Dubai property market 'is safe' for an expatriate
02/01/09 18:24
People who want to become an expatriate in Dubai may be interested to know that its property market is safe for investment, according to Homesgofast.com.
Nicholas Marr, chief executive of the overseas property portal, said that like the rest of the world, Dubai has been affected by the global slowdown but the emirate is one of the safest places to buy real estate abroad.
"[A] worthwhile comparison is the prices in Dubai when compared with the major cities of the world. Dubai prices are still far lower, leaving much room for capital growth," he said.
Mr Marr went on to say that now is an ideal time to move abroad and become an expatriate in Dubai as many of its properties have reduced in price due to the economic downturn.
"This would be a good time to buy property that you may not have been able to afford say six months ago but it's all about the deal," he added.
The government of Dubai reported that in 2007 just fewer than 1.5 million people lived in Dubai and around 1.1 million of these were men.
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