Competitive market boosts buying in Dubai

24/08/2009 - Dubai Property News
Competitive market boosts buying in Dubai

Written by Neil King

People are increasingly looking to buy Dubai property for sale, according to one expert.

The housing market in the emirate has become more attractive to buyers and end users thanks to its competitive lending ratios, according to Ahmet Kayhan, chief executive officer of Reidin.com.

During the economic downturn, moves by banks to make mortgages more competitive have ensured the uptake of home loans, he explained.

This comes as a quarterly rise in mortgage values was shown in the latest DUBAIFocus report from the organisation, in conjunction with the Real Estate Regulatory Authority and the Dubai Land Department.

In the three months leading up to June, the market rose to eight billion dirham (£1.3 billion), compared to seven billion in the first quarter.

"It is no surprise that Dubai's mortgage market has amounted to such staggering value," Mr Kayhan commented.

This may be good news for those looking Dubai property investments.

Furthermore, the rental market in the country is also starting to gain momentum, according to the Landmark Advisory in an interview with Emirates Business 24/7.
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