The US, UK, Australia, Singapore and Germany have been named as the top five destinations for UAE residents looking to invest in property overseas.
According to a YouGov survey commissioned by IP Global, a property investment company, the US topped the list, with 21 percent of UAE residents saying they would consider investing there.
The UK with 19 percent, and Australia with 16 percent, were the second and third most popular choices respectively, the survey showed.
Singapore and Germany rounded out the top five, with 13 percent of respondents choosing these countries as preferred investment destinations.
The UAE was one of five countries where the survey was conducted, as part of IP Global’s research to identify investment trends in real estate across key markets. Hong Kong, Singapore, the UK, and South Africa were the other four countries.
The results across the five markets highlighted the US is among the top investment destinations for respondents outside of Asia while Germany is in the top five choices for investors in both the UK and UAE.
Australia was named among the top three investment markets for real estate in all five countries.
When it comes to selecting assets to invest in, property in the UAE was the most popular asset class for UAE investors, the survey also showed.
More UAE residents currently invest in property (42 percent) than stocks, shares or bonds (30 percent).
The survey of more than 1,000 UAE adults found that 41 percent of respondents identified tax as a reason that would prevent them from investing in property assets overseas while 33 percent said a lack of understanding of foreign laws in the country where property is located is also an investment obstacle.
Richard Bradstock, director and head of the Middle East at IP Global, said: “As the results show, the US has proved the most popular market for UAE potential investors. This shouldn’t come as a surprise as both Miami and Chicago offer great potential for investors.
“The UK has always been a popular market to invest in, but outer London and regional cities such as Manchester and Birmingham, due to their robust economies and growth opportunities, have definitely seen increased attention from foreign investors.”
He added: “Although many UAE citizens are experienced investors, the results have revealed a large gap in international property investment understanding. There is still a lot of room for overseas property to increase in popularity as an asset class, especially as volatile global financial markets hold sway.”
This year’s results are consistent with a YouGov survey conducted in 2014 which found London, New York and Sydney to be the most popular cities to invest in outside of the UAE.
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