Up to 40% of approved Dubai home loans snubbed

Up to 40% of approved Dubai home loans snubbedAs per a Dubai-based finance company, the percentage of the buyers in Dubai who have been pre-approved by lenders for mortgages and then decided to abandon purchasing a property is as high as 40 percent.

It was found by Colliers International's Dubai House Price Index, held earlier this week, that during Q4 of 2009, quarterly house prices in the emirate hiked by one percent and by 42 percent year
-on-year since compared to Q4 2008.

Colliers, as part of the report, also found a decrease by 15% in mortgage transaction in Q4.