Indians invested over Rs 36,000 cr in Dubai property in the one year till June 2017
Indians have invested Rs 1.1 lakh crore in the last three years in to Dubai
Himadri BuchMoneycontrol News
Indians bought property worth Rs 36,040 crore in Dubai from January 2016 to June 2017, making them yet again the top foreign property investors in the Emirates, according to Dubai Land Department.
"Indian investors made 10,628 transactions worth more than Rs 36,040 crores in Dubai property from January 2016 to June 2017. Several factors contribute to this, but the key now is the vast potential that it offers to Indians to prosper and grow," said Majid Saqr Al Marri, Senior Director, Real Estate Investment Management, and Promotion Center, Dubai land Department.
Overall, Indians have invested Rs 1.1 lakh crore in the last 3 years into Dubai.
Dubai's real estate market is becoming an attractive proposition to a multitude of international investors. However, no other nation invested more money in Dubai than India, with little over half-a-billion dollars in the last five years.
Dubai offers tax-free returns and its rental yields in the range of 7-12 percent which is amongst the highest in the world.
Real estate experts believe that Dubai's real-estate has become the first choice of investments for many Indians as it gives much higher return for investment as compared to India. Also, a transparent, hassle-free procedure, financial banking, higher rental yields have led to the demand for Dubai real estate.
"For Indians, the hotspots in Dubai are locations such as Jumeirah Lakes Towers, Palm Jumeiraah, Downtown Dubai and Dubai Marina, among others, reflecting their penchant for class and luxury," said Asma Dakkak, Research Manager, JLL.
She further added that the average ticket size for prime locations in Dubai, is approximately between Rs 2.66 crore and Rs 7.15 crore.
Investments in Dubai property by India is poised to scale up in the coming years on the back of economic prosperity, and investor optimism.
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