Indians are the biggest property buyers in Dubai among foreign nationals, as per the figure released by the Dubai Land Department (DLD) for the first half of 2011.
A total of 2,181 Indians, UAE expats and those residing in India and in other countries, bought Dh3.70 billion worth of properties in Dubai, while 1,537 Britons invested Dh2.49 billion and 1,219 Iranians invested Dh1.9 billion in the city’s real estate market.
Emiratis topped the list in terms of value — Dh52.67 billion.
Buyers from Pakistan, Russia, Saudi Arabia, USA, Canada and Jordan made up the rest of the top 10 investors in Dubai properties. DLD said the total sales value in Dubai stood at Dh16 billion across 5,719 properties purchased during the first half of this year. Burj Khalifa recorded the highest sales ‘value’ at Dh4.84 billion.
Ayman Youssef, Vice-President, Coldwell Banker, told Gulf News, “Burj Khalifa is a project that will always appeal to a certain segment of investors in the market. It’s a high-end address with potential mid to long-term capital gains. With its current pricing, the tower becomes even more accessible to a wider section of investors in the market.” The Palm Jumeirah sold Dh2.11 billion worth of properties, while the Marsa area in Dubai saw 2,514 sales transactions (highest) worth Dh3.75 billion.
According to DLD, there has been an increase in the number of female property owners in the first half of this year compared to last year’s records. Around 1,189 women bought properties in Dubai compared to 1,001 buyers last year. “Today, lots of women have the financial strength to take an investment decision as properties provide a mid to long-term appreciation over a period of time,” Youssef said.
