Dubai has done enough to curb soaring property market, says IMF | The National

Dubai has done enough to curb soaring property market, says IMF | The National:



"The Dubai authorities have done enough to temper the emirate’s soaring property market, an IMF official said six months after the fund warned of an “unsustainable” surge in prices.



The IMF sees no immediate need for officials to take further steps to avert a housing bubble after recent measures helped stabilise prices, Harald Finger, who headed an IMF delegation to the UAE, said in an interview in Dubai yesterday. 




Dubai home prices climbed 35 per cent last year, the most of any market in the world, according to a survey by Knight Frank. That prompted the UAE Central Bank to curb mortgage lending and Dubai’s government to double the transaction tax."



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