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Expatriates considering making an investment in Dubai’s housing market should look at buying properties that will be completed within the next three to six months, a property expert has advised.
Nicholas Marr, CEO of Homesgofast.com, said buying almost-complete homes will lessen the risk of the developer not completing the project and could even gain more flexibility on prices.
The Gulf region is known for its accommodation of expatriates who go to find work and settle.
Mr Marr said investors are attracted to the UAE and Dubai because the economic problems sweeping Greece and other European countries at the moment are not affecting the Gulf to the same extent.
"It shines a nice light on the UAE because they are not being affected by that as such and people are rightly a little bit hesitant about investing in some places in Europe at the moment. I think that is a positive thing for the UAE," he commented.
His advice follows research by Colliers International which revealed that rising property prices in Dubai have accounted for the first annual increase since the global economic collapse in late 2008.
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