would only have been able to secure a mortgage loan equivalent to 60 per cent of the value of a property for sale in Dubai, it is now common for people to be approved for 85 per cent loan-to-value rate mortgages.

"The country has the facilities to encourage overseas investors to buy a holiday home. I'd rather have the facilities in Dubai than in southern Spain when it's raining," said Mr Bridge.

A recent report published by HSBC has shown that transactions on Dubai property for sale were up in both April and May.ADNFCR-2019-ID-19203781-ADNFCR