Property in Dubai ‘cheaper than elsewhere’

Posted 31 Dec 2008

House prices in Dubai are lower than in other major cities around the world and there is a lot of scope to earn money on some, an industry expert has suggested.

The city has been affected by the current economic climate, explained homesgofast.com, but not at such a rate as other locations have.

Once confidence is returned in the market then the low house prices might mean there is even greater demand for property.

"I consider Dubai as one of the safest places to buy real estate abroad," said chief executive officer of the website Nicholas Marr.

For those who want to teach English in the United Arab Emirates (UAE) or to escape the British weather, now might be a good time to buy in Dubai.

People might be able to afford property they could not a few months ago, added Mr Marr and some developers may offer incentives.

Research from Global Realty Partners showed that last year, 15 per cent of properties in UAE were owned by people from the country – compared to 40 per cent bought by Asians and 20 per cent by Europeans.

Category: Moving Abroad