More UAE residents mull property buying.
Summary: Soft prices and bargains from developers have more favouring this asset option
Image Credit: Arshad Ali/ Gulf News Staff Report
Dubai: The current bargains available on Dubai property seems enticing - 40 per cent of residents have plans to invest here while another 18 per cent prefer to do so overseas. In fact, real estate ranked above stocks as the main pick for these investors.
The survey - done by YouGov and conducted by IP Global - shows a 7 per cent increase in "appetite" in the last six months for property investment.
It has "shown the increased appetite of the UAE residents for property investment," said Richard Bradstock, Director and Head of the Middle East at IP Global. "And in the current market, with a weak pound making it cheaper for dollar-pegged investors to buy property abroad, real estate is calling out: the time is now."
The bi-annual study polled responses from 1,000 people, on which asset they would prefer purchasing.
When UAE residents were asked where they would consider purchasing overseas property, Canada and the US - both at 20 per cent - were the most popular.
The UK was next with 15 per cent, Germany and Australia with 12 per cent rounded off the top five preferred investment destinations.
"North America continues to be an attractive market for the UAE residents, due to the impressive returns it offers investors, as shown by Chicago which has experienced an 36 per cent increase in house prices in the last five years while rental yields have increased 10 per cent between 2016-17," said Bradstock.
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