Dubai property buyers prefer apartments, expert says

08/09/2011 - Dubai Property News Posted by Neil King
Dubai property buyers prefer apartments, expert says

Property investors with interests in Dubai could be among those interested in the latest comments of one expert.Purchasers in the region often debate whether or not to invest in villas or apartments, and according to Landmark Properties, the latter are currently of more interest.Charles Neil, the firm's chief executive officer, told Emirates 24-7 in the third quarter of this year that apartments make up the majority of purchasing decisions.Indeed, the expert claimed that some 60 per cent of buyers are currently opting for apartments, compared to 40 per cent choosing to buy villas."Buyers are looking to buy either category of property , what is important to understand is what point of view buyers are coming from , are these properties that they want to live in themselves or are they for investment purposes only?" he told the news provider.Mr Neil said that the information could help investors make buying decisions and urged them to think financially, rather than dwell on personal preferences."The driver behind an investment property is purely financial, and it is not necessarily a property which the investor himself would choose to live in. In fact many amateur investors make a big mistake by trying to combine the two and end up overspending on the property to make it look nice and bring down yields accordingly," he added.