Now the one of the best countries for real estate investments status officially belongs to the UAE. Savills analytical agency ranked UAE the second in a rating of countries with the most favorable conditions for investments in real estate.
The US tops the list, while Singapore comes in third, on the basis of their economic growth and market recovery. The rating also includes Britain, Spain, Australia, Hong Kong, China, and other cities and countries.
As for the UAE, Savills analysts named the high level of domestic welfare, growing population and a high level of regional demand for residential property among its main advantages.
Despite the fact, that demand for residential property from end buyers in Dubai outperforms foreign investors’ demand in recent years, the emirate is still on top of its demand curve, which allowed Savills analysts to rank it number one for investability in the UAE.
Savills’ World Residential Investability Ranking rates fourteen world countries and cities that have been continually attracting residential property investors’ attention in recent years.
As for the recent decline in housing prices in Dubai, David Godchaux, CEO of Core, the UAE associate of Savills, said that Dubai now offers investors a great opportunity to capitalize on their property investments over the next five years. “We expect prices in Dubai to rebound in 2016 as the UAE gears up for Expo 2020,” he said.
“The property market has matured a great deal after the government took measures to stamp out short-term speculators. We are confident that investors looking for long-term gains will do well as Dubai is a safe and established global business centre in the Middle East which has broad appeal to a range of buyers from the region and far beyond.”