58% of UAE residents are looking to purchase local or international property in the next year, with the US, UK and Australia the most popular
Just over half of UAE residents are looking at property as an investment, either locally or overseas, in the next year, a new survey has found.
The annual YouGov survey conducted by IP Global that looks at the most popular type of investment asset found that UAE-based investors continue to see real estate as the most popular investment asset, owing to stable, reliable returns it offers.
The survey of 1,000 UAE residents found that 58% of UAE residents are looking to purchase local or international property in the next year, with the US, UK and Australia the most popular investment locations – a measure of returning confidence in markets affected by Brexit and US election.
“This year we have felt investor confidence has returned after the impact of Brexit and the US Election,” said Richard Bradstock, director and head of the Middle East at IP Global.
“In fact, from our global study, UAE residents have the strongest appetite to invest in overseas property (14%) in comparison to citizens from Hong Kong, South Africa and the UK.”
Bradstock said while IP Global’s continues to invest in mature, low-risk Western destinations such as Germany and the UK, investors have started to look at dividing funds and purchase properties in tier 2 cities, that offer more affordability and higher growth rates.
The survey found that 39% of UAE expats are planning to invest in property in their home country, while 26% are hoping to buy a property in the UAE, with 14% looking to purchase assets in a foreign country.
The most common reason for purchasing the property was for a future place to live (48%), while 46% said was to produce funds for retirement and their children’s education and 39% saying capital gains.
In comparison to last year’s study, more residents are looking to invest in property at home or abroad in 2018, whereas the chosen locations have shifted from Canada, USA and the UK in 2017 to USA, UK and Australia in 2018.For all the latest real estate 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.
I think you needed to actually write 500 residents........ that's not half of the entire population nor is it representative.