Indians have topped the list of Dubai's most active real estate
buyers as they view the city in the same league as London, according to a
survey. According to real estate consultancy Cluttons, the relative geographic proximity to India and the large non-resident Indian population in the region are two critical drivers for those looking to park their rupees in Dubai's real estate market. "Unsurprisingly,
Indian nationals topped the list of the city's most active buyers, with
Dubai often viewed in the same league as London by this group," Faisal
Durrani, Associate residential and international research at Cluttons,
said. SPECIAL: Top realty destinations to invest in outside India "And
now we're seeing the demand base broadening from individuals to
institutional players. Britons and Pakistani nationals rounded off the
top three nationalities that purchased property in Dubai last year,"
Durrani said. This is further evidenced in Cluttons International
Private Capital Survey 2013-14 which was released late last year. The
survey found that within the region, Dubai ranks ahead of other global
real estate investment destinations. Cluttons surveyed nine global
locations across the Middle East and Asia-Pacific region and although
London ranked as the go-to investment destination by the world's
wealthy, Dubai came in a close second, up from seventh place a year
earlier. Renewed demand from domestic and overseas buyers seeking
Dubai property assets is a sign of increasing interest in Dubai?s
improving real estate market. "This leap up the league table
underscores the impact of the economic rebound on Dubai's appeal as an
investment hot spot. We're now seeing the results of the survey
materialise in the form of high profile deals, which we expect to gather
momentum," Durrani said.
Source : Web
|