Islamic mortgage customers could find bargains in Dubai

Wed, 20 Jul 2011
Islamic mortgage customers searching for bargains might be wise to cast their eye towards Dubai, it has been suggested.

The Emirate is offering some "fantastic deals" at the moment, with property investors able to grab bargains in a market that has suffered as a result of the financial downturn, according to BuyAssociation.

New-build projects in particular are offering some "great" deals to international mortgage clients, editor Paul Collins noted.

He added that Brits are tending to look for opportunities that have added incentives on offer.

"In the general overseas property market, there are people around buying at the moment, but everything has to have an extra incentive - whether it is 100 per cent finance or substantial discounts from the perceived market value," Mr Collins said.

The expert's comments follow new figures from Cluttons, which show that residential rents in Dubai fell again in the second quarter of 2011.

Despite this, the rate of decline slowed and some could believe that the housing market in the Emirate may be set for a turnaround.
Salaam-u-Allaikum
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