Dubai's real estate market needs more regulations

(MENAFN) Cluttons said that the real estate market in Dubai needs more work to tighten regulations, Arabian Business reported. The of Cluttons Middle east said the property mortgage cap implemented by the UAE Central Bank limiting the amount that can borrowed against a new home is a positive step, but more is needed. He said: "The new mortgage cap regulations will go some way to deliver a more stable property market in the UAE and stabilise the recent surge in activity."