The number of Gulf nationals investing in the UAE’s real estate market has risen this year, according to new figures released by the UAE Ministry of Finance. The number of contracts increased to 4,604 in 2011, compared to 4,024 the previous year.
"Many Gulf nationals like the concept of owning a second home in Dubai and so there is that interest to be accounted for. As these figures show, while Gulf nationals are increasingly looking further afield for investment opportunities, the UAE and Dubai in particular still appeals to a certain segment," said Michael Michael, director of Landmark Properties. He also commented that the UAE is the most ‘advanced property market in the region’ and one that offers lucrative returns compare to some more established markets.
Other industry experts say the number of Gulf nationals buying property in the UAE shows that the country's property market is an attractive long-term investment. Dubai and the UAE has also become a neutral safe haven for property investors, amidst unrest in other parts of the Middle East, including Bahrain, Egypt and Libya.