Dubai, April 07 (PTI) A growing number of investors in India are showing interest in Dubai, seeking to capitalize on the 60 percent savings per square foot in the Dubai property market, a real estate company based in Dubai, he said.
DAMAC Properties said that in addition to the price disparity, the Dubai market 'property is becoming increasingly attractive for foreign investors due to the implementation of a series of new regulations such as the new strata law, which favors homeowners.
"As these new and stricter regulations stricter hold, Indian investors are looking to take advantage of the many investment opportunities that exist in the emirate market" real estate "he said in a statement.
At an average price per square foot of $ 264 in Dubai, according to Colliers International, the property is now 60 percent cheaper than in central Mumbai, where the price per square foot is $ 664 according to Jones Lang LaSalle.
DAMAC Properties Senior Vice President Niall McLoughlin, said: "DAMAC Properties, we have seen a marked increase in interest through our Dubai portfolio investor in India, in January 2011 we had a double-digit growth in surveys over the same period last year.
"Not only are we seeing a surge of interest from potential investors from India, but also other emerging markets like Africa and China that are seeking quality assets at competitive prices. According to McLoughlin, although confidence was shaken following the global slowdown, the introduction of new regulations in Dubai offers property buyers more confidence in their investments. DAMAC Properties also welcomed the return of liquidity in the mortgage market, cited as another important factor in the revival of the Emirates' real estate.
"Now that banks and financial institutions have begun to restore confidence in the market, and are again able to offer financing packages, which begins to address the problem of excess supply - one of the main factors for the devaluation of sector 'of, "said McLoughlin.
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