While it's no secret that the property market in Dubai is well on the road to recovery, it seems that it's not just new-build properties that are proving popular with investors. A senior official believes that existing property in Dubai can be sold on average within 15 days, compared with several months in the UK.
Butti bin Mijrin, Director-General of Dubai Land and Properties Department, also believes that in many cases, Dubai property is proving so popular that deals can be made within an hour of a home going on sale.
“It will not take more than a month to find a buyer for a property put on the market in Dubai,” he promises.
The speedy turnaround of properties is in part down to the automation of the buying process which, in many cases, allows applications to be processed and settled at a customer services department and the property ownership certificates or deed to be generated and published within around 20 minutes, making it one of the fastest places in the world to purchase a property.
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