More people buy property in the GCC as an investment than for any other reason, according to results from the ArabianBusiness.com Property Survey 2008.
Almost half (45.74%) of all respondents to the survey cited investment as their primary reason for purchasing property, data from the annual survey showed.
While a further 26.91% said that, although they intend to live in the property, they also view it as an investment.
Only 17% said their main reason for buying property in the GCC was to live in it, with less than one in a hundred (0.66%) indicating they intend to use their property primarily as a holiday home.
Bahrain is the Gulf state with the highest percentage of buyers looking for property as an investment.
Almost four in five (86.67%) property owners in the kingdom said that they view their purchase as either a pure investment vehicle or as both a place to live and an investment.
Kuwait is the most popular state in which to purchase property as a holiday home, according to the survey, with 14.29% of home owners saying that was their primary reason for buying in the oil-rich Gulf state.
Of those that bought real estate in the UAE market, only 16% said they intended to use it primarily as a place to live.