Property investors set their sights on UAE

Is your high street bank ripping you off

New figures have suggested the UAE is right at the top of the tree when it comes to potential property investment.

Falling property prices, particularly in Dubai, and value for money properties in the region have caught the eye of investors.

A statistical report on the Gulf Common Market showed a significant increase in the number of registered real estate contracts held by Gulf nationals in the UAE. The latest statistics show that the number of contracts has increased from 4,024 in 2009 to 4,604 in 2010.

“These figure suggest there are properties available that have reached as good price at which people can afford to buy,” said Elaine Jones, CEO of Asteco Property Management.

“Property purchases (that people) committed to previously are now being realised and registered as the projects are completed, and secondly there continues to be an interest in buying property in the UAE despite the economic downturn,” she added.

The waiting game

It appears as though a number of people waited to see if conditions improved and consequently were forced to sell at discounted rates. This has led to a whole host of attractive investment opportunities in the area.

Market analysts feel that the number of Gulf nationals buying property in the UAE shows that the country’s property market is a viable and thriving long-term investment.

“Investment in completed property that meets the rental market’s checklist of requirements has historically been a safe method to protect and generate wealth,” Jones said.

Transfer Money to the UAE

If you are looking to invest in the UAE, think carefully about how you will be transferring money to the UAE. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to the UAE – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Property investors set their sights on UAE

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