Insurance News Archive
Property portfolio insurance customers 'looking overseas'
Written by Jonathan Walker
More property insurance holders are likely to look overseas once confidence returns to these markets, according to one expert.
Siddeek Talati, director of Emirate Ventures, said that prices in some overseas markets are currently rock bottom, so there may be value in property portfolio insurance customers investing now.
He added that property insurance customers were originally put off because many projects in foreign countries were delayed, so it may be some time before investors part with their cash.
"It is difficult to say that money is rolling in yet because, at the time, there was the promise that it will be very profitable once it is all ready and that promise hasn't reappeared yet because of all the delayed projects," Mr Talati explained.
His comments came after the latest Colliers International house price index found that property prices in Dubai increased by seven per cent in the third quarter of the year and overall transactions rose by 64 per cent.
23 Nov 2009
