Dubai remains prime target of property investors

Dubai remains prime target of property investors

UAE - Bolstered by strong capital growth, high yields and government-led initiatives that incentivises investment in the property sector, Dubai continued to be a prime target for investors, according to Betterhomes, a leading property consultancy.

All segments of Dubai’s real estate market recorded growth in the first half of 2022 with sales transactions and values holding up well, Betterhomes said in its H1 2022 Dubai Real Estate Market Report.

“Despite headwinds in the form of rising interest rates and a strengthening dollar, Dubai’s real estate market remained busy and robust in the first half of 2022,” it said.

Indians topped the list leading buyers by nationality with those from the UK, Italy, Russia and France rounding the top five, according to the report.

Setting a new record for transactions in the Dubai, DLD (Dubai Land Department) recorded 37,762 total units sold from January through June this year, which is 60 per cent higher than the same period in 2021. There was also an increase of 85 per cent in the total value of sold properties compared to H1 2021.

Richard Waind, group managing director, said while globally, many real estate markets are showing signs of slowing down in the face of rising inflation and the