Dubai Property Market: Brits, Indians, & Russians Lead, Pakistanis Exit Top 10

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Dubai Property Market

A Stable Economy, 100% Foreign Ownership, Golden Visas, And Covid-19 Handling Attract European Investors To Dubai.

Real estate market Dubai has seen a shift in its top investors in the first quarter of 2023. As per a report, British, Indian, and Russian nationals were the top investors, with Europeans and Russians overtaking those from the Indian subcontinent. This shift can be attributed to various factors. Such as escalating costs in Europe after the Russia-Ukraine conflict, Dubai‘s effective handling of the pandemic, a stable economy, 100% foreign ownership, and the availability of 10-year Golden Visas.

Investor Rankings

Previously, Indians were at the top of the investors’ chart in the local property market but slipped to third position last year and second in the first quarter of 2023. Meanwhile, Pakistani investors, who used to be among the top 10, dropped out of the ten lists in Q1 2023. As the South Asian country’s currency depreciated massively in the past year.

Top Investors

According to Betterhomes’ data, the top 10 list includes investors from Italy, Lebanon, Egypt, Turkey, France, China, and the UAE. The Dubai-based Samana Developers stated that Europeans were the top investors in its latest project. Najmeh Jafari, General Manager of Samana Developers, noted that Europeans from France, Germany, the UK, the Netherlands, Sweden, Switzerland, Austria, Belgium, and Norway mainly invest in properties in Dubai.

Factors Contributing to Investment

According to Ayman Youssef, vice president of Coldwell Banker UAE, most buyers of real estate are from, France, Germany, and Switzerland. Youssef said, “Compared to most European countries, the UAE property market has managed to retain appealing prices with higher yield/return per unit. Today one can get up to 8% returns which is quite high compared to what any European country can offer.” Additionally, the Golden Visa, 100% ownership rights, better business opportunities, and other factors encourage people to invest more in the emirate.

Bottom Line

Dubai’s real estate sector continues to see strong international demand as people seek a safe haven, tax efficiency, and positive investment returns. According to Betterhomes, buyers from the UK accounted for the most real estate transactions in the first quarter, with a growth of 60% year-on-year. Buyers followed this closely from India. With the availability of several investment-friendly policies, Dubai’s real estate market is expected to remain an attractive investment option for international buyers.

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