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 Dubai property finance industry "maturing"
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Monday, April 16, 2007 |
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Financing for the purchase of property in Dubai and other cities in the United Arab Emirates (UAE) is a market that is maturing quickly, according to DubaiVenture.com…
A series of interviews held by DSL Exhibitions revealed that people that have purchased property in Dubai and other cities in the UAE believe that the mortgage industry has undergone substantial improvement in the last five years.
Three-quarters of the people surveyed said that the UAE has become a more competitive market for mortgages in recent years, with more products coming onto the market.
Mohana Rao of Ideal Management Essentials, one of the company’s involved with the Resale and Rental (R&R) Property Show this year, said that the mortgage market in the UAE has more growing to do but looks set for expansion in the near future.
Ms Roa explained: "In the short-term all banks will offer property finance services, however in the long run the financial institutions will begin to design tailor-made products to better suit their customers. Requirements such as payments terms, tenures, minimum salary requirement, down payments, charges and so on".
Tessa Morris, marketing director for exhibition organiser DSL Exhibitions, said the poll had been carried out to understand the issues facing consumers and offer an "opinion snapshot" to exhibitors.
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