Dubai expats to benefit from continued economic growth
03/06/09 19:00
Expats in Dubai are set to see the benefit of the region's string property market, it has been claimed.
Despite the global economic downturn hitting building projects across the world - including in Dubai - it has been suggested that the emirate is well-placed to attract investors back to the market as the recession eases, which will boost the local economy.
Mike Bridge, organiser of the Worldwide Property Show, said that the property market had improved and it would see the return of foreign investment because many factors were in its favour.
He explained cheaper property prices, good weather and good infrastructure would mean that investment would soon be "coming back into the market from overseas".
That will provide opportunities for expats living in Dubai not only to invest in new properties themselves, but also to take advantage of an upturn in the local economy while the rest of the world continues to struggle.
"Dubai is very much seen as a good place to live offshore," Mr Bridge added.
HSBC recently reported that agreed property prices in Dubai were up by five per cent in May on the same month last year, compared to a four per cent increase in April.
John Mills
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