“Zoom Property”: The influx of foreign investments supports the upward curve of the market

55.5 billion dirhams of Dubai real estate sales during the first quarter

Foreign investors continue their successes in Dubai real estate.

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A report by "Zoom Property Insights" stated that foreign investors continue their successes in Dubai real estate, as the sector concluded the first quarter well, and was considered one of the best periods for it ever since 2010, and 20,539 thousand sales transactions were completed, valued at more than 55.5 billion dirhams.

Official data indicate that the secondary market dominated the real estate sector, accounting for about 58% of the total sales, while the remaining 42% of sales were recorded in the primary market.

Zoom Property Insights expects the market to continue its upward trend with the influx of more foreign investors, thanks to the stimulating measures taken by the country such as modernizing visa procedures and economic stability.

Also, the continuous changes affecting the labor law in Dubai, with the availability of mega projects, will attract larger numbers of investors.

Atta Shbeiri, CEO of Zoom Property, said: “The exceptional performance of the real estate market in recent months is due to foreign investors.

The increased demand, high real estate prices and a high return on investment can be attributed largely to the influx of foreign investors, and undoubtedly, Expo 2020 facilitated the way for many new investors to visit Dubai, and they had the opportunity to decide in the end that the real estate market in Dubai Worth investing in it.”

Shabri added, "He believes that the recent announcement of the new green residency visa and the expansion of criteria for eligibility for the golden visa, will provide more opportunities for foreign investors, which will have positive repercussions on performance in subsequent periods.

European investors came to the fore during the first quarter of 2022, as the United Kingdom, Italy and France ranked first, third and seventh, respectively, on the list of major country investors in Dubai.

The number of Canadian buyers increased by 116% during the first quarter of this year, compared to the same period in 2021, and investors from the Indian subcontinent and Pakistan ranked second and eighth, respectively, which contributed significantly to the improvement of the market performance.

The number of Russian investors in Dubai's real estate market increased by more than 65%, thanks to the country's position in the fifth place globally among the largest countries attracting investment.

Lebanon and China also made major investments in the market during the first quarter of 2022.

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