10.10.2008 - ME: Property rules deter foreign investors
From Khaleejtimes.com: Legislative measures to combat property price escalation have made Gulf property market, where more than $2.39 trillion worth of projects are etimated to be under construction, less appealing for some foreign investors, according to a study released at the Cityscape 2008. Measures including rental caps, restrictions on property transactions and possible capital gains taxes initiated by some GCC countries have dampened global investors’ interest to some extent, said the “Gulf Real Estate Study” released by Futurebrand’s 2008. “Kuwaiti authorities have banned residential property trading in an effort to curb inflation, while similar restrictions have been announced in Dubai,” the study said..... Full Article: Source
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