While what we may be facing in the U.A.E. property market might not be as critical as what the people in Mumbai are going through, I am certain there are some factions who would wring their hands with the same distress.
Currently, the main thing on everyone’s minds in the Emirates including investors in Dubai freehold properties and sale properties is the credit situation. Staff cuts are expected in such a scenario and many development houses and real estate companies in U.A.E. have no option but to let go.
There are definitely Dubai villas for sale and other sale properties in Dubai available for a significantly lower cost than what they were at in September. Dubai real estate consultants are finding fewer takers though thanks to the limited borrowing options available for investors.
The banks are unrelenting with HSBC already curtailing loans for those earning Dh20, 000 per month in Dubai. Those who have the resources kept aside to buy a house in Dubai are the ones enjoying though. Rather than renting properties in the Emirate and paying through their teeth, for this group of people Dubai real estate investments are infinitely much more attractive.
Check with a reliable and recognized real estate company in Dubai if your finances are in a position to allow you to enjoy the current U.A.E. property market. MEREC Dubai, for instance offers comprehensive solutions- from consultancy and capital raising to property search and development options.
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