Detail News & Updates

Wealthy Indians Emerge as Top Buyers of Property in Dubai 27-Mar-2017

wealthy-indians-emerge-as-top-buyers-of-property-in-dubai-

 Are you looking for a way to sell your property in Dubai quickly? The real estate market in Dubai hasn’t exactly been flying since the 2009 recession. A lot of investors have lost their money. But there are some that continue to stay heavily invested in Dubai, such as wealthy Indian investors.

Cash rich, high net worth Indians have emerged as the biggest buyers of real estate in Dubai. According to the Land Department of the Government of Dubai, Indians feature highly in terms of property purchases made by foreign investors in Dubai in the year 2016.

Property transactions of as much as Dh12 billion were made in Dubai by over 6200 Indian buyers over the last 12 months. Many Indian investors consider Dubai to be a safe haven for their investment, considering the uncertainties in the Indian real estate market because of policy decisions such as demonetization of 86% of high denomination currencies in their home country.

Indian investors buy property in Dubai online because of the high capital gains, excellent return on investment, and also because it is geographically close to India and has a tax free environment.

Some of the biggest Indian celebrities such as the Bollywood superstar Shah Rukh Khan, have invested heavily in Dubai. The Burj Khalifa in Dubai, which is the tallest skyscraper in the world, is partly owned by an Indian businessman, George V. Nereaparambil.

 

 It has also helped that Dubai has been spending heavily in infrastructure development over the last few years. The economy may have been run down since 2009, but has been slowly picking up, which is good to see.

Any concerns investors have about Dubai is from a short-term perspective. From the long-term point of view, Dubai is a perfect investment opportunity.

2017 has started well for Dubai’s real estate market, with investment of over Dh 30 billion already in play. Investors have chosen to ignore the warnings made by many financial observers about the city’s poor economic performance.

Dawood Al Shezawi, who organizes the the International Property Show in Dubai said, "The UAE's safe haven status, stable economic growth and bottomed out prices have been the key factors for attracting Indian realty investments in Dubai. In addition, many Indians find Dubai as their base for business between India and the wider Europe and Middle East."  

"The profits on properties in Dubai in the form of rents and resale are high. The Dubai realty market has everything on offer - from high-end luxury to affordable housing, making it a perfect destination for Indian investments. This year's edition of International Property Show will have some of the best properties on offer, allowing serious Indian buyers to make deals and agreements right at the show," Mr. Shezawi added.

There is no question that the authorities in Dubai have learned a lot from the subprime mortgage crisis in the United States of 2008. They realise that encouraging mindless speculation in property can prove to have disastrous consequences later.