Country ranks fifth in new investment index, after Ireland, Cyprus, Oman and Qatar
The UAE is one of the world’s top ten destinations for residential property investment in 2024, according to the inaugural Housearch Investment Index.
The index ranks 50 markets worldwide according to rental returns, stability and security. It provides a view of where the investment opportunities in the coming year look promising.
The UAE came in fifth place after Ireland, which secured the number one spot, Cyprus (2nd), Oman (3rd) and Qatar (4th). Rounding off the top ten are Costa Rica, Georgia, Armenia and Bulgaria.
According to Housearch, Ireland stands out for its “lower-risk, high rent yields combination” even after rental income being adjusted for local rental income tax.
Housearch noted that Gulf countries have dominated the top five countries for property investment, underscoring the region’s appeal as a stable and reliable investment haven, especially with the cooling property markets in Europe and North America.
“The UAE, particularly Dubai, has long been a beacon for overseas property investment, renowned for its luxurious real estate offerings, favourable business environment and near-zero tax regime,” Housearch said.
It said that after Brexit, as the attractiveness of London waned, the influx of entrepreneurs, high-tech start-ups and high-net-worth individuals (HNWIs) in the UAE has also further invigorated the residential market in Dubai.
The total volume of residential property transactions in Dubai broke records in the first six months of the year, up by 43.3% year-on-year, according to property consultant CBRE.
Source: zawya