As Dubai demonstrates further growth as a global commercial hub and a leading tourism destination, the emirate’s real estate market remains a key sector that continues to attract international buyers and investors.
Investors from overseas key markets such as India, Pakistan, Saudi Arabia, United Kingdom, Egypt, Jordan, Lebanon, China and United States are 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.
“Dubai 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. In addition to this, the Dubai Land Department (DLD) legal frameworks are set to further protect investors and consumers alike. As forecasts predict Dubai’s economy is set to grow from 3.8 per cent to 4.5 per cent in the coming years, Dubai ranks as the most popular city for second home purchases among global high-net-worth individuals. This is reflected in rising levels of interest from international buyers” said Matthew Bate, CEO, Engel & Völkers Dubai.
The Emirate's appeal is set to spike further in the eyes of international investors, given the surge in real estate investment opportunities ahead and the government plans for 2020 and beyond. According to most recent statistics from the DLD, foreign buyers accounted for around 20 per cent of real estate transactions in Dubai in the 18 months up to June 2017. DLD also revealed that buyers from these markets invested AED 151 billion into Dubai realty during this period. Riding a wave of positive market sentiment, the Germany-based Engel & Völkers closed out its second full year of operations, recording a 64 per cent Year-on-Year (YoY) increase in revenues, following a 73 per cent growth from 2015 to 2016.