Resicom – Holiday Investment – 04-21 – LB

Dubai Most Popular for High-Net-Worth Property Investors

Dubai has been named as the most popular city for second home purchases among high-net-worth investors.

According to Germany-based property brokerage firm Engel & Völkers, Dubai is demonstrating further growth as a global commercial hub and a leading tourism destination, therefore attracting high-net-worth international buyers and investors.

The property brokerage said investors from key overseas markets such as India, Pakistan, Saudi Arabia, UK, Egypt, Jordan, Lebanon, China and US were constantly on the look-out for opportunities across Dubai’s thriving real estate segment – placing strong focus on properties that can be rented out for profit or held as investments.

Chief executive of Engel & Völkers Dubai, Matthew Bate, said: ‘The city features among the top 10 fastest growing premium property markets globally. Winning the bid for the World Expo 2020 continues to boost government investment enabling progress of improved infrastructure, stability and security for both domestic and international investors.’

He continued: ‘In addition to this, the Dubai Land Department (DLD) legal frameworks are set to further protect investors and consumers alike. Dubai’s ranking is reflected in rising levels of interest from international buyers.’

Engel & Völkers expect the economy in Dubai to grow from 3.8 per cent to 4.5 per cent in the coming years, continuing to attract high-net-worth investors to the emirate as the government plans for 2020 and beyond help to boost the property market.

According to recent statistics from the DLD, overseas property investors already accounted for around 20 per cent of real estate transactions in Dubai in the 18 months up to June 2017, and this strong presence of high-net-worth investors is expected to only increase.

The DLD also revealed that buyers from these markets invested Dh151 billion ($41 billion) into Dubai property during this period.

With strong economic growth and low interest rates, the demand for premium real estate in the emirate is expected to continue well into 2018.

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