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14 November, 2017
Indian investment in real estate property in Dubai has been increasing over the years. Between January 2016 to June 2017 itself, Indians have recorded a purchase of residential apartments worth INR 42,000 crores in Dubai. This makes them the top investors in the UAE, besides, creating a favourable business infrastructure in the country. In comparison to recent years, the Indian investment has increased in Dubai by a large extent. In 2014, they had invested around INR 30,000 crores. This year, the figure has witnessed a surge of around INR 12,000 crores, which clearly indicates the interest of Indian investors in the nation. The statistics provided by Dubai Land Department shows that the investment is more than a quarter of INR 1 lakh crores that the investors had spent on non-Arabian property in 2014.
Clearly, homebuyers in India are inclined towards purchasing property in Dubai due to a number of reasons. Besides, it is evident that the investors are mainly from Mumbai, forming 88% of the segment. Apart from this, people from other cities like Pune, Nami Mumbai, and Ahmedabad are also among the leading investors from India. On an average, they look forward to invest INR 3.24-6.5 crores. Among them, around 8% of the people are inclined on making a purchase within INR 65 crores and INR 3.24 crores. The rest of the investors look forward to buy properties above INR 6.5 crores.
Apart from this, a distinct trend has been visible in the nature of the purchase. Around 33% of the investors opt for apartments, making it one of the most sought purchases. A number of residential complexes have come up in the area in the last few years. Besides, the growth of infrastructure and other amenities have also fostered the growth of this region. Besides apartments, homeowners are also looking forward to buy villas. After residential flats, Villas account for 17% of the purchases made by Indians. The sale of commercial property stands at 9%, while that of land has been recorded at 6%.
According to RERA, one of the key reasons behind the investment of Indians in properties in Dubai is the huge volume of business potential in the country. Dubai is a cosmopolitan city, housing people from more than 200 nations. The country has undergone tremendous development since the 1990’s. It was primarily an oil-based economy in the past, but now, with other industries opening up, it offers great potential to the residents.
Tourism is another important factor leading to the growth of the country. Dubai investment in India has increased as people have been involved in the flourishing tourism business in the country. Apart from this, manufacturing firms are also fast-developing in Dubai.
Interestingly, NRI investment in real estate in Dubai has received a boost as more people living in other nations are migrating to the country. With adequate infrastructure in terms of hospitals, schools, roadways and transportation, investment in Dubai has been huge.
Well, Dubai expats investment in India has increased in the last five years to a large extent. It is a positive indication for the real-estate investors in India. This is the right time to invest in property in Dubai.