New survey also reveals that property remains preferred investment asset ahead of stocks, shares and bonds
Property remains the preferred investment asset by UAE residents for 2018, according to a new survey.
The annual YouGov survey conducted by IP Global has confirmed that 40 percent of UAE residents are planning to invest in property in the UAE and 18 percent planning to do so overseas in the next year.
The survey showed that property ranked above stocks, shares or bonds (27 percent), highlighting the continuous appeal of real estate, possibly due to the stable, reliable returns it offers.
Despite the recent political global events, the latest YouGov study also showed a 7 percent increase in appetite by UAE residents in the last six months for property investment.
When UAE residents were asked where they would consider purchasing property abroad, Canada (20 percent) and the US (20 percent) were the most popular countries selected from the list.
The UK with 15 percent, plus Germany and Australia with 12 percent each completed the top five preferred investment destinations.
Richard Bradstock, director and head of the Middle East at IP Global, said: "The results of our second YouGov study are extremely positive and indicate that more and more UAE residents are looking to purchase property in the next 12 months.
"On a global level, property continues to offer excellent prospects for capital growth. For example, North America continues to be an attractive market for the UAE residents, due to the impressive returns it offers investors, as shown by Chicago which has experienced an 36 percent increase in house prices in the last five years while rental yields have increased 10 percent between 2016-2017.
"Closer to home, as the most mature market in Europe, the UK has always been popular with overseas investors. London, due to its chronic housing deficit and the government’s increased spending on infrastructure, remains a solid investment choice. However, recently we have also seen a change in buyer behaviour. UAE residents are now looking beyond Central London for more affordable properties in regional cities such as Birmingham, Manchester and Liverpool."For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.