Foreign investors continue to invest in Dubai real estate

Foreign investors continue to invest in Dubai real estate

Foreign investors continue foraying into Dubai as it concluded the first quarter on a high note.

The Dubai property market recorded the best ever quarter since 2010, with a total of 20,539 sales transactions valuing a little over $13 billion (AED 55.50 billion), as per the reports.

Referring to official data, Zoom Property Insights said that “the secondary market dominated the real estate sector as it constituted around 58 percent of total sales transactions, while the remaining 42 percent of sales were recorded in the primary market.”

Zoom Property is an emerging property portal in the UAE with a primary focus on Dubai, Abu Dhabi and Sharjah markets.

The market is expected to continue its upwards trajectory with more foreign investors pouring into the market, owing to visa reforms and economic stability.

“The changing scenario in the Dubai labor law and the abundant entrepreneurial opportunities are also attracting a huge number of investors,” according to Zoom Property Insights.

Mr. Ata Shobeiry, CEO at Zoom Property stated that, “The rising demand, property prices, and ROI can be majorly accredited to the influx of overseas investors. Expo 2020 facilitated the visit of many first-time investors, who ultimately decided the market is worth investing in.”

“I believe the recent announcement