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Dubai real estate market witnesses a significant drop in cash buyers
By Parag Deulgaonkar
Market dominated by end users; Finance readily available from banks at attractive rates
The number of cash buyers in Dubai has reduced significantly as the market now driven by end users and home finance being readily available, according to experts.
“The market is now being dominated by end users rather than speculators. This is coupled with the fact that finance is now more readily available from banks at attractive rates. So I assume that the number of cash purchasers in the market has reduced,” Gregory Antioch, Head of Residential Sales, Cluttons Dubai, told Emirates 24|7.
“However, against this view, investors from trouble hit areas around the region such as Bahrain, Egypt and Syria may be wanting to take their cash out of these countries and deposit them in real estate here in Dubai.”