Job vacancies may impact international payments

An increase in Dubai job vacancies may see more expats making money transfers to the emirate, it has emerged.

Investment expert Nomura Holdings recently stated that an influx in property developments in the region will need to be supported by the creation of 100,000 posts.

The news may interest Brits who are looking to make international payments to overseas mortgages.

In addition to the possibility of increased job vacancies, rents are expected to lower in Dubai as landlords compete for tenants.

Figures from the expert reveal that property vacancy rates for rented homes stand at 25 per cent, but this may rise following the completion of 65,000 dwellings.

Chet Riley, an analyst at the firm, said: "We estimate around 100,000 white-collar jobs at least would need to be created in Dubai."

Elsewhere, the Austrian embassy recently highlighted Romania as a potentially lucrative destination for long-term money transfers, Agence France-Presse reports.

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By John Mills