Dubai property virtually snapped up by foreign buyers

  • Date: 03-Sep-2020
  • Source: Khaleej Times
  • Sector:Real Estate
  • Country:UAE
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Dubai property virtually snapped up by foreign buyers

Attractive property prices in Dubai are increasingly drawing overseas investors in droves, who are willing to snap up a well-priced property quickly even without viewing the property physically and proceeding with the sale from overseas via a remote transfer, market analysts said.

Leading real estate agents Allsopp & Allsopp said they have had clients buying properties from overseas virtually without even seeing the property physically or signing contracts in person.

"With property prices in Dubai comparing favourably with markets globally, supply reducing and a sharp increase in activity in the property market, investors are looking at properties in the city and forming the opinion that they need to act now," it said.This trend towards buying a property virtually could be