Increase in Dubai Property Price
I It has been some time since I last wrote about Dubai properties, and this in itself is evidence of the revived state of the Dubai property market. My increased engagement with customers further reinforces this observation. A few months ago, the Central Bank introduced a policy limiting expatriates in Dubai to obtain only a 50% Loan-to-Value (LTV) ratio for the properties they intended to purchase. This measure was implemented to prevent the property prices from spiraling out of control once again. However, a few weeks later, the Central Bank decided to reverse its decision, opening the doors for buyers on the sidelines to take advantage of unrestricted LTV ratios. It was announced that the Central Bank would review the situation after a period of 9 months. As a result, property prices have begun to rise once again. Concurrently, we have witnessed a substantial 40% increase in rents in Dubai's International City compared to the previous year. The property prices t