UAE secures spot in top 10 global residential property investment for 2024

In a recent development, the UAE has solidified its position as one of the world’s premier destinations for residential property investment in 2024, securing a notable fifth place in the inaugural Housearch Investment Index. This comprehensive index evaluates and ranks 50 global markets based on crucial factors such as rental returns, stability, and security, offering valuable insights into promising investment opportunities for the upcoming year.

Taking the top spot on the list is Ireland, acclaimed for its unique blend of a “lower-risk, high rent yields combination,” even after adjusting for local rental income tax. The UAE’s commendable fifth-place ranking underscores the region’s enduring appeal as a stable and reliable haven for property investment, particularly against the backdrop of cooling property markets in Europe and North America.

The Gulf countries, with Oman and Qatar securing the third and fourth positions, respectively, have prominently dominated the top tier of countries for property investment, affirming the region’s status as an attractive investment destination. Housearch, the entity behind the index, highlighted the UAE, and Dubai in particular, for its longstanding allure in overseas property investment. Renowned for luxurious real estate offerings, a favourable business environment, and a near-zero tax regime, Dubai continues to stand out as a beacon for discerning investors.

The aftermath of Brexit has further intensified the UAE’s appeal, with London losing some of its attractiveness. As a result, the influx of entrepreneurs, high-tech start-ups, and high-net-worth individuals into the UAE has injected fresh vitality into the residential market in Dubai. This surge in interest is reflected in the record-breaking total volume of residential property transactions in Dubai during the first six months of the year, registering an impressive year-on-year increase of 43.3%, according to property consultant CBRE. 

Original article reference: ZAWYA.

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