Dubai property market evaluated
More than Dh30 billion worth of property is projected to be released in the Dubai market in the next 3 years. While the property sector sold Dh7 billion worth property, Dh4 billion was financed through mortgage channel. Currently, the market has premium levels ranging from 10 to 30 per cent.
According to Adel Ahmed Lootah, executive director, Dubai Property Group, rents are projected to remain high up to a point in time when market is leveraged enough to find alternate source of finance.