Sunday, 4 October 2009 at 12:05
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| Dubai and London "on way out" of property slumps |
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Surging financial and consumer confidence and investor-friendly currency fluctuations are helping to haul Dubai and Britain out of their deep property depressions, real estate broker Chesterton said.The company, which operates in the Gulf region out of Abu Dhabi, said Dubai's hard-hit market is forecast to grow at a rate of 4-6 per cent a year until 2015, notwithstanding the economic challenges facing the emirate.
Chesterton said the UK property market was also showing signs of rehabilitation after a two-year freefall in values ground to a halt this August. The weakening British pound is tempting significant numbers of Middle Eastern and North African investors to Britain in search of a property bargain.
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