Indians Emerge As Largest Foreign Buyers Of Dubai Real Estate

    Date:

    Share post:

    Indians were the largest foreign buyers of property in Dubai in past six months. As per Dubai Land Department, deals worth $1.6 billion were registered involving Indians.

    “Indian nationals are the largest group of foreign investors in Dubai’s real estate and as both the UAE and India strengthen strategic relationship, we see a greater synergy and increased investment by Indian nationals in UAE,” Hindustan Times quoted Dawood Al Shezawi, the head of Dubai Property Festival’s organising committee, as saying.

    There were a whopping 3218 transactions happened in Dubai involving Indians in the first half of 2018. In fact, only Emiratis ($1.85 billion) bought more property than Indians who in turn were followed by Saudi Arabians, who made 1,415 investments worth $1 billion.

    The maximum properties were bought in Business Bay, followed by Dubai Marina and Al Merkadh.

    It is claimed that Indians prefer to invest their money in Dubai as it is easier to register a property in Dubai than in India. Also, a buyer is entitled to a residence visa on investing Dh1 million ($270,000) in the city.

    It is also reported that the property in Dubai is cheaper than the property of major Indian cities.

    Also, the fact that the apartments in Dubai are sold in terms of carpet area with free car parks, whereas in India, apartments are sold as built-up and car parks are sold separately, buyers are finding the Dubai properties much enticing.

    A major reason why Indians form the largest foreign buyers may be the fact that Indian nationals reportedly form the largest expatriate population in the UAE and are the largest foreign owners of business establishments in the region.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Housing Prices Surge 10% in Q1 2024: Bengaluru Leads with 19% Increase

    A recent report by CREDAI and Liases Foras reveals that average housing prices in India rose by 10%...

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...