Ranked number 4 in 2016 with property investments worth Dhs 5.8 billion (GBP 1.17 billion) and Dhs 4.5 billion (GBP 913 million) worth property bought in 2017 makes British amongst top 5 buyers of real estate in Dubai … reports Asian Lite News.
Britishers are amongst the top 5 buyers of real estate in Dubai and for several years now they have maintained their position as one of the most prolific investors. Having invested a massive sum of Dhs 5.8 billion (GBP 1.17 billion) 2016, in 2017 they have purchased properties worth Dhs 4.5 billion (GBP 913 million) in the emirates of Dubai.
UK is home to not only British investors, but a strong community of Arab and Asian investors. London has the world’s largest concentration of net-worth individuals. The average property prices in London are more expensive when compared to Dubai, making Dubai highly affordable and attractive to British investors.
In an effort to present unique investment opportunities to discerning UK buyers, the Government body Dubai Land Department will be conducting an exclusive event on 3rd and 4 th December 2017 at Shangri La Hotel in London. The event will help buyers understand the existing Dubai laws while providing them relevant options for their property investment. The hand-picked Dubai developers will be showcasing some select real estate projects from prime Dubai locations including Dubai Silicon Oasis, Palm Jumeirah, Dubai Festival City, Jumeirah Village Circle amid others in an elite setting.
“Dubai is a hotspot for UK property investors with its luxurious lifestyle, world class infrastructure, high property appreciation rates, high rental income, no tax on capital gains, no tax on rental income, easy repatriation of funds and up to 50% finance available for foreign investors. Dubai is highly affordable and attractive to British investors and British have always contributed a large chunk towards the tourism and real estate in Dubai. ”, added H.E. Majida Ali Rashid, Assistant Director General Dubai Land Department.
“Properties in Dubai provide among the world’s best investment returns in terms of appreciation and rent. More than 14 million visitors arrive in Dubai every year looking for short- term rental opportunities this number is expected to grow to 20 million by 2020 as Expo 2020 is round the corner. Dubai is strategically located between Europe, Asia, Africa and the Middle East and offers cosmopolitan culture and an amazing lifestyle to over 200 nationalities. Dubai’s Real Estate market is booming and it is the best time to invest as Dubai”, said Mr. Majid Saqr Al Marri Senior Director Real Estate Investment Management and Promotion Center, Dubai Land Department.
Dubai offers high rental yields compared to other major cities around the world – between 7 to 10 % a year. Bank borrowing for mortgage/home loans is at four per cent. So, even if one borrows money, he/she still can make on average six per cent per year. This makes it a strong reason for people to buy property in Dubai and have a second income from rents while the property keeps appreciating in value.