"Booming Dubai real estate sales and among the highest price rises in the world this year have largely been down to an inflow of cash buyers into the market.
Total bank finance for all property in the UAE of just $42 billion has actually been falling with total outstanding mortgages in decline, the UAE Central Bank reported this week.
Buyers are coming from a very wide sweep of nations. Sure there are the rich exiles from Egypt, Syria and Libya. But more important in the local market are Russians, Iranians, Indians and Pakistanis, with the British rather less so these days."
'via Blog this'
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