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Sales to Indian and Pakistani investors increased after flights had been resumed and travel restrictions eased.
Investors from all over world flock to Dubai in 2021 to invest in the real estate sector. Experts believe, various visa reforms introduced by the government, successful management of the COVID-19 pandemic and a well-planned vaccination campaign were the main factors contributing to this.
Property prices in the emirate increased notably during the third quarter due to investors, especially from India and Pakistan, who started pouring money into the local real estate sector after international flights had been resume in August and travel restrictions eased in the run-up to Expo 2020.
'The Dubai real estate sector gained momentum during the July-September quarter as investors from subcontinent returned to the market. Some long-term residents, who secured golden visa and silver visa, also preferred to own a property rather continued as a rental tenant,' experts pointed out.
Dubai's real estate market has been attracting investors from all over the globe, however, the number of Indian and Pakistani investors is definitely on the top. They make up somewhere between 20 to 30 percent in Dubai real estate, while the remaining part spreads across other nationalities. Some of the reasons why Indians and Pakistanis choose Dubai as their home are the close proximity, geographic positioning and the welcoming nature of the Emiratis.
Experts said, subcontinent buyers had injected almost one-third of the total investment in Dubai’s real estate sector during the first three quarters of this year. This indicates that they consider the emirate a safer destination for their investments.
In September 2021, Dubai recorded 5,762 real estate transactions worth USD 4.4 billion. This brings the year-to-date total to 43,299 sales transactions worth USD 28 billion, which exceeds the result of the whole year of 2020 that had 35,401 sales transactions worth USD 19.5 billion.
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