'Dubai sees rise in mortgage money transfers'

The number of investors transferring money to assets in the Middle East has increased, according to recent research.

Dubai Land Department figures have revealed that mortgage lending increased to £1.14 billion in the second quarter, up from the first quarter's £1.04 billion.

Property portal Homesgofast.com explained that confidence in the UK's housing market is having a positive knock-on effect in the region, which may interest expats intending to make money transfers to secure assets.

Nick Marr, chief executive of the company, said: "The future of Dubai relies on international workers relocating and overseas tourism.

"It makes sense that when we feel more confidence Dubai will also feel the benefit. There is a feeling that the worst is over amongst the Dubai realtors."

Meanwhile, real estate expert Colliers International recently released figures that show the number of properties bought in Dubai rocketed by 50 per cent in the second quarter.

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By John Mills