The top 10 nationalities buying property in Dubai in H1 2024

Photo: Walid Al Zarooni, Founder and Chairman of W Capital Real Estate Brokerage

A report issued by W Capital, the Dubai leading brokerage, revealed that the British investors are purchasing the most in the Dubai real estate in the first half of 2024, while the sector is still robust and rewarding with attractive investment opportunities and high returns.

W Capital stated that the list of most purchasing nationalities also included Indians, Chinese, Lebanese, Canadians, French, Italians, Dutch, Pakistanis, and Turks.

The report confirmed that Dubai has several advantages that enhance its position as one of the global most prominent real estate destinations for investment, work and tourism. The relatively high rents in the emirate, the easy real estate financing market and the ease of obtaining a residency visa, push well-heeled residents and foreigners to own the property instead of renting it.

W Capital expects the real estate market to continue strong performance while reaping the fruits of Dubai’s global leadership. The brokerage expect sales this year will range between AED450bn and 500bn.

“New buyers of Dubai real estate realized that Dubai as a very attractive center for living, working and investing in many opportunities,” said Walid Al Zarooni, CEO.

Al-Zarouni stated that many of the investing nationalities have very strong relations with the UAE, with commercial partnership that unites them, which makes Dubai a reliable destination.

 “The high standards of living and job opportunities in Dubai are an important factor for some nationalities, especially Asian and Middle Eastern,” he added.

The CEO pointed to the Dubai positive economic conditions, the advantages of granting residency visas, and the attractive tax system for establishing and launching new businesses, in addition to cultural diversity, embracing about 200 nationalities from all over the world.

Al-Zarouni noted that there are other nationalities interested in buying Dubai real estate, and they rank highly after the ten most buying nationalities, including Egyptians, Americans, Saudis, Russians, and Iranians.

He expected Dubai’s attractiveness to continue, noting that despite the rise in prices in the last 3 years, there is still a strong opportunity for growth amid high demand and the depletion of supply, which has prompted many companies to launch new projects.