Married couples and Asian expatriates are the most inclined to invest in real estate in the UAE this year, as per a recent YouGov report.
The data analysis company discovered that 7 out of 10 married couples are contemplating purchasing property in the UAE within the next year. The data also highlighted a rising trend among Asian expats, with 58 percent expressing interest in investing in UAE property.
Various factors, including robust market confidence and a desire for lucrative investments, are fuelling the demand for real estate in the UAE.
According to the YouGov report, the majority of respondents, 79 percent, are actively seeking investment opportunities to enhance financial security and wealth growth.
The UAE’s real estate market has experienced steady growth in recent years, with significant increases in property values in both Dubai and Abu Dhabi. Property values in Dubai rose by 19.9 percent in the last year alone, according to the ValuStrat Price Index, while values in Abu Dhabi increased by 6.4 percent.
Although the YouGov report did not specify the areas where potential homeowners are seeking investment opportunities, it revealed popular locations among respondents.
Palm Jumeirah and Dubai Festival City are favoured in Dubai, while Yas Island is a top choice in Abu Dhabi. These areas offer prime real estate options and convenient locations with amenities.
Properties in these select areas could see further growth in 2024, with values in Palm Jumeirah potentially exceeding 20 percent and those on Yas Island expected to rise by 10 percent by year-end, according to Knight Frank.
Dubai remains a preferred wealth hub for high-net-worth individuals from Asia, with favourable policies and a growing number of wealth managers setting up offices in the city, particularly attracting Chinese investors.
Sustainability is becoming increasingly important for homeowners in the UAE, with a growing awareness of environmental impact and a preference for green energy solutions.
Two-thirds of respondents are seeking sustainable housing options, with 76 percent believing that green energy is the future. As a result, nearly 60 percent prefer to purchase property from socially and environmentally responsible companies.
Residential projects are incorporating sustainable design elements such as natural light, improved insulation, smart technology, energy-efficient appliances, and renewable energy sources like solar panels.
