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Indians top the list of investors buying property in the UAE, while top 10 also includes Russians, Canadians, Chinese and Americans, Dubai Land Department latest report have revealed.
Indians invested USD 3.54 billion in Dubai real estate over the last nine months. British citizens took the second place among expatriates investing in the emirate's property with almost USD 2 billion of investments made in Dubai real estate during the same time period. They are followed by Pakistanis, Russians, Canadians and citizens of other countries.
All foreign investors are attracted in Dubai due to the increasing capital value of the property and high potential rent yields, in addition to the traditional benefits of stability and economic feasibility.
Foreign investors’ unabated interest in the Dubai housing market is also due to the extremely beneficial proposals from developers in the off-plan housing sector. Recently, many developers said they would pay 4%registration fee for their property buyers. Others promise to pay at least half of this fee. Payment of the registration fee is proposed, in particular, by Union Properties for its Green Community West. Similar benefits are offered to their buyers by Pacific Ventures, Azizi Developments and Gulf General Investment Company. Others offer no less favorable, and sometimes much more exotic benefits for its customers, offering freebies ranging from furniture vouchers to new home appliances, from holiday packages to cars.
