Rent-to-buy schemes will boost UAE property market

07/09/2011 - Northern Emirates Property & Investment News Posted by Neil King
Rent-to-buy schemes will boost UAE property market

Investors keen to break into the UAE property market could be among those interested in the recent comments of one expert.Matthew Green, head of research and consultancy at real estate firm CB Richard Ellis in Dubai, has welcomed the growth of rent-to-buy schemes, saying they could provide the market with a welcome boost.However, in an interview with Arabian Business, the expert issued a warning to tenants to make sure the figures involved are "realistic"."In principle I think the scheme is a good idea, and could help to encourage and enable further investment for end-users looking to join the property ladder," he told the news provider."However, this is on the presumption that the rental rates and the final sales price that are offered by the developer are actually in line with reality."The comments come after Aldar Properties, one of the largest property development firms in Abu Dhabi, announced the launch of a new rent-to-own programme for units at its Raha Beach development.