Indians top Dubai property buyers list

04/04/2012 - Dubai Property News Posted by Bob Brunskill
Indians top Dubai property buyers list
Indians spend more in Dubai property investment opportunities than other foreign nationals, it has been revealed.According to the Dubai Land Department, natives of the subcontinent purchased AED 2.1 billion ($360 million) in dwellings last year, the Indian Express reports.The government office did not mention what the national identity of the second-largest group of buyers were, however people who are UAE-born came in third, having invested AED 1.5 billion.New money flowing into the emirate's buzzing property market last year totalled AED 13.1 billion, according to the department, with Asians making up 68 per cent of the overall investors.A spokesman stated: "The Indians topped the list of new investors in Dubai properties and conducted 927 transactions. This represents 16 per cent of the overall value of transactions carried out by new investors."This week, Arabian Business has reported that property transactions in Dubai were up 53 per cent in the first quarter of 2012.