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Real Estate Briefing - Categorized | Market Moves, Middle East and Africa, Mortgage more

UAE mortgage rule confusion see housing market boom

Posted on 24 January 2013

Amid confusion and speculation over upcoming changes in the rules governing mortgages [in the UAE], nationals and expats are rushing to buy homes in the strongest property market since 2006.
According to a Dubai Municipality official, who declined to be named, “We witnessed a hike in sales as of the beginning of this year. As of January 21, 2013, we have witnessed transactions amounting to Dh490 million compared to mere Dh200 million for the same day last year, a rise of 160 per cent.”……………………………………….Full Article: Source


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