https://sputniknews.in/20231114/indians-surpass-british-investors-as-biggest-real-estate-financiers-in-dubai-5390332.html
Indians Investors Surpass British as Dubai's Biggest Real Estate Financiers
Indians Investors Surpass British as Dubai's Biggest Real Estate Financiers
Sputnik India
India emerged as Dubai's largest real estate investor in June-September, replacing Britishers to second position, according to Betterhomes Residential Market Report.
2023-11-14T14:06+0530
2023-11-14T14:06+0530
2023-11-16T13:39+0530
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India emerged as Dubai's largest real estate investor in June-September, replacing Britishers to second position, according to Betterhomes Residential Market Report.Waind said that there was a significant increase in demand from Indian and British citizens, who see property investment as an opportunity to obtain the Golden Visa.According to the report, the real estate market experienced significant growth from June to September, with 28,249 transactions being recorded. This represents a remarkable four percent increase from the previous quarter and an impressive 23% growth when compared to the same period last year.Meanwhile, demand for villas and townhouses has increased, however, apartment deals decreased upto four percent.Waind also said that Dubai continues to attract people, as many as 100,000 people shifted in the country in a year (July 2022 to July 2023).Meanwhile, luxury home prices surged nearly 50% in a year. Dubai has seen a massive influx of high net-worth individuals post-pandemic, especially from the Indian subcontinent, Europe and other regions. Dubai attracted a remarkable influx of 5,200 millionaires in 2022.
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dubai, dubai investing, dubai investors, properties rate in dubai, rela estate market in dubai, betterhomes residential market report, dubai golden visa,
Indians Investors Surpass British as Dubai's Biggest Real Estate Financiers
14:06 14.11.2023 (Updated: 13:39 16.11.2023) Deexa Khanduri
Sputnik correspondent
Dubai is highly regarded as one of the top choices for global investors due to its reputation as a safe haven with tax efficiency and a potential for higher investment returns.
India emerged as Dubai's largest real estate investor in June-September, replacing Britishers to second position, according to Betterhomes Residential Market Report.
"Whether driven by end-user demand or investors seeking
higher yields, Indians have been instrumental in new home purchases," said Richard Waind, CEO of Betterhomes, a Dubai-based property consulting firm.
Waind said that there was a significant increase in demand from Indian and British citizens, who see property investment as an opportunity to obtain the Golden Visa.
As per the Golden Visa norm, if any individual has a residential property worth 2 million dirhams (Rs 4.5 crore) in Dubai, it gives him and his family a five-year residency in Dubai, up to 10 years.
According to the report, the real estate market experienced significant growth from June to September, with 28,249 transactions being recorded. This represents a remarkable four percent increase from the previous quarter and an impressive 23% growth when compared to the same period last year.
Meanwhile, demand for villas and townhouses has increased, however, apartment deals decreased upto four percent.
Waind also said that
Dubai continues to attract people, as many as 100,000 people shifted in the country in a year (July 2022 to July 2023).
"With the
UAE expected to attract 4,500 millionaires in 2023, rapid growth persists in the luxury segment," Waind added.
Meanwhile, luxury home prices surged nearly 50% in a year. Dubai has seen a massive influx of
high net-worth individuals post-pandemic, especially from the Indian subcontinent,
Europe and other regions. Dubai attracted a remarkable influx of 5,200 millionaires in 2022.
