Rich Indian & British property buyers continue investing in Dubai real estate
With strong infrastructure, tax-free status, new residence visa options and 100 per cent foreign ownership possibilities, foreign investors from every part of the globe have been flocking to invest in Dubai real estate market. Dubai has recorded more than 84,000 real estate transactions, worth AED300 billion in 2021. According to Dubai Land Department (DLD), out of these transactions, more than 72,000 were new investments conducted by 52,000 investors.
Rescued by the UAE government’s timely reforms and directives and further strengthened by the government’s revolutionary steps including the golden visa and Dubai hosting Expo 2020, the real estate sector was able to achieve a higher volume of transactions. According to the DLD’s report, there was a 65% growth in the number of transactions and a 71% increase in value compared to 2020. The statistics reflect the sector’s ability to progress under exceptional circumstances and have further strengthened Dubai’s position as a global property investment hub.
Commenting on the results, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, said: “The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world’s best city to live and work has served as a key driver in increasing its attractiveness as a global investment destination. The rise in investments and the increasing interest shown by global investors in Dubai is testament to the effectiveness of the emirate’s strategic economic initiatives that have sought to strengthen its leadership in various sectors and enhance its global rankings in development indicators.”
Foreign buyers’ contribution
The report released by the Dubai Land Department indicates that 6,897 investors were from the GCC have completed 8,826 transactions. A total of 6,097 Arab investors have also recorded 7,538 investments.
Dubai real estate sector also attracted 38,318 investors – who concluded 51,553 new investments, worth over AED99 billion.
According to the data, Emiratis are the leading investors from the Arab and Gulf Cooperation Council countries in buying Dubai properties.
Indian citizens topped the list of foreign nationalities investing in Dubai real estate. The British investors followed with the second most number of transactions, followed by France. Russians, Canadians, Pakistanis and Iranians are also in the list of top nationalities investing in Dubai real estate.
It is worth noticing that property deals surged in the emirate amid economic recovery. A majority of real estate experts are of the view that the same trend will continue in 2022 and in the years to come. Super-rich property buyers from countries like India, the UK, the US, Canada and Pakistan will keep investing in Dubai properties, as it poses to be an attractive realty market for them.
Isn’t it an exciting sector to be a part of? No matter, where you are and what are your investment plans in Dubai real estate sector, all you need is to partner with the best team to complete the process.
If you have chosen a particular area or picked a property in Dubai, you can text or call team HFRE at +971 4876 2473 or write us an email at firstname.lastname@example.org and our sales representative will get back to you with a bespoke investment plan or a list of handpicked properties that can best fit into your budget.