Property more popular than gold for investors

With gold traditionally considered a "safe haven" status, it is apparent that confidence has been restored in the property market for investors to feel more comfortable in investing in real estate. Property is now a more popular investment class than gold among UAE investors, according to a new survey published.
The survey, released by IP Global and YouGov, polled 1,000 UAE residents to determine the property investment sentiment across the UAE.
It revealed that property makes up 53% of UAE residents’ investment portfolios, compared with 43% holding the traditional ‘safe haven’ asset of gold.
Paul Preston, director and head of IP Global in the Middle East, told Arabian Business: “As gold is typically considered a ‘safe haven’ asset when currency markets are volatile, this likely indicates that UAE residents currently have sufficient confidence in the currency markets to invest in property and to diversify their investment portfolios.”
Preston added: “More and more people are starting to see property investment as one of the highest performing asset classes within their investment portfolios."

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