Indians biggest buyers of Dubai property

Over Dh22 billion was invested by foreign nationals in Dubai's realty market in the first half of 2012 with Indians topping the list in value terms, followed by Britons.
The total number of properties (buildings, lands, apartments and villas) sold during the first half touched 12,875 units, Dubai Land Department said in a statement.
Indians bought a total of 2,153 properties worth Dh3.751 billion, followed by Britons who purchased 1,564 properties worth Dh 2.53 billion.
Pakistanis invested Dh1.71 billion to purchase 1,814 properties, while Russian and Iranian investors competed for the fourth and fifth positions. Iranians bought 1,057 properties worth Dh1.52 billion while Russian purchased 694 properties for Dh1.44 billion.
Saudis purchased 416 units valued at Dh1.06 billion, followed by Americans who invested Dh694 million to buy 415 properties.
Canadians bought 329 properties worth Dh754 million. Jordanians purchased 268 properties worth Dh460 million, while investors from other nationalities bought 4,165 properties valued at Dh8.23 billion.
Emirates 24|7 reported this month that Indians, Iranians and Britons together invested more than Dh1.5 billion to buy properties in global icon Burj Khalia in the first half of this year.
Earlier in August, the Land Department said property transactions had jumped 21 per cent to Dh63 billion in the first half of 2012 compared to the same period last year, while transactions surged 82 per cent in value terms quarter-on-quarter, reflecting growing confidence among investors.
Total transactions reached 18,953, with plot sales and mortgages dominating the first half transaction activity, with 3,522 deals worth Dh42.3 billion taking place.
A total of 14,428 sale and mortgage transactions on apartments and villas, valued at Dh18 billion, were registered during the period, while 1,003 building sale and mortgage transactions, valued at over Dh 2.7 billion, were recorded. On an average, there were 133 transactions per day and 16 transactions per hour.
In 2011, Dubai reported 35,297 real estate transactions worth Dh143 billion, an increase of more than 16 per cent over previous year's total of deals worth Dh123 billion. Indians continued to the top new investors in Dubai's real estate market last year, pouring in more than Dh2.1 billion.
Emirates 24|7
15 August