The people who are focused on investing in Real Estate prefer the cities of UAE like Abu Dhabi, Dubai and Sharjah for their investments.
According to a Cluttons’ research, Dubai is the most preferred city for real estate investment and 27% of the investors chose the city as one of their top three favored destinations. 22% chose Abu Dhabi and 8% prefer Sharjah.
Four other cities of the Persian Gulf, Doha, Kuwait City, Riyadh and Muscat are also inside the top destinations for the investors!
It wasn’t clear in the survey which part of Dubai they prefer exactly but the Springs and Bur Dubai are more famous for residential property and Deira and Downtown Dubai for commercial real estate. Investors from the Persian Gulf spent AED44 billion ($12 billion) in Dubai! The most of them were Emirates and many were Saudis.
However, Cluttons expect that the prices of properties in Dubai will fall by 5%.
Except the cities of UAE, Istanbul is also a destination of choice for many real estate investors, with 8% saying that is one of their top three favored destinations.
It seems that the investments in the UAE cities are made mainly by wealthy Gulf individuals. The investors of this region prefer the safe solutions like UAE and Dubai specifically. While locations such as London and New York will always be successful in the field of real estate, the rise of the property market in Dubai the last 14 years has raised the attention of the wealthy people in the region.