29.01.2013 - UAE property prices at pre-crisis level - Al Ghurair
UAE property values have returned to their pre-crisis levels and in many cases have climbed higher, Emirates Banks Association (EBA) chairman Abdul Aziz Al Ghurair said. Real estate prices started to rebound last year after Dubai suffered one of the world’s worst property market crashes following the 2008-09 credit crisis. Al Ghurair said the recovery had helped to limit banks’ losses to an average 0.15 to 0.20 percent of the industry’s total home loan book. “That’s healthy,” he said. “Mortgage lending has been low risk so far...............................................Full Article: Source
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