UAE residents buying property globally… click to know where
The United States, United Kingdom, Australia, Singapore and Germany are the top five destinations for UAE residents looking to invest in property overseas, according to a YouGov survey commissioned by IP Global, an investment company.
The US topped the list, with 21 per cent saying they would consider investing there followed by the UK with 19 per cent and Australia 16 per cent. Singapore and Germany rounded out the top five, with 13 per cent of respondents favouring them.
The UAE was one of five countries where the survey was conducted, as part of the company’s research to identify investment trends in real estate across key markets.
When it comes to selecting assets to invest in, property was the most popular asset class for UAE investors. More UAE residents currently invest in property (42 per cent) than stocks, shares or bonds (30 per cent), underlining the continued appeal of real estate as an asset class that provides stable returns.
The survey of more than 1,000 UAE adults found that 41 per cent of respondents identified tax as a reason that would prevent them from investing in property assets overseas. Nearly 33 per cent of respondents said a lack of understanding of foreign laws in the country where property is located is also an investment obstacle.
Richard Bradstock, Director and Head of the Middle East at IP Global, said: “As the results show, the US has proved the most popular market for UAE potential investors. This shouldn’t come as a surprise as both Miami and Chicago offer great potential for investors.
“The UK has always been a popular market to invest in, but outer London and regional cities such as Manchester and Birmingham, due to their robust economies and growth opportunities, have definitely seen increased attention from foreign investors.”
Although many UAE citizens are experienced investors, the results have revealed a large gap in international property investment understanding.
“There is still a lot of room for overseas property to increase in popularity as an asset class, especially as volatile global financial markets hold sway,” he added.
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