Indians ready to capitalise on Dubai's lucrative real-estate industry
ANI | Updated: Oct 18, 2017 17:29 IST
Mumbai (Maharashtra)[India], Oct. 18 (ANI-NewsVoir): When it comes to buying property in Dubai, Indian investors are quite willing to shell out big sums, as per a recent survey. The study conducted by Dubai Property Show, reveals the purchase pattern of Indians looking to invest in Dubai real-estate, along with the preferred property type.
According to the study, a majority (88 percent) of Mumbaikars and residents of nearby cities that include Pune, Ahmadabad and Navi Mumbai, are primarily looking to invest between Rs 3.24 Crore -6.5 Crore, whereas eight percent would like to seal the purchase within the budget range of Rs 65 Lakhs-3.24 Crore. Rest was looking to buy properties above Rs 6.5 Crore.
While selecting the property type, apartments emerged as a winner at 33 percent, with villas following at 17 percent. Commercial property and land stood at 9 percent and 6 percent respectively. Around 35 percent were undecided at the time of answering the survey questions.
"The data reflects Indian investors' faith in Dubai's highly lucrative real-estate industry, both in terms of rental and resale. In fact a recent Knight Frank report quotes that from 2012 to 2017, Indian residential property buyers have seen an overall return of 49.3 percent in Dubai, the highest anywhere in the world. As astute investors, Indians understand that they are getting their value for money, since Dubai offers a bright economic future, stability, affordability, class and comfort. Dubai is also among the most affordable property destinations, and the strengthening of rupee further nudged investors in this direction," said Asanga Silva, General Manager, Dubai Property Show.
For years, Indians have consistently been the most prolific non-GCC buyers of Dubai real-estate. From January 2016 to June 2017 alone, they bought property worth more than Rs 42,000 Crores in the emirate. (ANI-NewsVoir)