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The difficulty to secure finance is the greatest deterrent to potential property buyers in Dubai. Results from the Core Savills Dubai Residential Sentiment Survey reveal one in four people are being hindered by the current regulations and 71 per cent believe these should be relaxed, even at the expense of returning speculative buyers.
CEO of Core Savills, David Godchaux, says: ''There is a major segment of tenants who are being kept away from ownership by the current regulations. There is a strong underlying demand of current tenants who are considering a move to ownership if the regulations are relaxed.
''The issues of affordability and mortgage regulations continue to weigh down upon the buying intent of mainstream tenants who would welcome relaxation of the current mortgage regulations to provide relief to this large segment by particularly focusing on those who are buying to live thus keeping speculators away,'' he said.
Get a glimpse on the Dubai realty upturn - half of residents consider buying home
Source: Property Weekly