Top nationalities continue to invest in Dubai realty market

Top nationalities continue to invest in Dubai realty market

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 Dhs 55.50 billion. Referring to official data, the Zoom Property Insights said the secondary market dominated the real estate sector as it constituted around 58 per cent of total sales transactions, while the remaining 42 per cent of sales were recorded in the primary market. 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 labour law and the abundant entrepreneurial opportunities are also attracting a huge number of investors, according to Zoom Property Insights. Ata Shobeiry, CEO at Zoom Property, credits overseas investors for the exceptional performance of the property market in recent months. He said, “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 of the new green residence