pure investors will start to buy property in dubai again
News Posted On: 29 April 2009
Investors are likely to return to the Dubai real estate market to buy property in the emirate, it has been claimed.
According to Robin Wilson, head of overseas at Rightmove.co.uk, the region in the United Arab Emirates has "fallen from favour" among buyers from the UK.
However, he asserted that "pure investors" will start to return to the market despite the recent decline in prices in the emirate.
In the first three months of 2009, Colliers International reported that the cost of property in Dubai fell by more than 40 per cent compared to the final quarter of 2008.
"If you were actively considering Dubai before the crunch hit as a second or holiday home, you probably still are, but your money will go a lot further now," Mr Wilson commented.
In March, Primelocation.com reported that the United Arab Emirates was the seventh most searched for destination on the site.
Written by Les Calvert
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