 The value of mortgages issued in Dubai during the second quarter of this year rose by 12.5 per cent on the first quarter, online real estate information com-pany Reidin.com said. Mortgages topped dhs8 billion during the second quarter of this year compared to dhs7 billion in the first quarter, Reidin, in partnership with the Real Estate Regulatory Auth-ority (RERA) and the Dubai Land Department, said. Reidin CEO Ahmet Kayhan said the data "establishes a positive trend for the mortgage market" in Dubai. However, mortgages had fallen by 77.3 per cent in the second quarter of 2009 from the same period in 2008, Reidin's data showed. The total value of mortgages for the first half of this year was dhs15 billion, down 74.6 per cent from dhs56.7 billion in the first half of 2008. Chris Green, managing dir-ector of financial advisory firm Independent Finance, told 7DAYS that Reidin's figures were for total mortgages, including big land deals, but he had also seen more mortgages for the 'man on the street'. "From our perspective, we've definitely seen an improvement in mortgages in general. There has been an increase in mortgages, but not at the rate and pace everyone is hoping for. And the only reason it's not going at that pace is that loan-to-value ratios are still too high and interest rates are still very high," he said. He added however, that the increase he had seen he would regard as a positive trend. "If I took a guess I would see it as a trend because there's so much effort being put into improving worldwide markets, especially the property markets," he said. | 
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