Egyptians, Jordanians top Arab investors in UAE property
dubizzle Property, the UAE’s largest and most visited Property platform, reveals insights on interest by nationality in the UAE property market from January to September 2018.
Egyptians and Jordanians accounted for 10% of property seekers on dubizzle Property in the first three quarters of the year, making them the top Arab nationalities looking at investing in the UAE property market. This is in line with the figures recently revealed by the Dubai Land Department concerning Dubai real estate transactions during the same period, where Jordanians were identified as the highest Arab investors with 644 investments by 548 investors, worth over AED 1.2 billion ($327,000). Egyptians recorded 719 transactions made by 623 investors, worth over AED 1billion ($272,400).
Looking at the top five most active nationalities on the dubizzle Property, the highest interest in the UAE property market came from Indian nationals, accounting for 22% of visits to the dubizzle Property platform during this period. This also echoes the figures Dubai Land Department, where Indian nationals accounted for over 4.6k investments worth AED 8.6 billion ($2.34bn) in the first nine months of this year, representing the largest property investment segment in the UAE.
Pakistanis came in second with 14% of visits to dubizzle Property, followed by Egyptians (6%), Jordanians (4%) and UK nationals (4%).
China, France, UAE, and KSA were among the top 20 most active users of the platform, which is also in line with the Dubai Land Department’s list of top 10 investors by nationality that includes UAE, India, KSA, UK, Pakistan, China, Egypt, Jordan, and France.
With over 130K live listings at any given time, dubizzle Property provides both local and international property seekers with a transparent platform to search for their next investment in the UAE.
“The current soft sales market has made the cost of property ownership more attractive versus the cost of rent, especially for those considering staying in Dubai for five years or more. Long-term expats are increasingly making the leap into ownership as declining prices are now making this investment possible. dubizzle Property has always been the go-to platform for investors in the UAE, as it provides them with the necessary tools to make well-informed decisions,” commented Matthew Gregory, Head of Property Sales at dubizzle Property.
As the UAE transitions to a competitive knowledge economy by driving the growth of non-oil economic sectors such as real estate and infrastructure, dubizzle is facilitating business for property investors through its platform.
The strategic location and advanced infrastructure of the UAE provide fantastic investment opportunities for companies and individuals internationally, and especially from the Arab world. In addition, the UAE government’s strategic decisions to grant investors a 10-year UAE residency visa and reducing government fees have acted as important incentives to encourage investment in the country.