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Property Prices in the Emirates on the Rise

Those with property investment and property management interests in the UAE may welcome research from HSBC which shows that property prices are rising in the emirates.

The new Property Ladder study shows that there has been a marked growth in the UAE property sector, in part spurred by a relaxation of maximum loan-to-value (LTV) rates that have allowed more people to get on the housing ladder.

“Anecdotal evidence also suggests that foreign investors seem to be back in the market and there are bulk buyers of property for investment purposes,” the report claimed.

Cash has continued to be the dominant force in Abu Dhabi real estate
and Dubai real estate sales, although mortgages are gaining ground and are becoming an important part of the market, the study goes on to state.

In March, HSBC announced that it would be relaxing its lending criteria for those looking to invest in Dubai’s property and elsewhere in the UAE, with the company now offering an LTV rate of up to 75 per cent on villas, 70 per cent on completed apartments and 50 per cent on off-plan property.

Speaking at the Cityscape Connect business breakfast, UAE real estate specialists including the chief executive of Dubai-based property agency Asteco, Elaine Jones and Steven Henderson, partner in legal firm Clifford Chance, concurred that the prospects for strong growth were becoming evident.

“Industry sentiment has moved into positive territory and it is equally important that Cityscape through the Connect series of events continues to provide a platform for open debate,” said Rohan Marwaha, managing director of the company.

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One Response to “Property Prices in the Emirates on the Rise”

  1. Property prices are increasing day by day in so many countries. Off plan property benefits to both investor and developer. In many cases if a borrower buys the off plan property it means the property is more worth.

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