Plenty of room for mortgage finance to push up Dubai house prices as cash still dominates the market « ArabianMoney:
"If you want to know the real reason why Dubai house prices still lag behind comparable global hub cities with lower average after-tax incomes then it’s because this is still largely a cash market. Low-cost mortgage finance has driven house prices through the roof in many top cities. Is that where Dubai real estate is heading next?
It is hard to reach any other conclusion, absent a big surge in global interest rates or a collapse in oil prices that would hurt regional businesses. The index compiled by local data supplier reidin.com shows Dubai apartments have only just surpassed their 2008 peak prices while villas are trading at par value."
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