UAE investors told to 'target almost completed projects'

Property investors looking to take advantage of the cheap prices of real estate in Dubai should look at almost finished houses, it has been claimed.

Overseas property portal HomesGoFast.com has made the prediction as it says it would minimise risk on the part of the buyer.

Nicholas Marr, chief executive officer at the firm, claimed that purchasing non-complete properties will mean there is less chance of developers failing to complete the project and could lead to more flexibility on prices.

"[Investors] are in it for the long term and I think that is where Dubai is heading," Mr Marr added.

"They want to change from this fast buck type of investment and I think that is going to stand Dubai in good stead because it is going to have a different type of feel to it."

The property market in Dubai recently posed its first annual price increase since the collapse of the market in 2008.

According to figures released by Colliers International, real estate has grown in value by four per cent over the past year and was boosted by a six per cent rise in the cost of apartments in the last three months.

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