IslamicFinance.de

Iranians are likely to become major buyers of Dubai property again if sanctions against the Islamic Republic are lifted, providing a much-needed fillip to the emirate's real estate sector. Dubai property prices have fallen slightly this year, ending a sustained rebound from 2008-9 crash after tougher regulations to deter speculators, a slump in oil prices and weakening confidence in the global economy dampened sentiment. In 2010, Iranians were the fourth largest foreign buyers of Dubai property, behind India, Britain and Pakistan, and accounted for 12 percent of real estate transactions.