Property prices in Dubai on the increase

01/06/2009 - Dubai Property News
Property prices in Dubai on the increase

Those with investment property in Dubai may welcome research from HSBC which shows that property prices are rising in the emirate.

The new Property Ladder study shows that there has been a marked growth in the UAE property sector, in part spurred by a relaxation of maximum loan-to-value (LTV) rates that have allowed more people to get on the housing ladder.

"Anecdotal evidence also suggests that foreign investors seem to be back in the market and there are bulk buyers of property for investment purposes," the report claimed.

Cash has continued to be the dominant force in UAE property sales, although mortgages are gaining ground and are becoming an important part of the market, the study goes on to state.

In March, HSBC announced that it would be relaxing its lending criteria for those looking to buy property in Dubai and elsewhere in the UAE, with the company now offering an LTV rate of up to 75 per cent on villas, 70 per cent on completed apartments and 50 per cent on off-plan property.ADNFCR-2019-ID-19196697-ADNFCR