Dubai market for those moving abroad
27 August 2009
The Dubai property market is gaining confidence, it has been stated, which may be good news for those seeking property abroad.
Chief executive of property portal Homesgofast.com Nick Marr said that it is "difficult" to be too optimistic about mortgages because lending to non-nationals is "restrictive", but noted that rates are on the way down.
He added: "The confidence that is slowly coming back to the UK housing market is starting to boost confidence in the UAE."
Mr Marr explained that this was because the improvements in the UK are expected to feed into more tourism and an influx of foreign workers.
As a result, Dubai realtors are increasingly thinking "the worst is over" in the market, he noted.