Dubai gets its confidence back on the property front – and risk returns | The National:
"Confidence is back in the UAE economy. With it, risk-taking on the property market is gradually coming back too – on the part of both banks and consumers.
As the Dubai authorities move to curb a second speculative bubble by doubling property transfer fees, many end-user investors are still confident that the property rebound is gaining traction.
Despite having seen the effects of the property crash that followed the last boom, buyers are hoping that recent rises in real estate values could signal a resumption of the 2006-07 property bull market, said Jean-Luc Desbois, the managing director of Home Matters, a mortgage consultancy.
Many recent mortgage buyers have been “people that missed the boom and felt they missed an opportunity,” Mr Desbois said. “People have thought ‘I don’t want to miss this opportunity’, and there’s a lot of people like that.”"
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