More investment property loans for Dubai?

November 7, 2008 by OPPE News

Dubai could get a greater variety of investment property loans, including buy to let mortgages, a leading real estate boss has said.

The UAE state will also withstand the current economic turmoil which has hit other markets, Cliff Kelaita, the chief executive Landmark Properties added.

He expects more people to buy Dubai homes and rent them to end users, while existing owners could also become landlords to help them pay off their mortgages.

Mr Kelaita made the comments after the analytics division of Landmark Properties, Landmark Advisory, examined Dubai’s demand patterns.

He said:

“Even if some projects get delayed or restructured in the short term as developers adapt to current challenges, we are optimistic about the market’s strength and growth potential.”

Last month Landmark Advisory published a report examining what impact global financial issues would have on Dubai’s property market.

The firm has also examined prices per square foot in the emirate and found the centre of Dubai was the priciest region.

Rates there stretch to AED 6,387 per square foot on The World development, in comparison to south Dubai, where figures drop as low as AED 1,108 in the City of Arabia complex.