UAE real estate investors are widening their scope and looking away from London, which has traditionally been the property hotspot of choice, according to a new report.
The 2018 Global Real Estate Outlook Report by property investment company IP Global has shown that regional cities in the UK and cities within Central Europe are now offering UAE residents a "compelling global investment choice".
The report also highlights that many investors from the wider Middle East are increasingly looking to purchase property in the United States and Thailand.
Richard Bradstock, director and head of the Middle East at IP Global said: “Over the years we have seen that, historically, investors from the Middle East have favoured buying property in London. However, in 2017, we witnessed a behaviour shift as many investors are flocking to buy more affordable property in northern cities like Manchester, Liverpool and Leeds.
"Internationally, with the launch of start-ups and technology hubs, central European cities like Berlin, Frankfurt and Lisbon have become attractive investment destinations due to their resulting strong capital growth and sound economic performance.“
He added that IP Global's recent YouGov study also showed that America remains a popular choice for UAE residents, with Seattle in focus for many investors.
According to the report, Manchester in the UK has shown the greatest promise, with property prices rising and rents forecast to significantly increase from 2018 to 2022.
Middle Eastern property investors searching for secure income streams outside London property are also currently exploring Leeds, the report noted.
Across Europe, Berlin and Lisbon are also growing in popularity among Middle East investors.For all the latest business 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.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.