Confidence 'growing' in overseas property

15/04/2010 - Dubai Property News
Dubai property investment opportunity - The First Group
Confidence 'growing' in overseas property

Posted by Neil King

Confidence is growing in the overseas property market, which may lead more people to buy Dubai homes, new research has found.

The findings from overseas mortgage firm Conti stated that it has had its busiest month for people applying for mortgages in almost a year, with it rising 48 per cent in March.

According to the company, there is also more availability of products, with firms being more open to lending to foreign investors.

Clare Nessling, operations director at Conti, said: "Confidence is definitely growing, but there's also an element of buyers snapping up bargains in traditional hotspots while they have the chance."

She added that where the pound is not strong in exchange rates at the moment, cash buyers could consider taking out a mortgage and paying it off when the pound becomes stronger.

However, Rhiannon Davies, co-founder of property advice website Shelter Offshore, said property investors are still wary, due to recent volatility in the global market.

Dubai property investment opportunity - The First Group