UAE remains most favoured real estate investment destination
Forty-five per cent of GCC respondents chose the country as number one destination for global property investment, YouGov poll shows
The UAE has kept its position as the most desirable country for GCC real estate investment in the Middle East, according to the latest Real Estate Barometer poll conducted by YouGov for Cityscape Global.
At the same time, Dubai came out as the most popular city for Middle East homeowners and investors.
The poll was conducted ahead of the Dubai international property event Cityscape Global that takes place from September 11 to 13 at the Dubai World Trade Centre.
"The research findings give us a great insight into the current market conditions and certainly help us and our exhibitors to set forecasts for upcoming real estate investment expectations," said Tom Rhodes, the exhibition director of Cityscape Global.
Of the GCC home buyers and real estate investors surveyed, some 45 per cent said that when it came to buying property globally they felt most comfortable investing their money in the UAE, up from 42 per cent in 2016.
When asked where they would spend money most on real estate in the region, some 63 per cent of GCC buyers chose this country.
The bullishness on the UAE, and especially Dubai – which 69 per cent of respondents chose as the go-to city for real estate investment in the region – comes at a time when property prices have been declining due to a slowdown in regional economic growth. Still, the poll showed that while respondents expected price decreases in the short-term that they were upbeat about the long-run.
"The 2017 study indicates a minor decline in sales and rental property prices in the UAE but overall real estate investment sentiment for the UAE looks positive," said Kailash Nagdev, the managing director for YouGov in the Middle East region.
"Respondents are telling us a strong regulatory framework, good supply of residential properties at different price points and the upcoming Expo2020 will be the key drivers of a healthy outlook for Middle East real estate."
Updated: September 9, 2017 05:31 PM