Followed by Emiratis, Saudis and Kuwaitis, Indians were the largest investors in the promising Dubai real estate market in terms of the number of buyers and transactions made in 2014 according to a new report.
A report by Omega Real Estate, a real-estate company owned by ‘The H Holding Enterprise’ has said that the Dubai real estate market looks promising and stable, driven by renewed confidence among investors.
Basing its assumption on a recent report of Dubai Land Department (DLD), Omega confirmed that property prices in Dubai have continued their recovery, albeit at a slower pace.
The chairman of ‘The H Holding Enterprise’, Hafeez Abdullah has said that, 2014 was a remarkably successful year for Dubai property market. Stating that Investments were more diverse than ever with new areas coming on the radar. With sales accounting of over 51 per cent of the total transactions, it is now clear that bigger and more serious buyers are coming into the market, engaging in long-term investments.
According to Abdullah, the sector is gaining maturity, filtering out speculators and encouraging more end-users to become retail buyers. Pointing out that such trends have boomed global markets and are now on the way to making the UAE sector more mature.
He also added that the most prominent areas are usually measured on the basis of completion sales or mortgages.
The report said that newer areas are coming under the scanner, enlarging the footprint of Dubai’s real-estate hotspots.