Improvements to structure and organisation in the UAE property market is set to entice more foreign buyers to make a purchase, news.silobreaker.com reports.
Ahead of the 2007 financial crash, the UAE was one of the strongest property markets on earth, with rising prices offering buyers an almost guaranteed return on their investment. This aggressive growth also brought about a severe decline, however, with the crash eventually having a huge impact.
Now, it seems this period of hardship is behind the UAE once more and it is now focusing on the property market - more specifically on encouraging more foreign buyers to take the plunge by improving market structure and organisation.
Improvements to the market have already been witnessed, with interest being registered by investors from Syria, Egypt, Iran and Pakistan. As the area becomes yet more stable, this is expected to expand much further still, with investors from all over Europe and Africa expected to consider property investments.
Analysts have claimed these results could provide a perfect storm for the UAE property market, with them coming just as banks begin offering mortgages to non-resident investors once again. As such, the upcoming UAE real estate show, 'Cityscape Global', is set to attract huge interest from overseas property buyers.
Commenting on the increasing positivity, head of retail banking group Mashreq, Farhad Irani, told gulfnews.com: "There are many expats based in the region originating from the subcontinent, Europe, the UK and the US.
"They feel comfortable here and may want to make Dubai, Abu Dhabi or Sharjah a part of their home stay, either primarily or as a second home for when they retire or evolve in their careers."
Author
David Howells