Expatriate Insurance News: Properties 'have become cheaper' in UAE
04/08/10 18:25
Prospective expatriates are being offered a "buying opportunity" in the form of properties in the United Arab Emirates (UAE), South America and the Caribbean, a property journalist has stated.
Marc Da-Silva commented that the weakening US dollar is pegged to the currency of the UAE dirham and the Barbadian dollar, "so when the US dollar weakens against the pound, all those currencies weaken against the pound also".
"It basically means that this creates a buying opportunity for [British expatriates] further afield," he explained.
The editor of HomesOverseas.co.uk's comments come after figures released by Colliers International showed that property prices in Dubai fell by four per cent in the second quarter of this year and are now down by seven per cent in the last 12 months.
Expatriate medical insurance policyholders may find the prices of apartments and villas in the emirate state are cheaper this month as both types of property have seen price reductions of five and three per cent respectively.
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