October 24th, 2007
The property boom in Dubai will continue and is set to expand further across the UAE, says Khaleej Times.
This according to AME Info which studied the attitude of property buyers in the UAE in a survey entitled "Buying Property in the UAE".
"The AME Info Buying Property in the UAE survey, part of a wider report on property in the region, found that Dubai is still the emirate of choice for many buyers," said the online news firm's editorial director Rob Jones. "But as prices skyrocket, it is having a ripple effect that is reaching other emirates."
He added: "Overall the survey show there is a thirst to buy in the UAE — many people see it as a good investment and want to get in before prices go higher to escape the annual cycle of rental increases."
The survey said that 84 per cent of the more than 1,300 respondents plan to buy property in Dubai. It stressed that almost half of those wanting to own property plan to live in it, showing interests to stay longer in the UAE.
