Dubai retains top spot for real-estate investment

      Published on Sunday, 10 September , 2017      743 Views     
Dubai retains top spot for real-estate investment

  • Gulf News

Dubai has retained its title as the most attractive city in the world for real-estate investments among GCC residents, a new study has found.

The UAE also ranks first among real-estate investors in the GCC region, the Real Estate Barometer study by internet-based market research firm, Yougov and real-estate fair Cityscape Global said.

Asked where they felt most confident investing their money globally, 69% of Gulf residents picked Dubai as the ‘go to’ city for real estate investment.

Two thirds (66%) also expected Expo 2020 in Dubai to increase property buyer interest in the UAE.

A further 45% of respondents chose the UAE as their preferred site for property investment, up from 42 per cent in 2016.

The research also found that more than half (59%) of respondents planning to buy a property in the next year prefer to buy in the GCC, with the average GCC budget sitting at $717,000, compared to the average global budget of $561,000.

The research came on the heels of the opening of region’s largest real-estate exhibition Cityscape in Dubai, this week.

The show’s Exhibition Director Tom Rhodes said the research provides important insights into current market conditions and helps exhibitors forecast expectations for real estate investment.

“With on-site sales permitted for UAE-based projects the first time at Cityscape Global this year, we anticipate a lot of interest from investors who will be able to attend the event to capitalise on attractive price options and make informed purchasing decisions directly on the show floor.

The most highly sought-after residential property among buyers was two to three bedroom apartments, with 53% of residents opted for this size.

Rhodes said that these findings show a shift in consumer mind-set when it comes to the most in-demand properties.

“Additionally, we’ve seen a change of investor mind-set when it comes to the size of property sought after, shifting from one bedroom and studio apartments in 2016 to a majority (54%) seeking two to three bedroom apartments shown by this year’s results.

Category Gulf News, UAE | 2017/09/10 latest update at 10:05 AM
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