Nine out of ten UAE home buyers now end-users, reports Tamweel
- United Arab Emirates: Sunday, October 14 - 2012 at 15:00
- PRESS RELEASE
Nine out of ten home buyers in the UAE are now end-users, representing a significant shift in the country's real estate sector, according to Tamweel PJSC, the UAE Islamic home finance provider. The findings are based on analysis of home finance extended by Tamweel between January 2011 and June 2012.
As the number of end-users has increased, so too has their equity participation. According to Tamweel, in 2008, its average finance-to-value ratio was 80%. Today, this figure is 75%, signifying that end-users are now eager to keep their leveraging to a minimum.
"The past 18 months have witnessed a profound shift in the UAE home finance sector" said Varun Sood, Acting Chief Executive Officer of Tamweel. "Customers now are very savvy and will have thoroughly done their homework on both the property and the home finance product.
Importantly, customers are no longer seeking to over-leverage themselves, and are instead fully prepared for significant equity participation, which is a very healthy characteristic of the UAE home finance sector.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.