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UAE residents' investment pick is property
Around 40 per cent of residents are planning to invest in property in the UAE.
dubai - Property ranks above stocks, shares or bonds among survey respondents
In a bi-annual study taken by 1,000 people, when choosing which asset type to purchase, property ranked above stocks, shares or bonds (27 per cent). Despite the recent global political events, the study also showed a seven per cent increase in appetite by UAE residents in the last six months for property investment.
When UAE residents were asked where they would consider purchasing property abroad, Canada (20 per cent) and the US (20 per cent) were the most popular countries selected. The UK with 15 per cent, plus Germany and Australia with 12 per cent each completed the top five preferred investment destinations.
While property investment had previously been seen as a male pursuit, now a similar percentage of women are looking to purchase assets. For example, in 2018, 41 per cent of women are considering buying property in their home country in comparison to 39 per cent of men. However, women still lag behind in regards to overseas investment, as 14 per cent of women are looking to purchase property abroad in relation to 20 per cent of men.
Richard Bradstock, director and head of the Middle East at IP Global, said: "More and more UAE residents are looking to purchase property in the next 12 months. On a global level, property continues to offer excellent prospects for capital growth. For example, North America continues to be an attractive market for UAE residents due to the impressive returns it offers investors, as shown by Chicago which has experienced a 36 per cent increase in house prices in the last five years while rental yields have increased 10 per cent between 2016-2017.
"Closer to home, the UK has always been popular with overseas investors. UAE residents are now looking beyond central London for more affordable properties in regional cities such as Birmingham, Manchester and Liverpool."
- business@khaleejtimes.com
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