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Potential expatriate insurance customers might wish to consider moving to Dubai as property prices are likely to fall over the next year, it has been claimed.
Some regions in the emirate have seen price declines of up to 50 per cent, which could mean buyers previously priced out of the market could pick up bargains in Dubai.
Barmak Besharaty, managing director of Almas Capital, said lower property prices could have long-term benefits for the emirate.
He explained that with values likely to fall to mid-income levels this year, Dubai could become a more attractive destination for families.
"Dubai will be a better place to live once families can afford to rent or buy, which I think will happen," Mr Besharaty commented.
Expat insurance policyholders might consider moving to Dubai as it is an "exhilarating, dynamic and constantly evolving destination", according to Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Airline and Group.
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