Indians remain biggest investors in Dubai realty
24 Oct 2015
Indians were the most prolific foreign investors in Dubai real estate during the first half of 2015, with a total of 3,017 transactions worth over $2 billion, figures released by the Dubai land department showed.
Burj Khalifa, Business Bay, Palm Jumeirah and Dubai Marina were the most preferred locations for Indian buyers who once again topped the foreign property investment chart - a position they have consistently maintained for several years.
''The characteristic Indian mindset of solidifying assets in multiple arenas complements the dynamics of Dubai real estate which offers a number of options to buyers to accommodate their budget and preferences. Recent trends of purchasing properties in locations such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers, and The Palm also suggest that the buyers are looking at profitable dividends in the form of rents and resale value,'' Sunil Jaiswal, president of Sumansa Exhibitions, said in a statement.
The company is bringing the Dubai Property Show to India on 6-8 November at the Bombay Exhibition Centre, Goregaon (E).
Amongst the factors responsible for the trend are relatively low property prices. The average ticket size for prime locations is around 2-4 million UAE Dirhams or Rs3.35 crore to Rs6.69 crore. The ticket size in prime location in India would cost around ?Rs5-10 crore.
This is the main reason why Indians are seeing Dubai as their second home, in addition to considering it as an opportunity to garner greater returns on investments, the release said.
Other factors that have boosted sentiment include the recent move by the RBI to allow investors to send up to $250,000 freely overseas to buy property, Dubai's proximity to India, rental yield of 4-7 per cent a year and better transparency in deals.
According to the Dubai land department, residential apartments account for 60 per cent of Indian buyers' investments.