According to a recent survey by YouGov and Cityscape Global, UAE has retained its number one position as the most appealing country to invest in real estate in the world for GCC residents, while Dubai is the most preferred city.
The latest Real Estate Barometer study asked GCC home buyers and real estate investors where they feel most comfortable investing their money globally and 45 percent cited UAE, up from 42 percent in 2016, while 63 percent chose the UAE from among countries in the Middle East specifically.
“The research findings give us a great insight into the current market conditions and certainly help us and our exhibitors to set forecasts for upcoming real estate investment expectations. With on-site sales permitted for UAE-based projects the first time at Cityscape Global this year, we anticipate a lot of interest from investors who will be able to attend the event to capitalise on attractive price options and make informed purchasing decisions directly on the show floor,” said Tom Rhodes, Exhibition Director, Cityscape Global.
More than half who intend to buy a property in the next year prefer to buy in the GCC, with the average GCC budget sitting at USD 717,000, compared to the average global budget of USD 561,000.
“The annual Real Estate Barometer is designed to track Middle East property market sentiment to help the industry expand with its future investors in mind. The 2017 study indicates a minor decline in sales and rental property prices in the UAE but overall real estate investment sentiment for the UAE looks positive. Respondents are telling us a strong regulatory framework, good supply of residential properties at different price points and the upcoming Expo 2020 will be the key drivers of a healthy outlook for Middle East real estate,” said Kailash Nagdev, Managing Director, YouGov Middle East.