By Staff writer
More than half of respondents say they would choose property as number 1 investment preference, followed by stocks, commodities
A survey of home buyers and investors across the GCC and Egypt has shown that real estate is still the number one preferred investment, despite a recent slump in property prices in key markets.
The Real Estate Barometer study, conducted by global market research company YouGov in partnership with Cityscape Global, revealed that more than half of respondents (54 percent) would choose real estate as their preferred investment category, followed by stocks (13 percent) and precious metals (11 percent).
The sentiments have been announced as thousands of investors from around the world prepare to descend upon Cityscape Global, to be held at the Dubai World Trade Centre from September 6-8.
The YouGov research also indicated that the UAE is one of the most appealing countries in the world in which to invest in real estate, with 65 percent of respondents citing it as the most attractive option within the Middle East, while 64 percent said they believed that Dubai is the prime city in which to buy property in the region.
Lara Al Barazi, YouGov's head of Real Estate Research, said: "It's not surprising that the UAE and Dubai top the most attractive places to invest in real estate as the decision to invest in this sector depends foremost on the state of the economy in the market of interest according to 73 percent of respondents across the region.
"That said, what investors and home buyers are telling developers is that the market is missing affordable housing which constitutes by itself potential unmet needs waiting to be fulfilled."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.