Now a 'fantastic time' for an expatriate to buy in Abu Dhabi
03/02/09 18:02
In the midst of an economic crisis is the perfect opportunity for an expatriate to move abroad and buy property in Abu Dhabi, according to one expert.
While many property markets are suffering at the hands of a severe global recession, the United Arab Emirate's (UAE) housing sector is said to be booming.
Director of marketing at the emirate's MD Real Estate, Amanda Clarke, claims that Abu Dhabi is still offering homes at attractive prices.
She said: "We believe a global financial crisis actually offers exciting potential for investors in the local real estate market.
"Although not immune to a global financial liquidity crisis, Abu Dhabi has not suffered the impact of the recession as much as other regional markets."
She added that the emirate had "little or no international debt" and was still benefiting from good economic growth.
The foreign currency exchange rate for the UAE is currently £1.00 to 5.2223 dirhams.
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