Dubai's most attractive luxury real estate buyers: the Chinese, Brits and investors from India - | Khaleej Times News

The emirate's real estate sector continues to experience strong international demand from around the world as people seek safe haven, tax efficiency and positive investment returns.

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Previous update: Wed May 31, 2023, 3:46 pm

Last updated: Wed May 31, 2023, 18:37

Chinese and British investors have emerged as the leaders in buying luxury residential properties in Dubai in 2022, surpassing the traditionally leading Indians. According to international real estate consultancy Knight Frank, Indian investors ranked third among real estate buyers in the emirate last year in the high-segment segment. Indians, Emiratis and Saudis were the top three investors before the pandemic in 2018 and 2019. Indian millionaires allocate an average budget of $10-20 million to buy a home in Dubai, with 11 out of 15 interested in buying residential real estate in Dubai. Indian high-net-worth investors expect annual value growth of 5-10 percent, with Creek Harbour being the most popular target location for branded homes in Dubai.

The Knight Frank global study surveyed 183 millionaires with a net worth of more than $3 million, excluding the value of their primary home or primary residence, in partnership with YouGov.

The Dubai real estate sector continues to experience strong international demand from around the world as people seek safe haven, tax efficiency and positive investment returns. The weakening of the rupee against the UAE dirham, which fell from 21.1 last year to 22.6 in May, has caused small and medium-sized Indian investors to slow down - but high-net-worth individuals continue to invest in the local real estate market to earn high returns.

Meanwhile, British investors put more money in because of high inflation and political uncertainty in the European country last year. Britons and other investors from Eastern and Western Europe are looking for places to save their money and earn high returns. According to Betterhomes, British nationals were also the top investors in Dubai in the first quarter of 2023, up 60 percent year-on-year. Citizens of India, Russia, Italy, Lebanon, Lebanon, Egypt, Turkey, France, China and the UAE also made it to the top ten.

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