A total of $30 billion worth of properties purchased in cash by Investors in 2012
03/03/2013
As the Emirate’s Real Estate market is currently bouncing back from the huge impacts of recession, the Dubai Land Department (DLD) has reported that there were around $42 billion worth of properties invested by property investors, in which $30 billion was definitely invested by investors from neighboring countries such as India, Iran, Syria, as well as from North African Nations and Gulf Cooperation Council (GCC) countries.
In 2012, a positive year for the aforementioned industry, it was reported that 70 per cent of property sales in the Emirate were paid for by cash; or rather most of the properties were purchased by cash buyers. In fact, Asteco Property Management, a largest and most experienced property services consultancy firm, has also reported that the sales transactions for both apartments and villas have increased around 9 per cent in the last quarter of that year. Based on the report, it was mostly driven by property transactions recorded on the Artificial Archipelago: Palm Jumeirah.
According to Sam Wani, General Manager of Mortgage Adviser Independent Finance, he said that most of the investors have opted to invest in the Emirate’s property market because of the fact that it has been not only as an Economic Hub in the Middle East region but also a Safe Haven for Investments in particular.
Then, he concluded that even the leasing market in Dubai is now increasing more than 7 per cent that will be another advantage for those investors to let their property investments grow passively. In other words, it is the right time for cash-rich individuals to put their cash into the Emirate’s property market.
In 2012, a positive year for the aforementioned industry, it was reported that 70 per cent of property sales in the Emirate were paid for by cash; or rather most of the properties were purchased by cash buyers. In fact, Asteco Property Management, a largest and most experienced property services consultancy firm, has also reported that the sales transactions for both apartments and villas have increased around 9 per cent in the last quarter of that year. Based on the report, it was mostly driven by property transactions recorded on the Artificial Archipelago: Palm Jumeirah.
According to Sam Wani, General Manager of Mortgage Adviser Independent Finance, he said that most of the investors have opted to invest in the Emirate’s property market because of the fact that it has been not only as an Economic Hub in the Middle East region but also a Safe Haven for Investments in particular.
Then, he concluded that even the leasing market in Dubai is now increasing more than 7 per cent that will be another advantage for those investors to let their property investments grow passively. In other words, it is the right time for cash-rich individuals to put their cash into the Emirate’s property market.
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