Indian Investors Dominate Dubai's Property Market in 2011
Dubai continues to be a highly sought-after destination, captivating individuals from all walks of life in India, transcending Bollywood's fascination with the city.
Data from the Dubai Land Department reveals a significant trend in 2011: Indian nationals emerged as the leading first-time property buyers, surpassing all other nationalities in terms of investment volume in Dubai's real estate sector.
Investment Breakdown
Indians conducted a total of 927 property transactions, amounting to a staggering 2.1 billion dirhams (equivalent to Rs 292 crore). This considerable sum represents 16% of the overall transaction value generated by new investors entering Dubai's property market in 2011, as highlighted by the department.
While the department refrained from disclosing the nationality of the second-largest investor group, they revealed that UAE nationals secured the third position, investing 1.575 billion dirhams (Rs 219 crore).
Overall, the influx of new capital into Dubai's real estate market during the year reached an impressive total of 13.13 billion dirhams (Rs 1,825 crore).
Investor Demographics
Analyzing the overall investor composition, it's evident that Asian investors played a dominant role, constituting 68% of all investors in Dubai’s real estate landscape. Within this group, UAE nationals led the charge comprising 35% of the overall number of Asian landlords. Indian nationals followed closely behind, representing 20% of the total Asian landlord population.
"Indians have topped the list of first-time property buyers in Dubai in 2011, having bought properties worth 2.1 billion dirhams (Rs 292 crore), Dubai Land Department data has revealed."
"This represents 16 per cent of the overall value of transactions carried out by new investors,” the department said.