Dubai ‘to bounce back as international property destination’
02 October 2009
Dubai is set for a comeback as an international property destination, it has been predicted.
The emirate will see a rise in values of between four and six per cent per year up to 2015, according to a new report from international property agency Chesterton.
Commenting about the study, chairman of Chesterton International Salah Mussa stated that this means now is a good time to invest.
He said: "Domestic and international buyers now have the opportunity to take long-term investment decisions and purchase property at the bottom of the market before the economy starts to grow."
Mr Mussa listed a number of factors as reasons Dubai will grow, including its improving infrastructure, tourism growth and its accessibility from London, India and the rest of Asia.
These will combine with its "high quality" rental prospects to make it a good place to invest, he stated.
International property research firm Jones Lang LaSalle, recently identified Dubai and Abu Dhabi as among the best places to make a long-term property investment in the Middle East and North Africa region.
Source: Halifax International