British buyers flock to Dubai with sliding prices

21.12.2014
British nationals were the second most significant property investor behind Indians, who upped their levels of investment by 31% to £1.75bn, and just ahead of Pakistani buyers who spent 50% more at £750m.
British investors are piling back into Dubai’s property market in search of a bargain despite experts warning that it is beginning to cool, according to The Telegraph newspaper.
British nationals were the second most significant property investor behind Indians, who upped their levels of investment by 31% to £1.75bn, and just ahead of Pakistani buyers who spent 50% more at £750m.
But despite a slew of forthcoming high-profile projects such as a new golf course from US tycoon Donald Trump, and a pipeline of luxury developments, the rate of growth is slowing, with confidence also knocked by this month's stock market crash.
After a 51% house-price rise in 2013 the Federal Government imposed stricter borrowing rules and doubled property registration fees to allay the fears expressed by the International Monetary Fund of a potential Dubai property bubble, dampening growth.

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