A report issued by “W Capital” showed that the British were the nationalities of investors who bought the most in the Dubai real estate market in the first half of 2024, while continuing to provide attractive investment opportunities and high returns.
W Capital stated in its report on the top 10 buyers of real estate in the Emirate of Dubai, that the list of nationalities purchasing the most includes Indians, Chinese, Lebanese, Canadians, French, Italians, Dutch, Pakistanis, and Turks.
The report confirmed that Dubai has several advantages that enhance it as one of the most prominent real estate destinations for investment, work, and tourism around the world. The relatively high rents in the emirate, the easy real estate financing market, and the ease of obtaining a residency visa push well-heeled residents and foreigners to own property instead of renting it.
W Capital expects the real estate market to continue its strong performance while reaping the fruits of Dubai’s global leadership, predicting that sales this year will range between 450 billion and 500 billion dirhams.
Walid Al Zarouni, Chairman of W Capital Real Estate Brokerage, said that new buyers of Dubai real estate view Dubai as a very attractive center for living, working and investing in many opportunities. He stated that many of the investing nationalities have very strong relations with the Emirates, and there is a commercial partnership between them, which makes Dubai a reliable destination.
Al Zarouni added: “The high standards of living and job opportunities in Dubai are an important factor for some nationalities, especially Asian and Middle Eastern.” He pointed to the positive economic conditions in Dubai, the advantages of granting residency visas, and the attractive tax system for establishing and launching new businesses, in addition to cultural diversity, embracing about 200 nationalities from all over the world.
Al-Zarouni stated that there are other nationalities interested in buying Dubai real estate, and they rank highly after the ten most buying nationalities, including Egyptians, Americans, Saudis, Russians, and also Iranians. He expected Dubai’s attractiveness to foreigners to continue, adding that despite the rise in prices in the last 3 years, there is still a strong opportunity for growth amid strong demand in the market and the depletion of supply, which has prompted many companies to launch new projects.