Do you want to own a property in Dubai? Here are some facts

By: | Published: August 8, 2016 11:14 AM

Data with various real estate consultants show that Indians have been amongst the biggest investors in Dubai's real estate. Experts feel Dubai's economic fundamentals, regulatory policies and infrastructure works well for the city.

Dubai real estate - want to buy a home thereData with various real estate consultants show that Indians have been amongst the biggest investors in Dubai’s real estate.

Ever dreamt of owning a plush apartment or a sprawling property in Dubai? Does Dubai’s ‘global city’ status interest you? If yes, then we have some details to help you decide on owning a property and also tell you what kind of a real estate market it is going to be in the future.

Data with various real estate consultants show that Indians have been amongst the biggest investors in Dubai’s real estate. According to Dubai Land Department (DLD) as reported by Knight Frank, apart from UAE nationals, the biggest investors in the Dubai property market for the first half of 2016 were Indian nationals, investing AED 7.27 bn during the first 6 months of the year. Nearly 26,000 investors, comprising 149 nationalities, made total investments worth Dh 57 billion.

So, what makes Dubai a favourable destination for property investments. Experts feel Dubai’s economic fundamentals, regulatory policies and infrastructure works well for the city. Tanuj Shori, CEO and Co-Founder, SquareYards.com said, “Demand fundamentals remain strong in the Dubai realty market, which will safeguard the market with any possible overheating and make it resilient with long-term capital gain perspective. The downward pressure is also a product of strong regulatory policies undertaken by the government to control any possible overheating & arrest speculation.”

Dwelling more on the intricacies of Dubai real estate, Maria Morris, Partner, Residential Sales, Knight Frank, UAE said that although the residential market remained stable from January to April 2016, it was the primary market which outperformed and registered a 2 per cent increase on a quarterly basis between Q4 2015 and Q1 2016. A number of factors have supported this regulation in prices, such as the Government’s commitment to infrastructure spending and a controlled supply of residential projects, and are set to support the return of confidence to the market.

However, SquareYards.com’s Shori said the residential market is set to brighten up with new jobs creation due to World Expo 2020 that is expected to generate early 300,000 new jobs & 25,000 tourists (30% foreign nationals), stimulating demand for residential units.

“The outlook for the emirate in general is positive, however the real estate sector in particular depends on a number of global and regional fundamentals, such as post-Brexit sentiment, further volatility in oil prices and the US presidential elections later this year, all of which are all likely to impact the behavior of currencies, Morris added.

Best areas to invest in Dubai
Established areas like the Palm Jumeirah and Dubai Marina have been a popular choice for both investors and owner occupiers alike. However, new master-planned developments such as Dubai Creek Harbour and Mohammed Bin Rashid City are also an attractive offering, due to the planned infrastructure and amenities, plus their proximity to Downtown Dubai and the CBD, and Dubai International Airport. Dubai South is another upcoming area that investors can look up to.

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