Brits may become more 'confident' with Dubai international payments

More British investors could soon be choosing to make international payments to Dubai-based assets thanks to confidence in its property market.

Research by Colliers International reveals in the third quarter of this year house prices in the country grew by seven per cent.

Real estate expert Select Property claims the rise reflects an increased confidence in Dubai's housing market, which has been partially generated by government policies that seek to ease the effects of the economic slowdown.

Giles Beswick, director of the real estate firm, suggested more UK investors may soon begin transferring money to Dubai to secure assets in the region.

He said: "The interest for Dubai is still very much alive and the current deals on the market are proving attractive, as Brits become more confident in committing their funds."

Meanwhile, travel firm Flight Centre recently revealed that the emirate topped a poll of Brits' favourite winter destinations.

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By John Mills