Dubai: Indians were the largest investors in the promising Dubai real estate market in terms of number of buyers and transactions made in 2014, followed by Emiratis, Saudis and Kuwaitis, according to a report.
Dubai's real estate market looks promising and stable, driven by renewed confidence among investors, said the report by Omega Real Estate, a real estate company owned by The H Holding Enterprise.
At the Gulf Cooperation Counci (GCC) level, Emiratis topped the list, followed by Saudis and Kuwaitis. At the pan-Arab level, Jordanians, Egyptians and Lebanese were the major buyers, it noted.
Basing its assumption on a recent report by the Dubai Land Department (DLD), Omega confirmed that property prices in Dubai have continued their recovery, albeit at a slower pace.
"This was a remarkably successful year for Dubai property market. Investments were more diverse than ever with new areas coming on the radar," said Hafeez Abdullah, chairman of The H Holding Enterprise.
"With sales accounting of over 51 per cent of the total transactions, it is now clear than bigger and more serious buyers are coming into the market, engaging in long-term investments."
According to Mr Abdullah, the sector is gaining maturity, filtering out speculators and encouraging more end-users to become retail buyers.
"Such trends have boomed global markets and are now on the way to making the UAE sector more mature," he said, adding, "The most prominent areas are usually measured on the basis of completion of sales or mortgages."
The report further said that newer areas are coming under the scanner, enlarging the footprint of Dubai's real estate hotspots.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
