While some experts believe the situation is still safe, others feel that the decline in property prices has left banks more exposed.
"I think the mortgage loans extended by the UAE banks are still within limits," said economist Mohammed Al Asumi.
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Tuesday, 26 May 2009
Analysts divided on UAE mortgage crisis
A sharp decline in the UAE real estate market over the past few months after rapid growth in the previous two years has underscored fears about a possible mortgage crisis in the country.
While some experts believe the situation is still safe, others feel that the decline in property prices has left banks more exposed.
"I think the mortgage loans extended by the UAE banks are still within limits," said economist Mohammed Al Asumi.
While some experts believe the situation is still safe, others feel that the decline in property prices has left banks more exposed.
"I think the mortgage loans extended by the UAE banks are still within limits," said economist Mohammed Al Asumi.
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