DUBAI: Leading real estate players in the Middle East are bullish about Indians continuing as the most prolific foreign investors in the sector in the coming months too, as official statistics show that Indians have invested over Rs 30,000 crore last year alone here in properties.
Real estate investors from India have shown a marked preference for properties in Dubai owing to the close proximity of the UAE to India.
Indians were the most prolific overseas investors in Dubai's realty market in 2015, clocking 3,017 transactions valued at more than USD 2 billion.
"Indians accord a second-home status to Dubai and they are coming there in huge numbers to live, work and invest with a long-term perspective. Lower interest rates, lucrative yearly rental yield, security, tax-free returns on investments and attractive payment options are additional triggers for driving them in huge numbers," said Ranjeet Chavan, Director of SPF Realty, on the emergence of Dubai as a prime investment destination for Indians.
Commenting on the hassle-free procedures offered by the Dubai realty market, Director of SPF Realty Kalpesh Sampat said, "The key advantages offered by the Dubai property markets vis-a-vis investment in Indian properties lies in the fact that they do not have to deal with complicated sections and provisions related to the Income tax and have hassle-free purchase procedures in Dubai."
"Quick transaction procedures ensure that Indian investors get their money as a seller in 10 days (cash) or 45 days in case of a mortgage," he added.
According to the official data, Indians have emerged the top foreign property investors in Dubai, investing over Rs 30,000 crore last year alone.
SPF Realty is engaged in providing holistic property- related solutions and is a leading real estate broker in the freehold property sector of Dubai.