Two in three still want to buy Gulf property
Though aware of the risks, would-be homebuyers do not seem to have been deterred by the downturn in real estate prices.
February 2, 2010 10:44 by kippreport
Two-thirds of people want to buy property in the Gulf, despite the recent economic downturn and an increased awareness of the risks involved.
FutureBrand’s Annual Gulf Real Estate Study found that few have been put off by the downturn, despite the slump in real estate prices in many Middle East countries.
Sixty-nine percent of the respondents to the study said they believed that the region’s property prices offered good value for money. Only 15 percent said that that they were unlikely to buy property in the Gulf – which is, perhaps, unsurprising given that all of those surveyed were recent or prospective home buyers.