Dubai now more affordable, report shows

12/07/2011 - Dubai Investment News Posted by Neil King
Dubai now more affordable, report shows

nvestors keeping a keen eye on the Middle East could be tempted to purchase a new property in Dubai following the publication of a new report.Research recently published by Mercer has shown that the emirate dropped 26 places to 81 on the list of the world's most expensive cities.This could potentially make the region more attractive to foreigners, which could have a positive effect on the rental market.Callum Burns-Green, chief of Mercer's Dubai office, said: "Dubai in particular has witnessed a reduction in accommodation costs since 2009 as the strong supply of property coming on to the rental market has reduced the shortage that existed in the several years prior to 2008."The government has also announced plans to control inflation in other key areas such as the cost of food."However, while Dubai moved in the right direction, nearby Abu Dhabi has become more costly and is now officially the most expensive place to live in the UAE.Posted by Neil King