Indian cities that have the best buyers for Dubai Real-estate
Mar 31, 2023
Dubai has long been a favored destination for Indians looking to invest in international real estate. Last year, Indian investors spent a record Rs 35,500 crores on Dubai property, almost double the amount invested in 2021. With this growing interest in Dubai real estate, it's worth taking a closer look at which regions in India are the most active in terms of buying and investing in Dubai property.
Surprisingly, it's not just the big cities that are driving this trend. Second-tier cities such as Delhi-NCR, Ahmedabad, Surat, Hyderabad, Chandigarh, and Ludhiana are leading the way, demonstrating a big appetite for Dubai real estate. This has been further fueled by the rebounding rental market in Dubai, which saw a dip of up to 30% during Covid but has now seemingly bounced back to 2015-16 levels.
The average price of properties being purchased by Indians in Dubai ranges between Rs 3.5 crore to Rs 4.5 crore, with monthly rents hovering in the Rs 3 lakh to Rs 3.5 lakh bracket. This yields an average rental yield of between 4% and 5%, a primary motivator for many white-collar professionals looking for a safe investment destination and a better quality of life.
Dubai's world-class social infrastructure, including international schools that provide quality education, and a growing Indian community, make it a highly desirable place to relocate to for Indians seeking a better quality of life. And one developer that has been capitalizing on this trend is Damac Properties. They have been drawing buyers from smaller towns in India, especially Punjab, and have seen exponential growth from 2019 to 2023.
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