Finance options opening up for investors in Dubai property is good news

22 August 2008

“The recent news that the National Bank of Dubai is preparing to offer mortgage finance for UK residents looking to invest in property in Dubai brings welcome news”, says Gary Clayton of Principal International, one of the UK’s leading overseas property investment experts.

The package which has been put together with a leading UK finance broker means that the mortgages can be arranged in local currency (Dirhams) with a guarantee of efficient and quick processing in the UK. This means that for investors, buying property in Dubai has never been easier.

Principal International say that with the prospect of between 10 - 15% rental yield in some cases the news for investors is still good despite the much publicised hype about an over inflated market which is reported to be suffering from oversupply.
The recent capping of rent by the authorities has done nothing other than stabilise the property market and despite the huge volumes of completed units coming to the market between now and next year, the news for non occupant investors is still good as the population keeps growing and outstripping expectations. Principal International say that the luxurious lifestyle an average resident can enjoy far exceeds any experience than in most other countries, and this is what will keep the property market booming, as well as the tax free salaries of course.

Not withstanding that, the recent announcement that Dubai has developed a strategic plan at the beginning of the year which sets out its infrastructure development until 2015, will almost guarantee DGP growth of 11% per year. This long term commitment can only be a good thing for the investors looking for long term returns in what can only be described as a growing market.