Mumbai: Indians invested nearly $2 billion in the Dubai’s real estate during the first half of this year.
“According to Dubai government’s data, Indians were the most prolific foreign investors in H1 of 2015, with a total of 3,017 transactions worth more than $2 billion,” Sumansa Exhibitions President Sunil Jaiswal said.
Sumansa Exhibitions organises property expos. The company is bringing Dubai Property Show to India in November from 6-8 here.
“The characteristic Indian mindset of solidifying assets in multiple arenas compliments the dynamics of Dubai real estate that offers a number of options to buyers to accommodate their budget and preferences. Recent trends of purchasing properties in locations such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers and The Palm also suggest that the buyers are looking at profitable dividends in the shape of rents and resale value,” he said.
Mr Jaiswal said going by the data, Indians top the foreign property investment chart, a position they have consistently maintained for several years.
He said the lower property rates in Dubai compared to certain metropolitan cities in India, interest in exploring foreign markerts for a balanced real estate investment portfolio and recent move by RBI allowing investors to send up to $2,50,000 freely overseas to buy property has boosted the sentiment of Indians.
“Easy and hassle-free commuting to the country for both business and recreational purposes and no levy of tax on rental income, which means that investors can make free and clear profit on rents are also attracting Indians to invest in Dubai’s property market,” Mr Jaiswal added.
PTI