Expats Invest in Dubai
According to a report published by the Dubai Land Department (DLD), expat investment in properties in Dubai is rising.
Indian nationals were the Expat group who invested the most in Dubai properties by spending more than 8 billion Dirham in the first six months of 2013 – significantly more than last year (when total Indian investment over 12 months was 9 Billion Dirham.
British citizens were the second largest expatriate investors, making purchases worth 4 Billion Dirham over six months. Again, this is a big increase on the previous year when British nationals invested a total of 5 billion Dirham.
Other nationalities snapping up Dubai property include Egyptians, Kuwaitis and Lebanese.
In a statement issued with the data Sultan Butti bin Mejren, the Director General of DLD, asserted: ‘Dubai’s real estate market is a lucrative one for its stability, diversity and promise of high return on investment. These factors continue to inspire confidence in local, regional and international investors alike, whose transactions in turn contribute to sustained momentum of the market’s growth – signifying complete recovery from the global financial crisis.’
DLD figures showed that the total value of property transactions surged by over 30 per cent in the first half of this year compared with the same period of last year, reaching 108 billion Dirham.
Property prices were also shown to have risen by 5.4 per cent in the first quarter of 2013.
If you’d like to learn more about buying property in Dubai, and elsewhere in the UAE, check out our extensive country guide!
As well as providing some key facts to know before buying property in the UAE the guide contains VISA, education, culture, healthcare and climate information.
