Dubai is world’s 11th best property investment target

Dubai has emerged as the world’s 11th best destination for future real estate investment, overtaking such well-established major cities as Washington in the United States, Zurich in Switzerland and Sydney in Australia.

According to the famous US Forbes magazine, which cited a new survey by a leading US property research institution, Dubai is making a comeback in the aftermath of the global financial crisis and is now among the top 20 global cities in terms of future real estate investment up to 2020.

The survey by Knight Frank Citi picked New York as the top destination followed by London. But Forbes noted that these two cities remain very expensive.

“New York and London remain the No. 1 spots to invest in global real estate, but honestly, who can afford it,” the New York-based magazine said.

“Some of the established Asian centres, such as Singapore, Hong Kong and Tokyo, appear at risk of relative weakening compared to China’s rising stars of Beijing and especially Shanghai….the biggest fallers seem set to be Geneva, Zurich, Washington and San Francisco.”

The survey showed that the three biggest winners point to a rebalancing within Brazil, Russia, India and China, with the main cities to watch being Mumbai, Moscow and São Paulo.

“They look set for a dramatic upswing in their status, with each expected to climb by between six and eight places over the next decade.”

The survey ranked Shanghai in the third place, followed by Beijing, Hong Kong, Singapore, Mumbai, Tokyo, Paris, Moscow, Dubai,  Sao Paulo, Zurich, Geneva, Washington, Berlin, Sydney, Los Angeles, Seoul and San Francisco.

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